FX.co ★ US Job Cuts Lowest in 4 Months

In May 2025, employers in the United States revealed plans to eliminate 93,816 jobs, marking the lowest figure in four months and a decrease from April's total of 105,441. Leading the reductions was the services sector, which accounted for 22,492 job cuts, reaching its highest monthly number since May 2020. This was followed by the retail sector, which saw 11,483 layoffs, and the health care/products sector, which experienced 6,514 job losses. Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, stated, "Factors such as tariffs, funding reductions, consumer spending restraints, and broad economic pessimism are heavily impacting company workforces. As a result, companies are tightening their spending, curbing hiring efforts, and issuing layoff announcements." Up to May, job cut announcements have reached a total of 696,309, representing an 80% increase compared to the previous year. The primary reason for the job cuts in 2025 remains the "DOGE Impact," cited in 284,044 of the planned layoffs to date, which includes direct reductions in the federal workforce and its contractors. Furthermore, the "DOGE Downstream Impact," affecting private non-profits due to lost funding, was responsible for an additional 10,459 job cuts.