In February, the United States saw a dramatic rise in layoffs, with 172,017 job cuts announced, marking the highest monthly total since July 2020 and a 245% increase from January, largely due to reductions in the federal workforce. The Department of Government Efficiency (DOGE), led by Elon Musk, played a significant role in these layoffs by targeting government waste and fraud, resulting in widespread job losses across federal agencies. This surge in layoffs is reminiscent of the early COVID-19 pandemic period and highlights the current challenges facing the U.S. labor market.
