Morning Business Report: July layoffs fall to two-year low as Strait of Hormuz deal hits snagU.S. layoffs fell to their lowest level in two years in July despite concerns about artificial intelligence and economic uncertainty surrounding the war with Iran. (LILAMAX)-U.S. layoffs fell to their lowest level in two years in July despite concerns about artificial intelligence and economic uncertainty surrounding the war with Iran. The latest labor numbers come as concerns continue about the impact artificial intelligence could have on employment. Meanwhile, a proposed plan involving shipping through the Strait of Hormuz has hit a snag. Under Iran’s proposal, U.S. and Israeli ships would be barred from the Strait of Hormuz.