It's a feel-bad job market for high-earning professionals

"Where it stands: Amazon's latest round of layoffs - 16,000 corporate jobs axed - is the latest piece of grim news for professionals who are growing antsy about the job market. An increasing share of Americans are either reporting that they expect to lose pay or have already lost pay, per Morning Consult's data. A separate report from The Conference Board on Tuesday also showed that people's perceptions about the job market - the so-called labor market differential - are continuing to flag."

"Between the lines: But looming over all of that is AI anxiety. Companies are eager to prove that their copious investments in the technology are paying off, and so are talking up the notion that it'll drive productivity growth and lead to job cuts. Professionals are getting the message that a new technology is here that will probably take their job - at the same time they're being warned that they better learn how to use this technology fast."

"By the numbers: Economic sentiment - feelings about the overall economy and our personal finances - is falling for everyone. Among those making more than $100,000 a year, sentiment dropped more than 10% since the end of 2025, per data from Morning Consult. Zoom out: A drop like this has happened on six other occasions since 2018. But in those cases, the decline was tied to a worsening stock market. This time it's about the job market, says John Leer, Morning Consult's chief economist."

Amazon cut 16,000 corporate jobs, reflecting broader weakness in the professional labor market. More Americans report expecting or having experienced pay losses, and labor market perceptions continue to decline. Economic sentiment about the overall economy and personal finances is falling across income groups, with those earning over $100,000 seeing sentiment drop more than 10% since late 2025. Unlike past sentiment declines tied to stock-market slides, the current deterioration centers on the job market. Hiring in the professional sector has slowed as higher interest rates, earlier over-hiring, and reduced White House spending prompt retrenchment. Rising AI anxiety amplifies concerns as companies emphasize productivity gains and potential job cuts.

Read at Axios