Challenger, Gray and Christmas data reported by the New York Post shows U.S. employers announced 33,429 job cuts in July, down 27% from June and 46% from July 2024. Year-to-date cuts reached 477,033 through July, 41% below the prior year, with AI named in 112,713 announcements including 10,970 in July. Hiring rose 25% year-over-year while overall layoff pace hit its lowest level in two years.