Business & Finance
U.S. layoffs in August drop to lowest level in four years
Announced job cuts fell 38% compared to last year, though hiring pace remains subdued across major sectors.
The short version
- U.S. employers announced 52,881 job cuts in August, marking the lowest total for that month in four years.
- Layoffs through the first eight months of 2026 totaled nearly 530,000, down 41% from the same timeframe in 2025.
- Despite reduced job cuts, recruiters report that companies remain slow to fill open roles.
Key facts
- Outplacement firm Challenger, Gray & Christmas reported 52,881 announced job cuts in August, a 38% decline from 85,979 in August of the previous year.[CBS News]
- Total announced layoffs through August reached nearly 530,000, representing the lowest eight-month total since 2022.[CBS News]
- The consumer products sector had the highest number of cuts in August with over 10,000, followed by food and technology sectors.[CBS News]
- Technology companies led overall 2026 layoffs through August with more than 155,000 cuts, primarily driven by restructuring and economic conditions rather than artificial intelligence.[CBS News]
- The national unemployment rate dipped to 4.1% in July despite employers cutting a net 23,000 jobs.[CBS News]
What remains uncertain
- Whether slow hiring will rebound alongside the lower rate of layoffs remains uncertain as firms delay filling planned positions.[CBS News]