The highest unemployment rate since the internet era is accelerating


AI is replacing ordinary workers
American companies are speeding up large-scale layoffs
China is a bit later, but it will also happen very soon
By 2025, the total number of employees in S&P 500 companies will decrease by 400k, down to 28.1 million, marking the first annual decline since 2016
Previously, S&P 500 companies had achieved employment growth for 8 consecutive years, with over 3 million new jobs added in total
This round of decline is mainly driven by UPS, $UPS, Oracle, $ORCL, Amazon, $AMZN, Meta, $META, Intel, $INTC, and Microsoft, $MSFT . Major companies are competing to cut costs and shift spending toward AI
By 2026, the wave of layoffs will continue. Amazon, $AMZN , will cut about 16k corporate jobs, Meta, $META , will reduce about 8,000 positions, and Microsoft, $MSFT , will offer voluntary separation plans to approximately 8,750 employees
American companies are cutting jobs at an increasingly faster rate
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