
The Kobeissi Letter|Apr 05, 2025 18:13
BREAKING: US job cut announcements spiked 205% year-over-year, to 275,240 in March, the 3rd-highest monthly reading on record.
This is also up 60% from the previous month when 172,017 cuts were announced.
Moreover, this is higher than in any month during the 2008 Financial Crisis and the 2001 recession.
Year-to-date, US employers have announced 497,052 job cuts, the highest quarterly total since Q1 2009.
The US government has led all sectors with 216,215 cuts in March and 279,445 cuts year-to-date, up 672% from Q1 2024.
The DOGE effect is real.
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