2025-11-21 02:35:58
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The U.S. job market has shifted dramatically in 2025. Employers announced more than a million layoffs through October, up 65% from the same period last year. Much of the increase came from government reductions, including large DOGE-related cuts.
Meanwhile, sectors like tech, retail, and warehousing continued to shed workers at an accelerated pace. This visualization ranks the industries facing the largest job cuts so far this year. The data for this rank comes from Challenger, Gray & Christmas.
Government job cuts jumped to more than 307,000, over eight times higher than the same period in 2024. A key driver was DOGE-related layoffs, which resulted in widespread workforce reductions. This made government the largest source of job cuts in 2025 by a wide margin.
| Industry | Job Cuts (YTD 2025) | Same period, 2024 |
|---|---|---|
| Government | 307,638 | 37,746 |
| Technology | 141,159 | 120,470 |
| Warehousing | 90,418 | 18,904 |
| Retail | 88,664 | 36,136 |
| Services | 63,580 | 39,296 |
| Financial | 48,968 | 38,625 |
| Health Care/Products | 44,256 | 44,816 |
| Consumer Products | 41,033 | 33,865 |
| Non-Profit | 27,651 | 5,329 |
| Food | 27,457 | 24,729 |
| Automotive | 26,149 | 34,314 |
| Pharmaceutical | 24,689 | 12,751 |
| Telecommunications | 22,896 | 10,280 |
| Entertainment/Leisure | 22,132 | 32,087 |
| Education | 20,013 | 26,466 |
| Media | 16,680 | 13,279 |
| Industrial Goods | 16,656 | 20,616 |
| Transportation | 15,544 | 25,739 |
| Energy | 15,161 | 9,702 |
| Electronics | 7,112 | 3,360 |
| Construction | 7,032 | 10,925 |
| Insurance | 5,324 | 5,990 |
| Apparel | 3,751 | 8,016 |
| Aerospace/Defense | 3,278 | 29,526 |
| Utility | 2,872 | 8,963 |
| Chemical | 2,800 | 1,588 |
| Mining | 2,526 | 1,373 |
| FinTech | 1,864 | 5,054 |
| Real Estate | 1,795 | 4,692 |
| Legal | 403 | 202 |
| Total | 1,099,500 | 664,839 |
The tech sector announced over 141,000 layoffs, extending a multi-year correction driven by restructuring, automation, and slower hiring pipelines. Warehousing recorded one of the steepest increases year over year, rising from 18,900 cuts in 2024 to more than 90,000 in 2025. Retail also saw layoffs more than double.
Not all sectors faced worsening conditions. Aerospace and defense layoffs fell sharply from roughly 29,500 last year to just over 3,200 in 2025. Transportation and apparel also saw significant declines. The improvement in these areas suggests stabilization after several years of turbulence, including Boeing’s 2024 layoff announcement of 2,500 U.S. workers.
If you enjoyed today’s post, check out Visualizing the Cost of the U.S. Government Shutdown on Voronoi, the new app from Visual Capitalist.
2025-11-21 00:32:01
Artificial intelligence (AI) is transforming nearly every part of the global economy, from automating everyday digital tasks to enabling life-saving surgical procedures. As adoption accelerates, investors are asking the same question: where are the biggest opportunities?
This visualization, created in partnership with New York Life Investments, explores four key things investors need to know about AI and how to invest around it.
Hundreds of AI models have emerged across the globe. However, a smaller group of companies is driving the majority of real-world deployment and innovation. Understanding who leads the AI race helps investors identify the firms best positioned to capture value.
Leading the pack by number of large-scale AI models developed are Google (18 models), Meta (14), and OpenAI (10), the creator of ChatGPT.
| Company | Total |
|---|---|
| 18 | |
| Meta | 14 |
| OpenAI | 10 |
| Anthropic | 9 |
| Alibaba | 6 |
| DeepMind | 6 |
| NVIDIA | 5 |
| Mistral AI | 4 |
| Tsinghua | 4 |
| BAAI | 4 |
| Hugging Face | 4 |
Developing these cutting-edge AI systems requires billions in annual R&D spending, as companies around the world pour capital into the next wave of AI breakthroughs.
In 2024, global artificial intelligence investment reached $252 billion, reflecting a rebound in enthusiasm after recent market volatility. While this is below the $361 billion peak in 2021, renewed momentum, particularly in the U.S. and Europe, signals AI’s return as a major driver of global innovation. Corporate investment, venture funding, and government spending are converging to accelerate adoption across sectors from healthcare to manufacturing.
| Year | Private Investment ($ billions) |
|---|---|
| 2017 | 53.7 |
| 2018 | 79.6 |
| 2019 | 103.3 |
| 2020 | 221.9 |
| 2021 | 360.7 |
| 2022 | 253.3 |
| 2023 | 201.0 |
| 2024 | 252.3 |
Financial resources are only part of the story. AI’s explosive growth also requires enormous amounts of electricity, water, and data center capacity.
AI workloads are becoming one of the fastest-growing sources of electricity demand worldwide. Data centers consume vast volumes of energy and water to operate and cool their systems. By 2030, artificial intelligence-related data center requirements could nearly triple, significantly reshaping regional power markets and stressing global infrastructure.
| Year | Share of total U.S. power demand (%) |
|---|---|
| 2023 | 3.7 |
| 2024 | 4.3 |
| 2025P | 5.2 |
| 2026P | 6.5 |
| 2027P | 8.0 |
| 2028P | 9.3 |
| 2029P | 10.3 |
| 2030P | 11.7 |
The technology’s data boom is straining power systems. This is creating major investment opportunities in energy, cooling, and data infrastructure.
With capital, innovation, and infrastructure needs rising rapidly, investors are increasingly looking at performance metrics to see where the strongest returns are emerging.
Riding the wave of AI-driven infrastructure demand, data center REITs surged 25.2% in 2024. This sector dramatically outperformed the broader REIT sector’s 4.9% gain.
| Sector | Performance, 2024 (%) |
|---|---|
| Data Centers | 25.2 |
| Healthcare | 24.2 |
| Office | 21.5 |
| Retail | 14.0 |
| Residential | 12.8 |
| FTSE Nareit All Equity REITs (average) | 4.9 |
| Self Storage | -0.5 |
| Lodging/Resorts | -2.0 |
| Diversified | -10.0 |
| Industrial | -17.8 |
As hyperscalers, cloud providers, and artificial intelligence companies expand their compute capacity, these REITs have become essential assets in the digital economy.
Artificial intelligence is reshaping everything from productivity and innovation to energy grids and global competition. For investors, the key is understanding how the technology aligns with long-term themes such as infrastructure modernization, enterprise digital transformation, and the rise of intelligent automation. Those who position early could benefit from the structural changes AI is driving across industries.
Explore more insights from New York Life Investments
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2025-11-20 23:37:27
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Condo prices in the world’s top urban markets remain sky-high in 2025, reflecting the global trend toward urban density, luxury demand, and limited housing supply.
According to the latest cost-of-living data, the most expensive places to buy an apartment are clustered in a few high-income regions, most notably Switzerland and East Asia.
The data for this ranking comes from Numbeo, a crowd-sourced global cost-of-living database. It compares average prices per square meter (in U.S. dollars) for apartments in city centers worldwide.
Hong Kong maintains its long-standing lead with condos averaging around $25,339 per square meter. Despite recent economic challenges, the city’s limited land, high population density, and enduring appeal as a financial hub continue to drive prices to extreme levels. Singapore, Asia’s other major real estate hotspot, ranks fourth with prices exceeding $22,000 per square meter.
| Rank | City | Price per Square Meter |
|---|---|---|
| 1 |
 Hong Kong (China) |
$25.3K |
| 2 |
 Zurich, Switzerland |
$24.8K |
| 3 |
Lausanne, Switzerland |
$22.9K |
| 4 |
 Singapore, Singapore |
$22.5K |
| 5 |
Bern, Switzerland |
$22.2K |
| 6 |
Geneva, Switzerland |
$21.8K |
| 7 |
 Seoul, South Korea |
$21.6K |
| 8 |
Basel, Switzerland |
$20.9K |
| 9 |
 Tel Aviv-Yafo, Israel |
$19.8K |
| 10 |
 London, United Kingdom |
$19.7K |
| 11 |
 New York, U.S. |
$16.1K |
| 12 |
 Shanghai, China |
$14.8K |
| 13 |
Beijing, China |
$14.7K |
| 14 |
 Taipei, Taiwan |
$14.4K |
| 15 |
 Paris, France |
$13.7K |
| 16 |
 Munich, Germany |
$13.1K |
| 17 |
Shenzhen, China |
$12.3K |
| 18 |
 Sydney, Australia |
$12.1K |
| 19 |
 Luxembourg, Luxembourg |
$12.1K |
| 20 |
 Stockholm, Sweden |
$11.8K |
Switzerland stands out with five cities appearing in the global top 10. Zurich ranks second overall at $24,758 per square meter, while Lausanne and Bern follow closely behind.
These prices reflect Switzerland’s combination of financial stability, strong currency, and limited developable land in urban centers.
Despite its reputation for high property costs, the United States makes only a single appearance in the top 20: New York City at #11. At $16,104 per square meter, it trails markets in Europe, Asia, and the Middle East.
Meanwhile, cities like Tel Aviv, Munich, and Sydney remain high-value real estate markets in their respective regions. The lowest in the top 20, Stockholm, still averages more than $11,000 per square meter.
If you enjoyed today’s post, check out Where’s the World Heading in 2026? on Voronoi, the new app from Visual Capitalist.
2025-11-20 21:07:45
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Economic productivity, measured by the value of goods and services produced per hour worked, is a key indicator of efficiency and overall prosperity.
This chart ranks the world’s 30 largest economies by GDP per hour worked (in U.S. dollars), revealing where output has grown or stagnated over the past two decades.
While advanced economies tend to dominate the top of the list, some emerging markets have seen extraordinary gains as they industrialize and integrate into global supply chains. The data for this visualization comes from the International Labour Organization (ILO).
Ireland tops the ranking for productivity growth, with output per hour rising from $68.8 in 2005 to $139.1 in 2025—a 102% increase. However, much of this is statistical, not structural.
The presence of global tech and pharmaceutical giants like Apple, Google, and Pfizer inflates Ireland’s GDP figures through profit-shifting and intellectual property accounting.
China’s productivity has increased from $4.5 per hour in 2005 to $19.8 in 2025, up more than 340%. The early 2010s brought massive efficiency gains as factories modernized, infrastructure expanded, and manufacturing became more sophisticated.
| Rank | Country | 2005 | 2015 | 2025 |
|---|---|---|---|---|
| 1 |
 Ireland |
$68.8 | $106.6 | $139.1 |
| 2 |
 Norway |
$108.6 | $113.6 | $123.6 |
| 3 |
 Belgium |
$81.5 | $85.4 | $91.6 |
| 4 |
 Netherlands |
$78.1 | $85.1 | $90.4 |
| 5 |
Sweden |
$71.4 | $79.9 | $85.7 |
| 6 |
Switzerland |
$70.3 | $77.9 | $85.4 |
| 7 |
France |
$72.3 | $78.2 | $82.2 |
| 8 |
U.S. |
$63.2 | $70.1 | $81.8 |
| 9 |
Germany |
$66.3 | $73.7 | $80.5 |
| 10 |
Italy |
$73.1 | $74.2 | $74.4 |
| 11 |
UK |
$63.2 | $66.1 | $69.5 |
| 12 |
Australia |
$58.0 | $66.1 | $69.2 |
| 13 |
 Spain |
$53.7 | $61.4 | $67.9 |
| 14 |
Taiwan |
$38.5 | $49.6 | $67.4 |
| 15 |
 Canada |
$57.5 | $62.8 | $67.0 |
| 16 |
Israel |
$45.3 | $51.5 | $60.8 |
| 17 |
 Saudi Arabia |
$85.6 | $62.5 | $56.6 |
| 18 |
 Japan |
$46.6 | $50.6 | $53.7 |
| 19 |
South Korea |
$26.7 | $36.4 | $49.6 |
| 20 |
 Poland |
$28.8 | $36.8 | $48.8 |
| 21 |
 Russia |
$29.0 | $36.8 | $44.3 |
| 22 |
 UAE |
$55.8 | $40.6 | $43.0 |
| 23 |
 Türkiye |
$22.2 | $31.3 | $40.2 |
| 24 |
 Argentina |
$29.3 | $36.6 | $33.4 |
| 25 |
 Mexico |
$21.4 | $23.6 | $22.4 |
| 26 |
 Brazil |
$16.9 | $20.3 | $22.0 |
| 27 |
 Thailand |
$10.7 | $14.9 | $18.5 |
| 28 |
China |
$4.5 | $11.1 | $19.8 |
| 29 |
 Indonesia |
$8.3 | $11.5 | $15.7 |
| 30 |
 India |
$4.3 | $7.2 | $10.7 |
However, growth has slowed in recent years. As wages rise and manufacturing matures, further productivity improvements increasingly depend on automation, AI integration, and service-sector innovation.
Productivity in Saudi Arabia has fallen from $85.6 in 2005 to $56.6 in 2025. The decline reflects both falling oil prices during the 2010s and OPEC+ production caps that curbed output. While diversification efforts under Vision 2030 are expanding non-oil industries, hydrocarbons still dominate the economy.
By contrast, Norway, another resource-rich economy, maintains one of the world’s highest productivity levels at $123.6 per hour, thanks to strong governance, sovereign wealth reinvestment, and a highly skilled workforce.
The U.S., Germany, and France have all seen consistent gains. The U.S. rose from $63.2 to $81.8, Germany from $66.3 to $80.5, and France from $72.3 to $82.2 over the 20-year span.
Western Europe continues to outperform on efficiency thanks to automation and worker training, while Japan and the UK have grown more slowly due to aging populations and stagnant investment.
If you enjoyed today’s post, check out How Quality of Life Has Changed in 30 Countries, According to Citizens on Voronoi, the new app from Visual Capitalist.
2025-11-20 02:23:17
Imagine earning $100 in January, only to have it buy less than $80 worth of goods or services by December. That’s how fast inflation is eating away at purchasing power in some countries.
This graphic, created in partnership with Plasma, highlights countries with the highest inflation rates and what $100 could be worth by the end of 2025. It’s part of our Money 2.0 series, where we highlight how finance is evolving into its next era.
Some countries are facing high inflation rates, which means that prices are rising very quickly. As prices rise, money you already hold will buy you less than it did before.
What does this look like in dollar terms? Using projected 2025 inflation rates from the International Monetary Fund (IMF), we estimated what the equivalent of $100 at the start of the year will be worth by the end of 2025.
| Country | Purchasing Power of $100 by End of 2025 |
|---|---|
 Venezuela |
$15 |
 Sudan |
$67 |
 Iran |
$69 |
|
Türkiye |
$76 |
 Yemen |
$76 |
 Zimbabwe |
$77 |
 Myanmar |
$77 |
 Haiti |
$77 |
 Burundi |
$77 |
|
Argentina |
$78 |
Source: IMF World Economic Outlook, Oct. 2025.
The IMF expects Venezuela will have an inflation rate of nearly 549% in 2025. In practical terms, this means $100 saved at the start of the year would only buy goods worth $15 by December. Economic sanctions from the U.S. have worsened the financial crisis in the country.
Even outside this extreme example, many countries are on track to see the local currency lose about a quarter of its purchasing power over the course of the year. This means wages and savings lose value quickly, making everyday essentials like food and rent harder to afford.
When local money is rapidly losing purchasing power, residents can move their savings into a currency experiencing much lower inflation and more stability.
For instance, stablecoins are primarily pegged to the U.S. dollar and can help people preserve the value of their money. With Plasma One, a global U.S. dollar card, people can quickly sign up on their phone and use their stablecoin balance in more than 150 countries.
Ready for 4% cash back and 10%+ yield? Get early access to Plasma One.
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2025-11-20 01:11:27
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After Nvidia became the world’s first $5 trillion dollar company in October 2025, investors are left wondering which tech giant will reach the milestone next.
To find out, we’ve visualized forecasts that estimate when various companies could reach a $5 trillion market cap based on historical growth trends.
The analysis from BestBrokers.com is based on each company’s 3-year average growth rate.
It projects that Microsoft and Alphabet could reach $5 trillion sometime in the second half of 2026, while others, including Apple and Meta, could follow in 2027.
| Company | Market Cap | 3-Year Average Growth Rate |
Estimated Date to Reach |
|---|---|---|---|
| NVIDIA | $4,970,000,000,000 | 163% | Reached on Oct. 29 |
| Microsoft | $3,940,000,000,000 | 32% | Aug 18, 2026 |
| Alphabet | $3,450,000,000,000 | 43% | Oct 25, 2026 |
| Apple | $4,030,000,000,000 | 18% | Jan 14, 2027 |
| Broadcom | $1,780,000,000,000 | 112% | Feb 20, 2027 |
| Meta | $1,680,000,000,000 | 97% | May 19, 2027 |
| TSMC | $1,580,000,000,000 | 77% | Oct 13, 2027 |
| Amazon | $2,400,000,000,000 | 32% | May 27, 2028 |
| Tesla | $1,510,000,000,000 | 33% | Dec 26, 2029 |
| Oracle | $765,970,000,000 | 56% | Jan 1, 2030 |
Microsoft is expected to be the next company to reach $5 trillion if its 3-year average growth rate of 32% continues. While Microsoft generates a majority of its revenue from cloud services, other segments like gaming are growing at an impressive pace.
Alphabet, which has an average annual growth rate of 43% over the past 3 years, could follow soon after. Google’s flagship ad business continues to drive massive revenue, allowing the company to pour billions into its AI initiatives.
Alphabet shares have also received a boost after Berkshire Hathaway revealed its $4.9 billion stake in the company.
If you enjoyed today’s post, check out The World’s Largest Companies by Revenue on Voronoi, the new app from Visual Capitalist.
