Data released by the international company Challenger, Gray & Christmas on Thursday showed that over 275,000 positions were eliminated from the US job market in March, marking an all-time high for cuts during that month.
Significantly, the layoffs occurred prior to President Donald Trump announcing his significant tariffs on imported products this week, which caused stock market futures to decline sharply on Thursday morning.
Furthermore, most of the job reductions were due to billionaire Elon Musk cutting down the federal staff as part of the Department of Government Efficiency initiative.
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The unprecedented layoffs coupled with highest-ever import duties caused the President's detractors to criticize him for mishandling the U.S. economy.
ALSO READ: "The patient survived!" Trump hails tariffs using 'procedure' analogy amid market downturns
In March, we witnessed the third-largest layoff surge in U.S. history, with 80% attributed to factors related to DOGE prior to the imposition of tariffs. It’s simply incredible, Philadelphia Inquirer columnist Will Bunched was impressed on BlueSky.
'The most foolish economic strategy the globe has witnessed,' they say, noted Media Matters' Andrew Lawrence A functional nation would dismiss officials from their positions for displaying such profound stupidity and an astounding lack of understanding regarding economic operations.
They're stealing your employment and robbing your pockets, composed Professor Anthony Michael Kreis .
Don Moynihan, a political science professor from the University of Michigan, suggested that the extensive economic damage advocated by Trump seemed to be completely thoroughgoing.
Essentially, Trump is activating every 'do not touch' button at once: large-scale job cuts, rising costs, eroding both consumer and global trust. he wrote Not quite certain about his actions leading towards an economic downturn, not to mention a prolonged decrease for the United States.
The New York Times columnist Jamelle Bouie put the situation into clear perspective briefly. and simply wrote , "Trump take job."
trump take job
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— jamelle ( @jamellebouie.net ) On April 3rd, 2025, around 7:50 A.M.,
Essentially, Trump is activating every "do not touch" button at once: massive job cuts, rising costs, eroding both domestic and global trust. I'm unsure what more he could do to instigate an economic downturn, let alone a prolonged decline for the U.S.
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— Don Moynihan ( @donmoyn.bsky.social ) On April 3rd, 2025, at 8:37 A.M.,
They're stealing your employment and robbing you blind.
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— Anthony Michael Kreis @anthonymkreis.bsky.social ) On April 3rd, 2025, at 7:51 AM
They're referring to it as "the most foolish economic policy the globe has ever witnessed."
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— Andrew Lawrence ( @ndrew.bsky.social ) On April 3rd, 2025, at 7:58 AM.
In March, the United States experienced the third-largest number of job cuts on record, with 80% attributed to DOGE factors. These statistics were noted prior to the implementation of new tariffs. It remains truly astonishing.
— Will Bunch ( @willbunch.bsky.social ) On April 3rd, 2025, at 7:43 A.M.,
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