US-based employers announced 47,999 job cuts in June 2025, the lowest so far this year, compared to 93,816 in May and 48,786 a year earlier. “The bulk of companies cited economic conditions last month. We saw some DOGE activity and have tracked over 2,000 jobs directly attributed to tariffs this year, but for the most part it was a quiet June,” said Andrew Challenger, Senior VP for Challenger, Gray & Christmas. The consumer products sector cut the most jobs (9,500), followed by services (4,463), financial (4,164), health care (4,068), retail (4,063) and government (3,801). Considering Q2, there were 247,256 job cuts, the highest Q2 total since 2020. So far this year, companies have announced 744,308 cuts, the highest year-to-date since 2020. The government sector has cut 288,628 jobs, primarily in the Federal Government, and many of which are in legal limbo. Retail is the sector that has cut the most private-sector jobs this year with 79,865, hit by tariffs, inflation, and uncertainty.