United

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<p class="has-drop-cap">In February 2025, the United States witnessed a <a href="https://tradingeconomics.com/united-states/challenger-job-cuts" target="_blank" aria-label="significant surge in job cuts (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">significant surge in job cuts</a>, primarily driven by federal government reductions under the Trump administration. The <a href="https://doge.gov/" target="_blank" aria-label="Department of Government Efficiency (DOGE) (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">Department of Government Efficiency (DOGE)</a> spearheaded these actions, leading to a staggering 62,242 layoffs across 17 federal agencies. This wave of workforce reductions marked the highest February total since 2009, with the overall number of job cuts reaching 172,017. The retail and technology sectors were notably affected, reflecting broader economic challenges.</p>
<h3 id="doge-actions-lead-to-significant-surge-in-us-job-cuts">DOGE Actions Lead to Significant Surge in US Job Cuts</h3>
<p>The actions taken by DOGE have not only affected government agencies but have also had downstream impacts on private nonprofits and the broader economy. The substantial number of federal job cuts contributed to a recession-level spike in layoffs, raising concerns among economists and policymakers. <br><br>These reductions come at a time of heightened economic uncertainty, with businesses adopting a cautious approach due to ongoing policy actions, tariffs, and government spending decisions. Economists anticipate that the full impact of these federal workforce cuts will become more apparent in future jobs reports.</p>
<p>Economic uncertainty and a decline in consumer spending have further destabilized the job market. According to a report by ADP, private-sector hiring saw a significant drop, with only <a href="https://www.cnbc.com/2025/03/05/adp-jobs-report-february-2025-.html" target="_blank" aria-label="77,000 jobs (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">77,000 jobs</a> added in February. <br><br>This decline in hiring highlights the growing concerns among businesses about the economic outlook. The reduction in consumer spending, observed in January, has compounded these challenges, creating a difficult environment for job growth. As businesses grapple with these issues, the “batten-down-the-hatches” mentality is becoming increasingly prevalent.</p>
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<h3 id="stock-market-takes-a-hit">Stock Market Takes a Hit</h3>
<p>Amid these economic challenges, the stock market has experienced notable volatility, as evidenced by the performance of <a href="https://tokenist.com/investing/spx-vs-spy/" rel="noopener noreferrer nofollow" class="deco-link">the SPX index</a>. The index closed at 5842.63 on March 5, 2025, after a period of fluctuating prices. The highest closing price recorded in the data was 6144.15 on February 19, 2025, while the lowest was 5778.15 on March 4, 2025. <br><br>This trend indicates a general decline in the index from mid-February to early March, reflecting investor concerns over the economic landscape and the impact of federal workforce reductions.</p>
<p>As the economy navigates these turbulent times, the implications of widespread job cuts and economic uncertainty remain a focal point for analysts and policymakers. The upcoming BLS jobs reports are expected to shed more light on the long-term effects of the federal workforce reductions and the overall health of the job market.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em> <em>All stock prices were quoted at the time of writing.</em></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/us-plans-for-172k-job-cuts-amid-economic-uncertainty-doge-actions/">US Plans for 172k Job Cuts Amid Economic Uncertainty, DOGE Actions</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

US Plans for 172k Job Cuts Amid Economic Uncertainty, DOGE Actions

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