US job crisis deepens: 806,000 layoffs so far in 2025, worst since COVID crash - Is your company next on the chopping block?
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There will be big changes in the American job market this year. There have been more mass layoffs in all industries, and in 2025 alone, more than 800,000 people lost their jobs. This is the worst start to a year for jobs since the economy fell apart because of COVID-19.No industry seems to be safe, from tech to retail. Technology, retail, and government sectors lead the pack, with AI and federal budget cuts driving much of the disruption.Outplacement firm Challenger, Gray, and Christmas reported Thursday that U.S.-based employers announced 62,075 job cuts in July, up 29% from June and 140% from 25,885 in July 2024.Employers have announced 806,383 layoffs so far this year, the most since 2020, when COVID caused economic disruption. Compared to 460.5K job cuts in the first seven months of 2024, the year-to-date total is up 76%.Compared to the average of 23,584 job cuts since the pandemic, the July cuts are significantly higher.According to Andrew Challenger, senior vice president of Challenger, Gray & Christmas, "weare seeing the federal budget cuts implemented by DOGE impact non-profits and healthcare in addition to the government." "AI was cited for over 10,000 cuts last month, and tariff concerns have impacted nearly 6,000 jobs this year," as per a report by Seeking Alpha.In terms of hiring, American companies anticipate adding 86,132 positions through July 2025, compared to 73,596 during the same time last year. With 28,190 new positions announced, nearly a third of the hiring plans were in the entertainment and leisure sector.In terms of industry-specific job cuts, government organizations accounted for 3,666 layoffs in July, compared to 3,801 in June.Out of all sectors, job cuts totalled 292,294 so far this year. With 89,251 layoffs so far in 2025, a 36% increase from the same period in 2024, technology is the sector most responsible for the private sector's job losses.Compared to the same period last year, retail announced 80,487 job cuts through July, a 249% increase. Compared to the same period last year, nonprofits announced 17,826 job cuts in the first seven months of this year, a five-fold increase.The job crisis in the United States is getting worse. In 2025, there were more than 806,000 layoffs, the most in a single year since the COVID pandemic. In July, there were 29% more job cuts than in June. The technology, retail, and government sectors are the most affected, with AI and cuts to the federal budget being two of the main causes.This year, the technology, retail, government, and non-profit sectors have seen the most layoffs.In the last month alone, AI-driven changes have resulted in the loss of over 10,000 jobs.
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While India may now be the largest market in the world in terms of options contracts traded, he explained that these trades are often low in premium value, meaning less money is involved per contract. In contrast, US markets operate with far greater sums of capital per trade. Kamath pointed out that India's margin funding market is still under 10 billion dollars, whereas the United States recently surpassed one trillion dollars. This stark difference, he noted, highlights the risk of making surface-level comparisons without looking at the underlying leverage or capital exposure. India's financial markets are still maturing According to Kamath, India's financial markets are roughly 15 to 20 years behind the United States in terms of market maturity and structural development. He pointed to the limited penetration of mechanisms such as margin trading, stock lending, and short selling in India, compared to their extensive use in the US. He further argued that India's options trading ecosystem is still predominantly retail-driven, meaning individual investors are placing smaller, more frequent bets with relatively lower capital exposure. On the other hand, US options markets are largely institutional, where trades are fewer in number but far more substantial in terms of value and leverage. US culture encourages speculation across sectors Kamath didn't stop at structural financial differences. He also criticised the broader culture of speculation embedded in American society. Calling the US a 'gambling society,' he cited a recent $210 million wager on whether Ukrainian President Volodymyr Zelensky would wear a suit at the NATO summit as an example of extreme speculative behaviour. He argued that gambling in the US goes far beyond casinos. It spans across the stock market, sports betting, prediction markets, lotteries, and cryptocurrency platforms. 'You can bet on anything,' he remarked, suggesting that this widespread acceptance of speculative behaviour shapes the American approach to investing and risk in general. Simple volume comparisons are misleading Kamath strongly criticised what he described as a misleading narrative that India is dangerously overleveraged simply because of the sheer volume of options contracts being traded. He argued that this view fails to consider the nuances of how leverage works and ignores the capital involved in each transaction. 'Just counting contracts without understanding the structure is misleading,' he wrote. According to him, metrics like total market exposure, margin usage, and premium values offer a much clearer picture of actual risk levels than raw trading volume ever could. Support from investor community Kamath's statements found resonance within the investor and trader community. Many users echoed his views online, pointing out that structural and cultural factors are crucial in understanding any market's behaviour. One user remarked, 'Comparing India to the US in leverage is like bringing a water pistol to a wildfire,' highlighting the vast difference in scale. Another added, 'India's market is retail-led, and the US is dominated by institutions. Their leverage capacities aren't even in the same ballpark.' Others praised Kamath for calling out misleading narratives and presenting a more balanced view of India's evolving financial landscape. A call for nuanced understanding In conclusion, Kamath urged analysts, commentators, and financial media to exercise greater nuance when comparing India's financial markets to those in the US. He argued that surface-level metrics like contract volume do not adequately reflect real risk exposure, especially in a country where financial infrastructure is still developing. 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