Job Cuts Skyrocket: A Closer Look at the Numbers

The job market is in a tough spot right now. In October 2025, companies in the U. S. cut 153, 074 jobs. That's a huge jump from October 2024, when only 55, 597 jobs were cut. It's also a big increase from the month before, with 54, 064 job cuts in September 2025. This news comes from Challenger, Gray & Christmas, a company that tracks job cuts. So why are so many jobs being cut? There are a few reasons. Some industries are scaling back after hiring a lot of people during the pandemic. Plus, companies are using more AI, spending less, and dealing with higher costs. This makes it harder for people who lose their jobs to find new ones quickly. Andy Challenger, a workplace expert, says this could make the job market even tighter. The numbers are shocking. Job cuts in October 2025 were 183% higher than in September 2025 and 175% higher than in October 2024. That's the highest number of job cuts in October since 2003. Overall, from January to October 2025, companies cut 1, 099, 500 jobs. That's 65% more than in the same period in 2024. The tech industry is hit the hardest. In October 2025, tech companies cut 33, 281 jobs. That's nearly six times more than in September 2025. AI is a big reason for this. As AI gets better, companies can do more with fewer people. This raises a big question: what will happen to all the jobs that AI can do better and cheaper than humans? It's not just tech. Restaurants are closing too. Outback Steakhouse, for example, closed 21 restaurants in October 2025. More closures are expected in the next few years. This is part of a bigger trend. More restaurants and stores are closing every day. And more people are losing their jobs. Meanwhile, people are struggling with debt. Household debt in the U. S. hit a record high of $18. 6 trillion in the third quarter of 2025. Young adults, in particular, are feeling the pressure. The rate of seriously delinquent debt among 18 to 29-year-olds is about 5%. That's more than double what it was a year ago. The government shutdown is making things worse. It's causing disruptions to food aid benefits, child care, and health insurance. One woman in Rhode Island said she's worried she'll have to eat cat food if food stamp benefits are cut off. This shows the real human impact of the shutdown. People are stressed out. 75% of Americans are more stressed about the country's future than before. Young adults and parents are especially stressed. They're worried about AI, political division, and the future. This stress is affecting people's mental and physical health.