The labor market feels unusually quiet right now. People aren’t losing jobs or quitting like before, but those looking for work aren’t getting many offers either.
Recently, mass layoffs in the federal government have started, with some employees choosing to leave on their own. This could shake up the current balance in the job market.
Unemployment stands at 4.1%, which is relatively low. Still, workers losing their jobs might find it tough to find new ones. It all depends on how well their skills match up with the private sector. Unfortunately, that sector doesn’t seem eager to hire at the moment.
Cory Stahle, an economist at Indeed, said, “Federal workers everywhere are starting to search for new jobs. This will certainly test the labor market soon.”
Before the Trump administration, there were about 2.3 million civilian employees in the federal government. It’s uncertain how many jobs will be cut or how many people might return if legal challenges over terminations arise.
As the government cuts spending and the White House has directed agencies to reduce their budgets even further, the effects could be significant on the job market.
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Source linkGovernment Employees,Layoffs and Job Reductions,United States Politics and Government,Government Efficiency Department (US),Labor and Jobs,Hiring and Promotion,Veterans,Legal Profession,Government Contracts and Procurement
