They call it the “Great Freeze.” That is how some analysts describe the U.S. job market recently, a “low-hire, low-fire” environment where workers who have jobs are not losing them, but finding a new job is difficult. A thaw may be coming.

A “slew” of “large-scale layoffs” may be a sign that the labor market is “starting to tip over,” said Axios . Amazon announced it will slash 14,000 jobs, UPS said it was cutting 48,000 positions and Paramount said it was laying off 1,000 workers. The unemployment rate had hovered around 4% for more than a year, but that “ apparent stability ” has concealed “change beneath the surface.” Now, companies appear ready to “take advantage of the potential of AI to transform work.” This could mean fewer jobs for humans.

The massive layoffs suggest the

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