22 April | Dollar

Atlanta Fed predicts 1.2 million job cuts in US federal workforce

Atlanta Fed predicts 1.2 million job cuts in US federal workforce

According to a study by the Federal Reserve Bank of Atlanta, the US federal workforce could shrink by around 1.2 million employees, with most cuts hitting contract and grant-funded positions. Melinda Pitts, a researcher at the bank, warns that such massive layoffs could hurt the American labor market.

According to layoffs.fyi, President Donald Trump’s initiative to reduce government spending has already led to 136,000 federal job cuts, with another 170,000 layoffs expected soon.

While the Atlanta Fed's pessimistic forecast predicts as many as 1.2 million potential job losses, Bloomberg Economics estimates that only around 535,000 jobs could be cut by year-end. However, as the agency’s experts point out, the full scope of layoffs won’t be reflected in employment data right away, as it will take some time for the numbers to be processed.

Period: 13.05.2025 Expectation: 500 pips
GBPUSD is about to pull back from 1.32000 to 1.31500
Yesterday at 11:17 AM 26
Period: 19.05.2025 Expectation: 1000 pips
AUDUSD bounces off 0.635 support level toward 5-month high
Yesterday at 09:38 AM 29
Period: 22.05.2025 Expectation: 89500 pips
BTCUSD correction wave forms sell signal targeting 93,700
Yesterday at 08:47 AM 42
Period: 20.05.2025 Expectation: 4065 pips
Optimism for Tesla is limited by weak sales and competition
Yesterday at 05:07 AM 23
Period: 16.05.2025 Expectation: 700 pips
Silver prices started to rebound toward 33.6
12 May 2025 51
Period: 13.05.2025 Expectation: 900 pips
USDJPY seen retreating to 145.00
12 May 2025 26
Go to forecasts