The US saw 275,240 job cuts in March, up 60% MoM and 205% YoY, which is the third-highest monthly total ever recorded.

• The Government led all sectors in job cuts in March with 216,215. So far this year, the Government has cut 279,445, an increase of 672% from the 36,195 cuts announced in the Q1 2024.
• Over the last two months, DOGE actions have been attributed to 280,253 layoff plans of federal workers and contractors impacting 27 agencies.
• So far this year, employers have announced 497,052, the highest year-to-date and quarterly total since Q1 2009.
• So far this year, companies plan to hire 53,867 workers, a 16% decrease from the 64,163 new hires announced in the first quarter of 2024. It is the lowest Q1 hiring total since 2012 when 52,540 new hiring plans were announced.