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Worried young adult woman working remotely, nervously waiting to find out feedback about her ... More important job interview.
President Trump’s tariffs imposed on Canada, Mexico, China, and a large number of other countries have people on edge. Elon Musk and the Department of Government Efficiency (DOGE) actions have contributed to 280,253 layoff plans of federal workers and contractors impacting about 27 agencies, according to workplace expert Challenger, Gray & Christmas.
The extensive layoffs directed by DOGE should make you cognizant of your own career safety. The terminations, many without explanations, have taken a toll on workers' mental health, according to US News reporting.
A nerve wracking plunging stock market, impacting 401k and retirement plans, can contribute to destabilizing the US job market. CNBC reported that the Dow Jones Industrial Average plunged 2,231.07 points, or 5.5%, on Friday, the largest drop since June 2020 during the Covid. The S&P 500 plunged by 5.97%, the biggest decline since March 2020. These events, along with other matters, potentially threaten hiring and employment stability.
Businesses thrive on predictability. Right now, that’s in short supply. Instead of expanding their workforce, it’s reasonable to see that many companies will choose to wait until the dust settles, opting to see how things play out before making any hiring decisions.
However, there are bright spots. NPR pointed out that U.S. employers added 228,000 jobs in March, roughly twice the number added the previous month, when revised figures show employers added 111,000 jobs. The unemployment rate ticked up to 4.2% from 4.1% in February, as 232,000 people joined or rejoined the workforce.
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