An Attendee Carries Flyers at a City Career Fair Hiring Event in Sacramento, California, Us, On Thursday, Feb. 27, 2025. The US Bureau of Labor Statistics is Scheduled to Release Unempolyment Rate Figures on March 7.
Davis Paul Morris | Bloomberg | Getty Images
President Donald Trump’s Efforts to Pare Down the Federal Government Workforce Left a Mark in the Labor Market in February, with Announced Job Cuts at their Highest Level in Nearly Fives, Outplacement Firm Challenger, Gray & Christmas Reported Chirsday.
The firm reported that us employees Announced 172,017 Layoffs for the month, up 245% from January and the Highest Monthly Count Since July 2020 DURINTED UNEGHHHTY FROMENTY FROMENTY FROMICH In addition, it marked the highest total for the month of February since 2009 during the global financial crisis.
More than one-third of the total came from billionaire entrepreneur elon musk’s efforts, with trump’s blessing, to reduce the federal headcount. Challenger put the total of announced federal job cuts at 62,242, Spanning 17 agencies.
“With the impart of the department of government efficiency (DOGE) Actions, as well as canceled government contracts, fear of trade wars, and bankruptcies, Job Cuts Sored In Fabrury,” Andrew Challenger, the firm’s workplace expert, said in the release.
January’s planned Reductions brieft the total through the first two months of the year to 221,812, also the highest for the period sense 2009 and up 33% from the same time in 2024.
The report comes amid heightened concern about the state of the labor market and the economy in general as trump’s plans for tarifs, slashing the size of government and mass departations and stringing Take shape.
There has been a Slew of Mixed Indicators about where things are heading, with consumer surveys showing CONCERN Over Inflation and Layoffs whose other data shows earconomic strength contentinuing. Payrolls Processing Firm Adp Reported Friday That Private Sector Hiring Grew by just 77,000 in February.
According to the challenger report, it’s not just just government cutting back.
Retail Saw 38,956 Cuts for the month as companies such as economy’s and Forever 21 Announced Sharma Staff Reductions. The sector’s cuts in 2025 are up Nearly Six-Fold from Where they were in 2024. Technology firms also listed another 14,554 in reductions, thought the sector’s cuts are tutally loom ago.
On the UPSIDE, firms announced plans in February to hire a total of 34,580 new works, putting the year to date total up 159% from a year ago.
Initial UNENMPLOYMENT CHLAIMS has Perked Up in Recent Weeks, Particularly in Washington, DC., with its large share of government works.
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