Financial and Economic Updates by Marc Nonnenkamp
The most recent monthly update is on top, followed by archives going back to the first monthly update in December of 2011. Please join 749,146 visitors from 196 countries (speaking 154 languages) including 50 US States and visit our new website at www.financialecononomicupdate.com. Financial, Economic and Social Mood Update (May 1, 2025) The estimate for federal government layoffs from January 20 to February 28, 2025 = 331,780, for March 2025 = 280,000, for April 2025 and then US Army active duty reduction in force (RIF) = 90,000 = 701,780 job cuts thus far. The pace of these cuts has slowed markedly during the month of April as they represent 27 percent of the full-time equivalent federal staff as of January 19, 2025. Certain agencies with very intensive “retail customer” contact such as the US Post Office and the Social Security Administration should not be cut at all as they are so critical to so many people. About 75 percent of the federal budget is classified as “non-discretionary.” Such items include interest on the federal debt,…