The jobs market is hot, but layoffs keep coming in a shifting economic environment

The U.S. economy is humming and there are hundreds of thousands of jobs being added every month. In a stunning burst of hiring to start the year, the nation added 353,000 jobs in January. The unemployment rate is hovering at 3.7%, just above a half-century low. At the same time, layoffs continue to arrive across almost every sector in 2024 as companies adjust to a shifting economy. The high profile job cuts seem to arrive steadily, but the companies that went on major hiring sprees, mostly big tech, are still much bigger than they were a few years ago, before they began bulking up their workforces. On Thursday, Electronic Arts announced nearly 700 job cuts.