PANews reported on November 28th that Goldman Sachs warned of "cracks" in the US labor market. WARN filings related to planned large-scale layoffs across states have risen to their highest level since 2016 (excluding the peak of the pandemic); Challenger statistics show that October layoff announcements were close to recession-level levels, primarily from the technology, industrial goods, and food and beverage sectors. Goldman Sachs stated that the combination of layoffs and low hiring rates makes it even harder for the unemployed to find new jobs. Initial jobless claims remain low, but typically lag behind private sector layoff data by about two months and may rise in the winter. Amazon plans to cut approximately 14,000 corporate jobs this fall. Goldman Sachs stated that current evidence is insufficient to conclude that AI is the primary driver of layoffs.PANews reported on November 28th that Goldman Sachs warned of "cracks" in the US labor market. WARN filings related to planned large-scale layoffs across states have risen to their highest level since 2016 (excluding the peak of the pandemic); Challenger statistics show that October layoff announcements were close to recession-level levels, primarily from the technology, industrial goods, and food and beverage sectors. Goldman Sachs stated that the combination of layoffs and low hiring rates makes it even harder for the unemployed to find new jobs. Initial jobless claims remain low, but typically lag behind private sector layoff data by about two months and may rise in the winter. Amazon plans to cut approximately 14,000 corporate jobs this fall. Goldman Sachs stated that current evidence is insufficient to conclude that AI is the primary driver of layoffs.