U.S. employers announced 93,816 job cuts in May 2025, down -12% MoM but up +47% YoY, bringing the YTD total to 696,309 (+80% YoY), just shy of 2024’s full-year total.

• The Services sector led with 22,492 cuts in May, the highest since May 2020; Retail followed with 11,483 cuts and 75,802 YTD (+274% YoY).
• Technology cut 10,598 jobs in May, totaling 74,716 YTD (+35% YoY); Non-profits announced 8,565 May cuts, with a 504% YoY increase YTD.
• “DOGE Impact” remains the top reason for layoffs (284,044 YTD), followed by economic conditions (131,257) and closures (94,439).
• The East region saw the biggest surge in job cuts (+234% YoY), led by federal reductions in D.C.; California posted 93,586 cuts (+42% YoY).
• Hiring plans rose to 79,741 YTD (+57% YoY) but remain below pandemic-era highs, indicating cautious labor market expansion.