62,000 Jobs Were Lost In July—With DOGE, AI And Tariffs To Blame, Report Says
The post 62,000 Jobs Were Lost In July—With DOGE, AI And Tariffs To Blame, Report Says appeared on BitcoinEthereumNews.com. Topline American employers have already cut more jobs this year than in all of 2024, a new report showed Thursday, following cuts to federal government jobs, artificial intelligence and President Donald Trump’s tariffs. Fired US State Department workers carry their belongings as they leave the building in Washington, DC, on July 11, 2025. AFP via Getty Images Key Facts Private and public employers cut 62,000 jobs in July, according to a report from career services firm Challenger, Gray & Christmas, an almost 30% increase from the month before and a 140% spike over the same month last year. More than 806,000 jobs have been cut to date in 2025, already above the 761,358 that were eliminated in all of 2024. The Department of Government Efficiency’s cuts to federal agencies and grants, as well as implementation of artificial intelligence and concerns over Trump’s tariffs, are largely responsible for the cuts, according to Andrew Challenger, senior vice president and labor expert for Challenger, Gray & Christmas. The government has cut 292,294 jobs this year—the leading sector in job reductions by far—followed by technology at 89,251 and 80,487 job cuts in retail. Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here: joinsubtext.com/forbes. How Many Job Cuts Is Doge Responsible For? The Challenger report says so-called “DOGE impact” is the leading reason for job cut announcements so far in 2025. President Donald Trump initiated the biggest singular cut to jobs in U.S. history early this year when he offered more than 2 million people a buyout. Roughly 65,000 people had accepted the offer within two weeks, while 24,000 cuts were made in the U.S. Army and 10,000 in the Veterans Affairs department,…
The post 62,000 Jobs Were Lost In July—With DOGE, AI And Tariffs To Blame, Report Says appeared on BitcoinEthereumNews.com.
Topline American employers have already cut more jobs this year than in all of 2024, a new report showed Thursday, following cuts to federal government jobs, artificial intelligence and President Donald Trump’s tariffs. Fired US State Department workers carry their belongings as they leave the building in Washington, DC, on July 11, 2025. AFP via Getty Images Key Facts Private and public employers cut 62,000 jobs in July, according to a report from career services firm Challenger, Gray & Christmas, an almost 30% increase from the month before and a 140% spike over the same month last year. More than 806,000 jobs have been cut to date in 2025, already above the 761,358 that were eliminated in all of 2024. The Department of Government Efficiency’s cuts to federal agencies and grants, as well as implementation of artificial intelligence and concerns over Trump’s tariffs, are largely responsible for the cuts, according to Andrew Challenger, senior vice president and labor expert for Challenger, Gray & Christmas. The government has cut 292,294 jobs this year—the leading sector in job reductions by far—followed by technology at 89,251 and 80,487 job cuts in retail. Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here: joinsubtext.com/forbes. How Many Job Cuts Is Doge Responsible For? The Challenger report says so-called “DOGE impact” is the leading reason for job cut announcements so far in 2025. President Donald Trump initiated the biggest singular cut to jobs in U.S. history early this year when he offered more than 2 million people a buyout. Roughly 65,000 people had accepted the offer within two weeks, while 24,000 cuts were made in the U.S. Army and 10,000 in the Veterans Affairs department,…
What's Your Reaction?
