Economy shows 'signs of cracks' amid wave of cuts, changes [View all]
The Trump administration’s efforts to cut thousands of federal workers and a roller coaster of tariff policy changes are beginning to have ripple effects on the national job market.
American employers announced 172,017 job cuts in February — the highest total for any February since 2009, when the Great Recession was in full swing. The cuts represent a 245% increase from the 49,795 cuts announced in January and more than double the 84,638 cuts in February 2024, according to data from global outplacement and executive-coaching firm Challenger, Gray & Christmas.
That brings job cuts so far this year to 221,812, the highest year-to-date total since 2009 and up 33% from the same point in time in 2024.
“Private companies announced plans to shed thousands of jobs last month, particularly in retail and technology," said Andrew Challenger, senior vice president and workplace expert at Challenger, Gray & Christmas. "With the impact of the Department of Government Efficiency [DOGE] actions, as well as canceled government contracts, fear of trade wars and bankruptcies, job cuts soared in February."
https://www.bizjournals.com/seattle/news/2025/03/07/doge-cuts-tariff-woes-job-market-2025-unemployment.html
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