US announced job cuts surge 245% in February on federal government layoffs

WASHINGTON, March 6 (Reuters) - Layoffs announced by U.S.-employers jumped to levels not seen since the last two recessions amid mass federal government job cuts, canceled contracts and fears of trade wars, offering the clearest sign yet of the toll taken on the labor market by the policies of President Donald Trump's administration.

Global outplacement firm Challenger, Gray & Christmas said on Thursday that planned job cuts vaulted 245% to 172,017 last month, the highest level since July 2020, when the economy was in the grips of the COVID-19 pandemic. It was the highest February total since the Great Recession 16 years ago. Government accounted for the bulk of layoffs, with Challenger tracking 62,242 announced job cuts by the federal government from 17 different agencies.

 The government has laid off about 62,530 workers in the first two months of the year, a whopping 41,311% increase compared to the same period in 2024. "When mass layoffs occur, it often leaves remaining staff feeling uneasy and uncertain," said Andrew Challenger, senior vice president at Challenger, Gray & Christmas. "The likelihood that many more workers leave voluntarily is high." (Ed' note: the truth is, only the Fed Gov't has been hiring, to make a bigger Gov't.)   (Read More)