The May jobs report was a blowout. 172,000 jobs added. Unemployment at 4.3 percent.

Here is what the headlines did not tell you. Half of all industry sectors have lost jobs over the past year. The share of long-term unemployed workers rose to 27.5 percent – up from 20.4 percent a year ago. Tech layoffs have now reached nearly 150,000 people in 2026, a 44 percent increase in pace over last year. AI was the leading cause of job cuts for the third straight month.

Google quietly laid off cybersecurity staff to reinvest in AI. The median job search now takes nearly three months. On Reddit, job seekers report sending over 100 applications for a single interview.

The gap between reported strength and lived reality keeps growing wider.

No fluff. Just what is actually happening.

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