In November, U.S. employers notably increased announced job cuts, particularly in the retail and technology industries, which emerged as the top sectors for layoffs last month, according to reports.
Plans to hire new workers also seemed to drop. Employers announced intentions to hire only 15,566 workers, marking the lowest total for new hires since 2015.
In 2023, the tech sector appears notably weak, losing 93,000 payroll jobs according to the Labor Department.
Job cuts in the tech industry are a big worry for immigrants, especially Indians in the U.S., as many rely on H1B visas for IT jobs.
Also, students coming to the U.S. for Masters degrees are realizing the tough job market, with very few job interview opportunities during this slow period.
