Layoffs, Low Pay, AI Threat: What’s Behind the Job Market Crisis?

🎥 WBN TV – "AI, Layoffs & The Future of Work"

Title: Is This the Worst Time to Be an Employee?

By George Moen I CoFounder - Publisher I June 10, 2025

Runtime: ~6 mins
Source: Firstpost

📌 Summary:

The global job market is in turmoil. Layoffs are accelerating across nearly every sector — from Procter & Gamble to Google — with more than 78,000 tech workers already losing jobs this year. Traditional hiring is slowing down, particularly for youth, with global youth unemployment at 13% and job confidence hitting record lows.

In major economies like the UK, a quarter of the working-age population is without jobs, and even graduates can’t secure roles in supermarkets. Meanwhile, salary growth remains sluggish: Italy leads Europe with just 2.7% growth, and India, despite a 9% average hike, is seeing its slowest increase in three years.

The rising threat? Artificial Intelligence is already replacing human labor. Over 41% of employers plan workforce reductions, citing AI’s cost-cutting and efficiency advantages.

Without rapid upskilling, millions risk obsolescence. However, with it, workers can improve job security, earning potential, and global GDP, which is projected to grow by $6 trillion through widespread skill development.

🎙️ Bottom Line:
This isn’t just a temporary downturn — it’s a fundamental reset of the workforce. The future belongs to those who adapt.

WBN News Live Team

TAGS: #WBN News Live #Workforce Crisis #Future Of Work #AI Jobs Threat #Youth Unemployment #Wage Stagnation #Global Economy