PAYX

US job openings rose to 7.523 million in September and layoffs fell to their lowest since March 2025. Automatic Data Processing and Paychex are paid per worker, so steady headcount supports their fees. Both also earn interest on client payroll money they hold before payday, which benefits from higher rates.

Cloudflare cut 20% of staff while hitting record revenue, proving AI can structurally reduce headcount without hurting growth. This is a hard catalyst signaling enterprise AI adoption has crossed the tipping point. Long AI-native workflow automation and HR-tech platforms that help firms execute and manage this transition.