US Job Cuts Fall in July to Lowest Monthly Total in Two Years

According to the Challenger, Gray & Christmas (CG&C) Job Cut Announcement Report released on Thursday, US-based employers announced 33,429 job cuts in July, a 27% decrease from June’s 45,849. Year-over-year, announced cuts were down 46% from 62,075 in July 2025.

July’s total was the lowest since July 2024, when employers announced 25,885 cuts. So far this year, companies have announced 477,033 cuts, down 41% from the 806,383 announced through the first seven months of 2025. July marked the fifth month this year in which cuts were lower than in the corresponding month a year earlier.

CG&C reported notable job cuts in technology, financial services, government, services, and health care. Technology led all sectors with 9,867 cuts and 149,023 year-to-date. Financial firms announced 3,157 cuts, while government reported 2,962, services announced 2,581, and health care companies and health products manufacturers announced 1,251.

Transportation has announced 41,748 cuts so far this year, the second-most among all industries. Government cuts totaled 20,752 year-to-date, down 93% from 292,294 during the same period in 2025. Media companies have announced 4,428 cuts so far in 2026.

Hiring Plans

Employers announced plans to add 16,095 jobs in July, up 47% from 10,933 in June and well above the 3,200 announced in July 2025. It was the highest July total since 2022, when employers announced 25,506 hiring plans.

So far this year, employers plan to add 107,500 jobs, up 25% from the 86,132 announced through the first seven months of 2025. It was the strongest January–July total since 2023.