Recent reports indicate that tens of thousands of U.S. government workers have been let go under President Trump's initiative to downsize the federal workforce. This significant reduction, overseen by Elon Musk's Department of Government Efficiency, has involved not only direct government employees but also contractors, potentially affecting nearly 1 million jobs overall. Despite these layoffs, the share of federal workers in total U.S. employment is at a historic low, prompting economists to closely monitor future employment data for broader implications on the job market.
Tens of thousands of U.S. government workers have been laid off as part of President Trump's plan to reduce the federal workforce, in a move closely monitored by economists.
Federal government hiring, historically a steady contributor to overall U.S. employment growth, is under scrutiny as job cuts could impact broader employment statistics.
Despite recent layoffs, the share of federal workers in total U.S. employment remains near a historic low of 1.4%, significantly down from over 4% in the 1950s.
Economist estimates suggest that significant layoffs could potentially lead to reduced total employment of nearly 1 million when including contractors, marking a pivotal shift in job dynamics.
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