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172.017K job cuts in February 2025, the highest value since July 2020 [1]
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Date: 2025-03-06
US employers announced 172.017K job cuts in February 2025, the highest value since July 2020, compared to 49.795K in January. It is also the highest total for the month of February since 2009. "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,“ said Andrew Challenger, Senior VP and workplace expert for Challenger, Gray & Christmas. Andrew Challenger. The Government led all sectors in job cuts in February. (62.242K), followed by retail (38.956K) and tech (14.554K). So far this year, employers have announced 221,812 job cuts, the highest year-to-date total since 2009. source: Challenger, Gray and Christmas, Inc.
However, not showing up yet in the initial weekly unemployment claims, although the advance number for seasonally adjusted insured unemployment is rising: UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
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