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A.I. Came For Thousands Of Human Jobs Last Month
Lost in the proverbial shuffle Thursday: What might've been the first A.I. cameo in a notable labor market data series.
Not surprisingly, the latest Challenger job cuts data showed announcements jumped almost 290% last month compared to May of 2022. Some 81,000 new announced cuts brought the YTD running total to 417,500, up 315% YoY.
For reference, companies announced around twice as many cuts during the first five months of 2009, when stocks were busy finding a bottom and embarking on the fir
