In the fourth quarter of 2024, the unemployment rate in the information industry in the United States stood at *** percent, increasing from *** percent in the same quarter of 2023. In 2020, the tech industry was hit hard by the economic recession brought about by the COVID-19 pandemic, registering a record ** percent unemployment rate during the second quarter. Information industry in the U.S. The U.S. information industry consists of those businesses involved in the production or distribution of information, those involved in providing a means to distribute information and data, and those involved in data processing. More specifically, the sector is comprised of * segments: publishing industries (except internet), motion picture and sound recording industries, broadcasting (except internet), telecommunications, data processing/hosting, and other information services. Employment in the U.S. information industry As a whole, the sector employs nearly ************* people around the United States and accounts for a significant portion of the country’s entertainment industry. As unemployment has fallen, average hourly earnings within the sector have also risen sharply within the past decade, now amounting to almost ** dollars per hour. This trend towards more favorable employment conditions comes at a time when union membership within the industry declined to *** percent in 2022.

The tech industry had a rough start to 2024. Technology companies worldwide saw a significant reduction in their workforce in the first quarter of 2024, with over ** thousand employees being laid off. By the second quarter, layoffs impacted more than ** thousand tech employees. In the final quarter of the year around ** thousand employees were laid off. Layoffs impacting all global tech giants Layoffs in the global market escalated dramatically in the first quarter of 2023, when the sector saw a staggering record high of ***** thousand employees losing their jobs. Major tech giants such as Google, Microsoft, Meta, and IBM all contributed to this figure during this quarter. Amazon, in particular, conducted the most rounds of layoffs with the highest number of employees laid off among global tech giants. Industries most affected include the consumer, hardware, food, and healthcare sectors. Notable companies that have laid off a significant number of staff include Flink, Booking.com, Uber, PayPal, LinkedIn, and Peloton, among others. Overhiring led the trend, but will AI keep it going? Layoffs in the technology sector started following an overhiring spree during the COVID-19 pandemic. Initially, companies expanded their workforce to meet increased demand for digital services during lockdowns. However, as lockdowns ended, economic uncertainties persisted and companies reevaluated their strategies, layoffs became inevitable, resulting in a record number of *** thousand laid off employees in the global tech sector by the end of 2022. Moreover, it is still unclear how advancements in artificial intelligence (AI) will impact layoff trends in the tech sector. AI-driven automation can replace manual tasks leading to workforce redundancies. Whether through chatbots handling customer inquiries or predictive algorithms optimizing supply chains, the pursuit of efficiency and cost savings may result in more tech industry layoffs in the future.

In 2024, the tech sector experienced a significant number of layoffs, with the hardware industry hit the hardest with over **** thousand employees laid off that year. Close behind was the transportation sector, which witnessed over ** thousand layoffs. In general, over a third of all tech layoffs in 2024 occurred during the first quarter, with the number of laid-off tech employees decreasing quarter-on-quarter for the remainder of the year.

In April 2025, the agriculture and related private wage and salary workers industry had the highest unemployment rate in the United States, at eight percent. In comparison, government workers had the lowest unemployment rate, at 1.8 percent. The average for all industries was 3.9 percent. U.S. unemployment There are several factors that impact unemployment, as it fluctuates with the state of the economy. Unfortunately, the forecasted unemployment rate in the United States is expected to increase as we head into the latter half of the decade. Those with a bachelor’s degree or higher saw the lowest unemployment rate from 1992 to 2022 in the United States, which is attributed to the fact that higher levels of education are seen as more desirable in the workforce. Nevada unemployment Nevada is one of the states with the highest unemployment rates in the country and Vermont typically has one of the lowest unemployment rates. These are seasonally adjusted rates, which means that seasonal factors such as holiday periods and weather events that influence employment periods are removed. Nevada's economy consists of industries that are currently suffering high unemployment rates such as tourism. As of May 2023, about 5.4 percent of Nevada's population was unemployed, possibly due to the lingering impact of the coronavirus pandemic.

The tech industry had a rough start to 2024. Technology companies worldwide saw a significant reduction in their workforce in the first quarter of 2024, with over ** thousand employees being laid off. By the second quarter, layoffs impacted more than ** thousand tech employees. In the final quarter of the year around ** thousand employees were laid off. Layoffs impacting all global tech giants Layoffs in the global market escalated dramatically in the first quarter of 2023, when the sector saw a staggering record high of ***** thousand employees losing their jobs. Major tech giants such as Google, Microsoft, Meta, and IBM all contributed to this figure during this quarter. Amazon, in particular, conducted the most rounds of layoffs with the highest number of employees laid off among global tech giants. Industries most affected include the consumer, hardware, food, and healthcare sectors. Notable companies that have laid off a significant number of staff include Flink, Booking.com, Uber, PayPal, LinkedIn, and Peloton, among others. Overhiring led the trend, but will AI keep it going? Layoffs in the technology sector started following an overhiring spree during the COVID-19 pandemic. Initially, companies expanded their workforce to meet increased demand for digital services during lockdowns. However, as lockdowns ended, economic uncertainties persisted and companies reevaluated their strategies, layoffs became inevitable, resulting in a record number of *** thousand laid off employees in the global tech sector by the end of 2022. Moreover, it is still unclear how advancements in artificial intelligence (AI) will impact layoff trends in the tech sector. AI-driven automation can replace manual tasks leading to workforce redundancies. Whether through chatbots handling customer inquiries or predictive algorithms optimizing supply chains, the pursuit of efficiency and cost savings may result in more tech industry layoffs in the future.

As of January 2024, the tech startup with the most layoffs was Amazon, with over 27 thousand layoffs, across five separate rounds of layoffs. It was followed by Meta and Google with around 21 thousand and 12 thousand job cuts announced respectively.

Layoffs in in the technology industry

Overall, layoffs across all industries began in 2020 due to the outbreak of the coronavirus (COVID-19) pandemic, with tech layoffs increasing in 2022. In the first quarter of 2023 alone, more than 167 thousand employees had been fired worldwide, a record number of job cuts in a single quarter and more than all of the layoffs announced in 2022 combined, marking a harsh start to of 2023 for the tech sector. From retail to finance and education, all sectors are suffering from this widespread downsizing. However, retail tech startups were hit the most, with almost 29 thousand layoffs announced as of September 2023. Most job losses happened in the United States, where tech giants like Amazon, Meta, and Google are based.

Reasons behind increasing tech layoffs

Layoffs in the technology sector started with the COVID-19 pandemic in 2020 when entire cities were in lockdown and mobility was restricted. Although restrictions loosened up in 2021, events such as the Russia-Ukraine war, the downturn in Chinese production, and rising inflation had a significant impact on the tech industry and continue to represent major concerns for tech companies. As a consequence, companies across the world have yet to overcome all economic challenges, examples of which are rising material and labor costs, as well as decreasing profit margins. To address such difficulties, tech companies have appointed business plans. For instance, in the United States, tech firms planned to focus more on consumer retention, automating software, and cutting operating expenses.

In 1990, the unemployment rate of the United States stood at 5.6 percent. Since then there have been many significant fluctuations to this number - the 2008 financial crisis left millions of people without work, as did the COVID-19 pandemic. By the end of 2022 and throughout 2023, the unemployment rate came to 3.6 percent, the lowest rate seen for decades. However, 2024 saw an increase up to four percent. For monthly updates on unemployment in the United States visit either the monthly national unemployment rate here, or the monthly state unemployment rate here. Both are seasonally adjusted. UnemploymentUnemployment is defined as a situation when an employed person is laid off, fired or quits his work and is still actively looking for a job. Unemployment can be found even in the healthiest economies, and many economists consider an unemployment rate at or below five percent to mean there is 'full employment' within an economy. If former employed persons go back to school or leave the job to take care of children they are no longer part of the active labor force and therefore not counted among the unemployed. Unemployment can also be the effect of events that are not part of the normal dynamics of an economy. Layoffs can be the result of technological progress, for example when robots replace workers in automobile production. Sometimes unemployment is caused by job outsourcing, due to the fact that employers often search for cheap labor around the globe and not only domestically. In 2022, the tech sector in the U.S. experienced significant lay-offs amid growing economic uncertainty. In the fourth quarter of 2022, more than 70,000 workers were laid off, despite low unemployment nationwide. The unemployment rate in the United States varies from state to state. In 2021, California had the highest number of unemployed persons with 1.38 million out of work.

Number of persons in the labour force (employment and unemployment) and unemployment rate, by North American Industry Classification System (NAICS), gender and age group.

In 2023, China's labor force amounted to approximately 772.2 million people. The labor force in China indicated a general decreasing trend in recent years. As both the size of the population in working age and the share of the population participating in the labor market are declining, this downward trend will most likely persist in the foreseeable future. A country’s labor force is defined as the total number of employable people and incorporates both the employed and the unemployed population. Population challenges for China One of the reasons for the shrinking labor force is the Chinese one-child policy, which had been in effect for nearly 40 years, until it was revoked in 2016. The controversial policy was intended to improve people’s living standards and optimize resource distribution through controlling the size of China’s expanding population. Nonetheless, the policy also led to negative impacts on the labor market, pension system and other societal aspects. Today, China is becoming an aging society. The increase of elderly people and the lack of young people will become a big challenge for China in this century. Employment in China Despite the slowing down of economic growth, China’s unemployment rate has sustained a relatively low rate. Complete production chains and a well-educated labor force make China’s labor market one of the most attractive in the world. Working conditions and salaries in China have also improved significantly over the past years. Due to China’s leading position in terms of talent in the technology industry, the country is now attracting investment from some of the world’s leading companies in the high-tech sector.

In 2023, China's labor force amounted to approximately 772.2 million people. The labor force in China indicated a general decreasing trend in recent years. As both the size of the population in working age and the share of the population participating in the labor market are declining, this downward trend will most likely persist in the foreseeable future. A country’s labor force is defined as the total number of employable people and incorporates both the employed and the unemployed population. Population challenges for China One of the reasons for the shrinking labor force is the Chinese one-child policy, which had been in effect for nearly 40 years, until it was revoked in 2016. The controversial policy was intended to improve people’s living standards and optimize resource distribution through controlling the size of China’s expanding population. Nonetheless, the policy also led to negative impacts on the labor market, pension system and other societal aspects. Today, China is becoming an aging society. The increase of elderly people and the lack of young people will become a big challenge for China in this century. Employment in China Despite the slowing down of economic growth, China’s unemployment rate has sustained a relatively low rate. Complete production chains and a well-educated labor force make China’s labor market one of the most attractive in the world. Working conditions and salaries in China have also improved significantly over the past years. Due to China’s leading position in terms of talent in the technology industry, the country is now attracting investment from some of the world’s leading companies in the high-tech sector.

Israel's employment landscape in 2023 showcases education as the leading sector, employing over 545,000 people. This will figure will need to continue to grow in the future if the education system will meet with the country's projected growth in student enrollment, expected to double by 2060. Following education, the health and social work sector follows closely, employing just over 500,000 Israelis, reflecting the nation's expansive healthcare system and mandatory insurance policy. Labor force participation and unemployment trends Despite a challenging geopolitical condition, the local employment market continues to demonstrate resilience. In 2023, labor force participation reached approximately 67 percent for men and 60 percent for women aged 15 and older. Concurrently, the country experienced a decreasing rate of unemployment, reaching its lowest level in recent years. This positive trend extended to youth unemployment, which stood at just over six percent in 2023. Technology sector hiring slows While education and healthcare dominate employment figures, Israel's important technology industry continues to grow, albeit at a slower pace. In 2023, the sector added about 10,000 workers, reaching nearly 400,000 employees. However, this represented a significant drop in new hiring compared to the previous year. Factors such as a slowing of global venture capital markets and a controversial government-led judicial reform impacted the industry's expansion.

Employment by industry and sex, UK, published quarterly, non-seasonally adjusted. Labour Force Survey. These are official statistics in development.

Career Advisory Service Market Outlook

The global Career Advisory Service market size was valued at approximately $2.5 billion in 2023 and is projected to reach $5.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.3% during the forecast period. The growth factor driving this market includes the increasing need for career guidance due to rapid changes in job markets and the evolving landscape of career opportunities.

One of the major growth factors for the Career Advisory Service market is the continuous transformation in various industries driven by technological advancements. As industries adapt to digitalization and automation, the skill requirements for jobs are changing rapidly. This transformation compels both new job seekers and experienced professionals to seek career advisory services to stay relevant in the job market. Moreover, the rise of new job roles, especially in tech-driven sectors, has created a demand for specialized career counseling and job search assistance.

Another significant driver is the growing awareness of career management among students and professionals. Educational institutions and corporations are increasingly recognizing the importance of career development services in ensuring long-term success. Programs aimed at enhancing employability skills, such as resume building and interview preparation, are becoming integral components of educational curricula and corporate training sessions. This shift is expected to bolster market growth as more institutions and companies invest in career advisory services.

Additionally, the increasing competition in the job market has driven individuals to seek out professional career advisory services to gain a competitive edge. High unemployment rates in certain regions, coupled with the influx of graduates entering the job market, have made it vital for candidates to differentiate themselves. Services such as personalized career counseling and job search assistance are becoming essential for job seekers to navigate the competitive landscape effectively. The emphasis on lifelong learning and career adaptability further accentuates the demand for these services.

In terms of the regional outlook, North America is expected to dominate the market due to the presence of numerous career advisory firms and a high level of awareness about career development services. The region's robust educational infrastructure and a strong corporate sector further contribute to the market's growth. Meanwhile, Asia Pacific is anticipated to witness the fastest growth, driven by rapid economic development, urbanization, and a burgeoning middle class increasingly investing in career advancement services.

Service Type Analysis

The Career Advisory Service market is segmented by service type, which includes Career Counseling, Resume Building, Interview Preparation, Job Search Assistance, and Others. Career Counseling is expected to hold a significant share of the market. This service type involves personalized guidance to help individuals understand their career options, strengths, and areas for improvement. The growing complexity of career choices and the emphasis on achieving career satisfaction are key factors driving the demand for career counseling services. Additionally, career counseling services are evolving to include not only traditional counseling but also digital platforms and AI-driven tools that provide tailored advice.

Resume Building services are also crucial in the career advisory ecosystem. With the increasing importance of first impressions in job applications, professionally crafted resumes can significantly enhance a candidate's chances of securing job interviews. This service type is gaining traction as job seekers recognize the value of a well-presented resume in catching the attention of potential employers. Companies offering resume building services are incorporating advanced techniques such as keyword optimization and industry-specific formatting to meet the expectations of automated recruitment systems and human recruiters alike.

Interview Preparation services are essential for job seekers aiming to perform effectively during job interviews. These services often include mock interviews, feedback sessions, and tips on handling common interview questions. The rise in remote and video interviews, especially post-pandemic, has led to a surge in demand for specialized interview preparation services that address the nuances of virtual communication. Interview preparation services are not only beneficial for entry-level candidates

Between 2023 and 2027, the majority of companies surveyed worldwide expect big data to have a more positive than negative impact on the global job market and employment, with ** percent of the companies reporting the technology will create jobs and * percent expecting the technology to displace jobs. Meanwhile, artificial intelligence (AI) is expected to result in more significant labor market disruptions, with ** percent of organizations expecting the technology to displace jobs and ** percent expecting AI to create jobs.

The statistic reflects the seasonally adjusted unemployment rate in member states of the European Union in November 2024. The seasonally adjusted unemployment rate in Spain in November 2024 was 11.2 percent.The unemployment rate represents the share of the unemployed in all potential employees available to the job market. Unemployment rates in the EU The unemployment rate is an important measure of a country or region’s economic health, and despite unemployment levels in the European Union falling slightly from a peak in early 2013 , they remain high, especially in comparison to what the rates were before the worldwide recession started in 2008. This confirms the continuing stagnation in European markets, which hits young job seekers particularly hard as they struggle to compete against older, more experienced workers for a job, suffering under jobless rates twice as high as general unemployment. Some companies, such as Microsoft and Fujitsu, have created thousands of jobs in some of the countries which have particularly dire unemployment rates, creating a beacon of hope. However, some industries such as information technology, face the conundrum of a deficit of qualified workers in the local unemployed work force, and have to hire workers from abroad instead of helping decrease the local unemployment rates. This skills mismatch has no quick solution, as workers require time for retraining to fill the openings in the growing science-, technology-, or engineering-based jobs, and too few students choose degrees that would help them obtain these positions. Worldwide unemployment also remains high, with the rates being worst in the Middle East and North Africa. Estimates by the International Labour Organization predict that the problem will stabilize in coming years, but not improve until at least 2017.

Over the five years through 2025-26, revenue is expected to increase at a compound annual rate of 2.3% to £5 billion. The numerous benefits of online education and training (e.g. reduced learning and development costs, time savings and flexibility and promotion of continuous development) have spurred growth. Recognising its advantages, the government has implemented a series of measures to hasten the uptake of educational technology by investing in improving household internet connections across the UK. The rise in student numbers has supported demand for additional training courses for those looking to boost their grades. The COVID-19 pandemic hiked revenue during 2020-21, with the forced closure of schools and universities pushing many courses online. Many universities are now committed to ensuring lectures and course material are uploaded online, a legacy of the COVID-19 technological wave. Revenue is anticipated to grow by 2.6% over 2025-26, with growth picking up again after naturally slowing following the surge in demand during the pandemic and encouragement from many critics to return to face-to-face learning to improve the learning experience and re-connect classmates. Over the five years through 2030-31, revenue is forecast to climb at a compound annual rate of 4.6% to £6.2 billion. The COVID-19 pandemic has hastened the adoption of online education and training, as lockdown periods normalised the use of technology and individuals have become accustomed to a new learning method. Unemployment rates are low, but a high number of vacancies remain, despite falling from COVID-19 highs, that aren't being met with the right skills, which is encouraging online learning and training. The number of UK 16- to 18-year-olds participating in full-time education is high, with record university applications that will boost online learning too. The growing skills gap will sustain demand as online platforms look to adapt to the changing job market and provide employees with the skills needed to secure work. The rise of free educational content through social media platforms like YouTube and LinkedIn will constrain future growth. The average profit margin is expected to expand to 18.4% in 2030-31.

The unemployment rate in the Republic of Ireland was 4.7 percent in August 2025, compared with 4.8 percent in the previous month. Between 2000 and 2007, Ireland's unemployment rate was broadly stable, fluctuating between 3.9 and 5.4 percent. Following the global financial crisis, however, Ireland's unemployment rate increased dramatically, eventually peaking at 16.1 percent in early 2012. For the next eight years, unemployment gradually fell, eventually reaching pre-crisis levels in the late 2010s. This was, however, followed by an uptick in unemployment due to the COVID-19 pandemic, which peaked at 7.6 percent in March 2021, before falling to pre-pandemic levels by February 2022. Risk and rewards of the Irish economic model After being quite hard hit by the global financial crisis of 2008, Ireland staged a strong recovery in the mid-2010s, and was frequently the EU's fastest growing economy between 2014 and 2022. This growth, was however, fueled in part by multinational companies, such as Apple, basing their European operations in the country. As of 2022, an adjusted measure of gross national income valued Ireland's economy at around 273 billion Euros, rather than the 506 billion Euros GDP figure. Ireland's close economic relationship with American tech companies also leaves it vulnerable to the political weather in the United States. It is currently unclear, for example, what the recent return to power of Donald Trump as President in early 2025 could mean for the Irish economy going forward. Ireland's labor market As of the third quarter of 2024, there were approximately 2.79 million people employed in the Republic of Ireland. Of these workers, 379,200 people worked in Ireland's human health and social work sector, the most of any industry at that time. Other sectors with high employment levels include wholesale and retail trade, at 323,500 people, and education, at 228,200 people. While unemployment still remains quite low, some indicators suggest a moderate loosening of the labor market. Job vacancies, are slightly down from their peak of 35,300 in Q2 2022, amounting to 28,900 in Q3 2024, while youth unemployment has begun to tick upwards, and was 11.9 percent in January 2025.

In 2023, the incidence of retrenchment in the information and communications sector in Singapore amounted to **** per 1,000 employees. This sector had the highest incidence of retrenchment in that year, which also saw significant lay-offs in the tech sector globally.

In 2023, China's labor force amounted to approximately 772.2 million people. The labor force in China indicated a general decreasing trend in recent years. As both the size of the population in working age and the share of the population participating in the labor market are declining, this downward trend will most likely persist in the foreseeable future. A country’s labor force is defined as the total number of employable people and incorporates both the employed and the unemployed population. Population challenges for China One of the reasons for the shrinking labor force is the Chinese one-child policy, which had been in effect for nearly 40 years, until it was revoked in 2016. The controversial policy was intended to improve people’s living standards and optimize resource distribution through controlling the size of China’s expanding population. Nonetheless, the policy also led to negative impacts on the labor market, pension system and other societal aspects. Today, China is becoming an aging society. The increase of elderly people and the lack of young people will become a big challenge for China in this century. Employment in China Despite the slowing down of economic growth, China’s unemployment rate has sustained a relatively low rate. Complete production chains and a well-educated labor force make China’s labor market one of the most attractive in the world. Working conditions and salaries in China have also improved significantly over the past years. Due to China’s leading position in terms of talent in the technology industry, the country is now attracting investment from some of the world’s leading companies in the high-tech sector.

In 2024, the employment rate in China decreased to around 62.4 percent, from 62.8 percent in the previous year. China is the world’s most populous country and its rapid economic development over the past decades has profited greatly from its large labor market. While the overall working conditions for the Chinese people are improving, the actual size of the working-age population in China has been shrinking steadily in recent years. This is mainly due to a low birth rate in the country. Economic slowdown – impact on labor market After decades of rapid development, the world’s second largest economy now seems to have difficulties to boost its economy further. The GDP growth rate indicated a declining trend over the last decade and the number of employed people decreased for the first time since decades in 2015. Under the influence of the global economic downturn, the coronavirus pandemic, and the US-China tensions, many Chinese enterprises are having tough times, which leads to a recession in China’s labor market. Chances for better employment situation The long-lasting Sino-U.S. trade war has caused China great loss on its international trade sector, which has been driving China’s economic growth for decades. However, there is also a lot China could improve. First, the potential of domestic demands could be further developed and satisfied with high-quality products. Second, it’s a good timing to eliminate backward industries with low value added, and the high-tech and environment-friendly industries should be further promoted. In addition, China’s market could be more open to services, especially in the financial sector and IT services, to attract more foreign investors. Highly skilled talents should be better valued in the labor market. Efficient vocational education and further education could also help change the structure of China’s labor market.