Employment at US companies increased in October, signaling some stabilization in the job market after two straight months of declines.

The U.S. economy shed jobs in October amid losses in the government and retail sectors, while cost-cutting and the adoption of artificial intelligence by businesses led to a surge in announced layoffs,

The US job market faces a “Great Freeze”: companies aren’t firing but aren’t hiring much either, leaving career growth stalled and job opportunities limited.

Companies announced the most October job cuts in over 20 years—153,074 positions—as AI adoption and cost-cutting accelerate across industries. Tech and warehouse sectors led layoffs, with Amazon, Target,

The U.S. labor market has been characterized as a 'no hire, no fire' landscape for much of the past year. But 'no hire, more fire' increasingly looks more accurate, providing further ammunition for the Federal Reserve to cut interest rates.

The major gauges have reached a holding pattern in a volatile week with investors seeking firm news on tariffs, earnings and Tesla.

Layoffs in the US surged in October, with 153,000 job cuts reported, the worst since 2003. Major companies are reducing staff, particularly in the tech and retail sectors, citing cost-cutting measures and the impact of AI.

The dollar retreated in early Asia trade on Friday, leading declines among major currencies as investors lacking official data on the U.S. labour market seized upon signs of weakness in private sector surveys.

Amazon said Tuesday that it will cut about 14,000 corporate jobs, close to 4% of its workforce, as the online retail giant ramps up spending on AI while trimming costs elsewhere. A letter to employees said most workers would be given 90 days to look for a new position internally.

Wall Street opened flat. Strong ADP jobs report showed 42,000 private jobs added in October, easing market fears despite a tech stock drop

US stock market crash deepened Thursday as AI overhype fears collided with bleak jobs data. Dow Jones fell 0.8%, S&P 500 dropped 0.9%, and Nasdaq tumbled 1.6%. Challenger data showed 153,074 layoffs in October — the worst since 2003.

The United States gained 42,000 jobs in October, the first increase since July as measured by ADP, a private payroll processing company and the only source of jobs estimates during the government shutdown,