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1.1 Million Layoffs: US Sees 2009 Recession Levels
11 Dec
Summary
- Over 1.1 million U.S. job cuts announced by employers this year.
- Layoffs are shifting from large events to smaller, ongoing cuts.
- Economy shows a 'K-shape' with the wealthy spending freely.
U.S. employers have announced over 1.1 million job cuts in the first 11 months of 2025, a figure not seen since the 2009 Great Recession. This marks a 54% increase from the previous year, with November alone recording 71,321 cuts. Technology firms are the most affected, shedding over 150,000 jobs as they adapt to automation and reset headcount from previous booms.
The nature of these layoffs is also evolving. Instead of large, one-off events, companies are increasingly implementing smaller, rolling reductions. This trend contributes to growing anxiety among white-collar workers, especially as concerns about artificial intelligence and an elevated unemployment rate for younger generations persist.
Amidst these job cuts, the U.S. economy exhibits a stark 'K-shaped' trajectory. The wealthiest segment of the population is spending robustly, while lower-income consumers show signs of significant financial strain. Analysts suggest a "rolling recession" has impacted various sectors, with a subsequent "rolling recovery" beginning in some areas.
