US-based employers announced 62,075 job cuts for the month of July this year. Compared to the same month last year, job cuts were up by a staggering 140%. And that marks the highest number of job cuts for the month of July since 2020. Not so much a summer lull this time around it would seem. For some context, the July average in the past four years is around 23,575.

Source: Forex Live