US financial industry employment fell 14,000 jobs in July to 9.09M (lowest since July 2022), marking the 5th consecutive monthly decline as firms accelerate AI adoption to reduce labor costs.
AI & Agents ·
The US financial industry lost 14,000 jobs in July, bringing total employment to 9.09 million, the lowest level since July 2022, as firms accelerate artificial intelligence adoption to enhance productivity and cut labor expenses. This represents the fifth straight monthly decline, with cumulative losses reaching 59,000 jobs over that span, and the sector has shed 121,000 positions since May 2025—the steepest contraction outside pandemic conditions since the 2008 financial crisis.