US employers announced 573,195 job cuts through September, 120,136 citing AI; young workers' hiring hit
Key points
- US employers announced 573,195 job cuts through September, with 120,136 citing AI, the top reason this year
- Tech cuts totaled 165,925, up 54%; total cuts fell 39%
- Stanford research using ADP data found 22-25-year-olds in the most AI-exposed jobs were about 19% below trend as of June
Per Challenger, Gray & Christmas, US employers announced 573,195 job cuts through September, 120,136 of them citing AI, the top reason this year; tech cuts totaled 165,925, up 54%, while total cuts fell 39%. Stanford economists using ADP data found employment of 22-25-year-olds in the most AI-exposed jobs was about 19% below trend as of June, versus 15% a year earlier.
Original report: Fortune ↗Edited with AI assistance. Facts are based on official sources and original reports.