Job Cuts and Rising Unemployment: What You Need to Know

Why Unemployment Might Rise Soon

The latest job report from the Bureau of Labor Statistics (BLS) shows a stable unemployment rate, but changes are coming. Government job cuts are expected to increase, which could push unemployment higher in the coming months. When government jobs disappear, it often affects other industries too, leading to fewer job opportunities overall.

HPE and Corporate Layoffs

Big companies are also making job cuts. Hewlett Packard Enterprise (HPE) recently shared its 2025 financial plans, which include reducing costs and laying off employees. These layoffs are part of a larger trend where businesses try to save money, but it also means more workers are left without jobs. Read more about HPE’s outlook here.

Tariffs and Higher Prices for Shoppers

Consumers are also feeling the impact of new trade policies. As we explained in Target and Tariffs: What the Latest Policies Mean for Shoppers and Retailers, tariffs (extra taxes on imported goods) are making products more expensive. Unfortunately, this won’t help workers who are already struggling with layoffs and higher living costs.

What’s Next? Inflation Report on March 12

The next key update will come with the February 2025 Consumer Price Index (CPI) report, which will be released on March 12, 2025, at 8:30 A.M. Eastern Time. This report will show whether prices are still rising and how inflation is affecting the economy. We’ll keep you updated on what it means for jobs and everyday expenses.