US Daily Data Recap "Claims and AI job cut announcements rise" Wilcox

Research evidence excerpt

US Daily Data Recap "Claims and AI job cut announcements rise" Wilcox

Global Research

4 June 2026ab

US Daily Data Recap Economics

AmericasClaims and AI job cut announcements rise

Amanda Wilcox

Economist

Fed commentary this week — the Committee's last chance to opine ahead of the pre- amanda.wilcox@ubs.com

+1-212-713 3899

meeting quiet period beginning Saturday — has highlighted ongoing concern about

upside inflation risks, with Presidents Logan and Hammack warning that persistent Jonathan Pingle

inflation may require higher rates, even as officials broadly agree it is appropriate to hold Economist

policy steady for now. Meanwhile, FRB of New York President Williams said policy is in jonathan.pingle@ubs.com

+1-212-713 2225

"exactly the right place," and he did not signal a need to raise or lower rates right now.

We updated our rate outlook for the FOMC in the "US Economics Weekly: Employment Alan Detmeister

report & Fed in a bind" on page 3. Economist

alan.detmeister@ubs.com

+1-212-713 1222

Job cut announcements rose 11K in May to 81K seasonally adjusted (up 14K to 97K not

Abigail Wattseasonally adjusted), with the four month average slightly above pre pandemic levels.

According to the outplacement firm Challenger, Gray & Christmas, firms are increasingly abigail.watt@ubs.com

citing AI, along with mergers, acquisitions, and bankruptcies, as key drivers of layoffs, +1-212-882 6929

with AI alone accounting for 40% of May cuts and becoming the leading stated reason

Jalen Nichols

for 2026 cuts year-to-date. The technology sector continues to dominate both layoffs

and hiring plans, posting sharp increases in job cuts — up 66% year to date — while still jalen.nichols@ubs.com

leading in planned hiring despite historically subdued overall hiring levels. +1-212-882 6905