US announced job cuts surge 245% in February on federal government layoffs
- In February, U.S. employers announced plans to cut 172,017 jobs, a 245% increase from the previous month, marking the highest February total since 2009, according to Challenger, Gray & Christmas's report.
- The largest share of job cuts occurred in the government sector, with 62,242 layoffs across 17 federal agencies, marking a significant rise from previous months.
- Andrew Challenger noted that economic uncertainty and government cuts heavily contributed to the sharp rise in job layoffs.
- Federal job cuts are expected to be more visible in March and April's jobs reports, according to economists.
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Latest Jobs Report Counters Trump’s Claim That He’s Ushering in a “Golden Age,” Says Groundwork’s Jacquez
Today, the Bureau of Labor Statistics released the February jobs report, which showed that the U.S. economy added 151,000 new jobs, and the unemployment rate ticked up to 4.1% – falling short of market expectations. Groundwork Collaborative Chief of Policy and Advocacy Alex Jacquez reacted with the following statement:“Just one month on the job, warning signs are flashing across the Trump economy. Inflation is rising, consumer confidence is plum…
Morning Business Report: Layoffs spike in February - 41NBC News
(LILAMAX)- Layoffs soared by 245% in February compared to the previous month, according to data released Thursday by outplacement firm Challenger, Gray & Christmas. Of the approximately 172,000 job cuts, more than one-third—62,000 positions—were eliminated by the Department of Government Efficiency, marking a significant shift in federal employment. With today’s monthly jobs report set for release, economists expect to see the first signs of the…
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