January 29 News: The US labor market is showing clear signs of cooling down. Major companies such as Amazon, Pinterest, UPS, and Nike have announced layoffs one after another, with Amazon alone cutting about 16,000 jobs in January 2026. Data shows that US employers have cut approximately 1.2 million jobs over the past year, marking the highest layoffs since the pandemic, and recession expectations are rapidly increasing.
According to Global Markets Investor forecasts, US layoffs in 2025 are expected to surge by 58% year-over-year, making it one of the most severe years since the 2008 financial crisis. The average job search duration for unemployed individuals has extended to about 11 weeks, the longest since 2021. Meanwhile, the probability of finding a new job has dropped to 43.1%, further weakening market confidence. Creative Planning strategist Charlie Bilello pointed out that in the past three months, the US has been losing an average of 22,000 jobs per month, and similar situations in history have almost always been accompanied by recessions. Henrik Zeberg, Chief Macroeconomist at Swissblock, also warned that the US economy is accelerating its slide into a downward trend.