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Job cuts in the United States came in at 47,999 in June, Challenger, Gray & Christmas Inc. said in its report published on Wednesday. The figure registered a harsh drop of 49% from May's 93,816 and a 2% dip from the same period last year.
The report also revealed the retail sector led private-sector layoffs in 2025 with 79,865 job cuts, marking a 255% jump from last year, while the government eliminated 288,628 positions, mostly at the federal level, many still entangled in legal disputes.
United States President Donald Trump announced that he would be imposing a tariff of 10% on countries aligning with what he called the "anti-American policies of BRICS."
The Chinese Foreign Ministry commented on Monday on United States President Donald Trump imposing a 10% tariff on countries aligned with the BRICS group, stating that it opposes the use of tariffs "as a tool of coercion and pressure." BRICS includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.
United States President Donald Trump said he will announce new trade measures involving at least seven countries on Wednesday morning, adding that more countries would follow in the afternoon.
Trump shared the update on social media but did not name the specific countries or give details on the planned actions. Trump ended his message by saying, "Thank you for your attention to this matter."
The United States House of Representatives has passed US President Donald Trump's spending-cut bill, which will cut $9 billion in spending that has already been approved, sending it to the president to be signed into law.
The bill was passed with a vote of 216-213. The cuts are mainly aimed at public media and foreign aid, cutting $1.1 billion from the Corporation for Public Broadcasting and $8 billion from foreign aid, including the US Agency for International Development (USAID).
The seasonally adjusted unemployment rate in Germany stood at 6.3% in July, rising by 0.1 percentage points from the previous month, the Federal Employment Agency (Bundesagentur fuer Arbeit) revealed in its report on Thursday.
The number of unemployed people in Germany came in at 2,979,000 in the reported month, increasing by 65,000 compared to June and by 171,000 compared to July 2024. On a seasonally adjusted basis, unemployment was up by 2,000 on a monthly basis.