Announced job cuts surged to highest level since pandemic
Small firms that employ nearly half of private workers are pulling back hard
Weakness is spreading fast from Main Street
The US job market is showing further signs of weakness:
Only 9% of small business owners said in May that they plan to hire over the next 3 months, the lowest since May 2020.
Excluding the 2020 pandemic, this is the lowest reading in 10 years.
Small business hiring plans have… pic.twitter.com/pF2Qe40L0h
— The Kobeissi Letter (@KobeissiLetter) June 13, 2026
U.S. JOB CUTS SURGE TO HIGHEST LEVEL SINCE MAY 2020 AS LAYOFFS ACCELERATE
AMERICAN EMPLOYERS ANNOUNCED 97,000+ JOB CUTS IN MAY, MARKING WORST MONTH IN FIVE YEARS
— First Squawk (@FirstSquawk) June 14, 2026
U.S. SMALL BUSINESS HIRING PLANS FALL TO LOWEST LEVEL SINCE MAY 2020
ONLY 9% OF SMALL BUSINESS OWNERS PLAN TO HIRE IN THE NEXT THREE MONTHS
HIRING INTENT DROPS WELL BELOW HISTORICAL AVERAGE, SIGNALING LABOR MARKET SOFTENING
— First Squawk (@FirstSquawk) June 14, 2026