Investment bank Goldman Sachs has sounded the alarm about concerning trends in the U.S. labor market. The number of WARN filings, which signal large-scale layoffs across various states, is now at its highest point since 2016, exceeding the pandemic peak. This surge is primarily concentrated in tech, industrial goods, and food & beverage sectors, according to data from Challenger. Layoff announcements have reached a level resembling recessionary territory, as evidenced by the alarmingly high rate of job cuts, The bank points out that this combination of layoffs and low hiring rates is making it more challenging for unemployed individuals to secure new positions. While initial unemployment claims remain relatively modest, they typically lag behind private sector layoff data by approximately two months, suggesting a potential surge during the coming winter months. Notably, Amazon recently announced plans to cut roughly 14,000 corporate roles this fall. The bank states that there is currently insufficient evidence to attribute these layoffs to artificial intelligence as a primary driver.