US Job Cuts Surge 245% in February Due to Federal Government Layoffs
Layoffs announced by US-employers jumped to levels not seen since the last two recessions amid mass federal government job cuts, canceled contracts, and fears of trade wars. The Department of Government Efficiency (DOGE) is wielding the axe on public spending, an exercise that has resulted in funding freezes, deep spending cuts, and the purging of thousands of federal government workers. The resulting job losses are having a ripple effect across the economy.
- The surge in US job cuts during February highlights the unintended consequences of President Trump's administration's policies, which may be disproportionately affecting low-skilled and vulnerable workers.
- How will the long-term effects of these layoffs impact the social safety net and the ability of the federal government to address issues such as poverty and inequality?