US Layoffs Skyrocket to Highest Level Since Pandemic AI Blamed for 40% of Cuts

The last actual report, June 5th:

> Nonfarm payrolls jumped a seasonally adjusted 172,000 for the period, down slightly from the upwardly revised 179,000 in April and far above the Dow Jones consensus estimate for 80,000.

> The unemployment rate held steady at 4.3%, as expected.

> Average hourly earnings rose 0.3% for the month and were up 3.4% over the past year..

More jobs, more jobs than expected, and higher wages.

https://www.cnbc.com/2026/06/05/jobs-report-may-2026.html

> AI Blamed

So software engineers carry blame.