Big Take It’s Not Just You. There Are a Lot of Layoffs Happening
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Nov 3, 2025 Julia Fanzeres, a Bloomberg U.S. economy reporter specializing in labor markets, dives into the alarming layoff wave of 2025. She highlights how current layoffs rival those during the pandemic, driven by economic slowdowns, rising costs, and AI adoption. Julia explains the troubling shift towards lower job security and persistent hiring challenges for those displaced. Consumer confidence is faltering, impacting younger workers’ wage growth. This discussion sheds light on the economic landscape and its implications for labor.
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Layoff Wave Signals Broader Cooling
- U.S. layoffs in 2025 reached levels not seen since the pandemic and span multiple industries beyond tech.
- Economists view the simultaneous wave of cuts as a warning sign of broader economic cooling.
Cost Pressures Drive Cuts Over Price Hikes
- Julia Fanzeres says the economy and labor market are slowing, prompting firms to cut costs by reducing headcount.
- Tariffs, economic uncertainty, and rising prices push companies to trim payrolls instead of raising consumer prices.
AI Is A Major, If Subtle, Driver
- Firms rarely cite AI as the explicit cause, but economists and the Fed see AI investment and adoption as a major factor in restructuring.
- Chair Powell has acknowledged monitoring AI's impact on employment and productivity.