Reported about 9 hours ago
Recent labor market data indicates that job cuts attributed to Elon Musk's Department of Government Efficiency (DOGE) are leading to a significant rise in layoffs, with February's cut numbers reaching their highest since July 2020, according to Challenger, Gray & Christmas. Factors like canceled government contracts and economic fears have contributed to a challenging hiring environment, keeping unemployment claims elevated. Economists predict varied impacts on the national unemployment rate depending on the extent of job cuts, though immediate effects are not expected in the upcoming jobs report.
Source: YAHOO