It's been a while since the last weekly update. In the meantime, many serious events happened one after another. Many federal workers' jobs disappeared almost overnight. Today, let's address the federal employee layoff, a situation that placed many people around us into financial hardship and instability. In addition to a breakdown about the problem we are facing right now, I will offer some possible ways to facilitate your side of the situation and make your life easier in this harsh period of time. Hopefully we will all make it out alive in the end. Stay tuned!
In the economy, the government has always been the largest employer. However, things shifted. Recently, more than 200,000 federal employees were laid off from more than a dozen agencies such as the National Institute of health (NIL), Internal Revenue Service (IRS), Food and Drug Administration (FDA) and Department of Education (Jessen). As a result, the productivity and the funding of the federal institutes will face a significant decrease. Unfortunately, the federal layoff also affected multiple companies. Due to the lack of money from the fed to spare to support individual companies' funding, some large companies also faced financial challenges. With the ripple effect, tech and research institutes, which rely on large federal funding, had to lay off its employees. This series of layoffs could shake the entire economy for a period of time now that the state funding could be disrupted, and the productivity in this economy sharply reduced.
If you are one of the individuals stuck in this unfortunate situation, I'm deeply sorry for you because right now, the job market only became increasingly competitive as AI replaced many jobs. And unfortunately, your insurance does not cover up the amount of money you typically will make. Of course, some workers signed up for early retirement to walk away from the drama. These days, workers who have a job clung to their job more than ever.
Despite this difficult situation for you, don't lose hope yet. In an economy like this, we still need a lot of labor and resources before it reaches full productivity capacity. Maybe instead of getting employed like the conventional route many took, you can always seek your own opportunity to start your business by selling your skill or physical products on Etsy to contribute to this economy in your own way. To boost your chance of getting employed again, you can always continue your education by taking courses on Coursera to keep yourself updated with society or make network connections on LinkedIn. Not every method mentioned will work, but I have faith that you will find your way around.
After all, what happened happened, but there is always something we can take away from here. In order to prepare for such a situation in case it happens again, we want to make sure we have six months of emergency funds, savings, insurance, and retirement account. What happened in our economy took a toll on all of us, but we will make it through in the end. Thank you so much for reading this article! Make sure to follow this blog and share it with your friends if you find this helpful!
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Possible topics for the next few weeks: how did the Great Depression happen? Is modern art overrated? More on human capital resources? Book review: Kids These Days by Malcolm Harris...
Work Cited
https://www.forbes.com/sites/jackkelly/2025/03/04/despite-a-difficult-job-market-and-chaos-here-are-some-bright-spots-to-stay-hopeful/
https://www.wsj.com/economy/jobs/what-do-mass-federal-layoffs-mean-for-the-labor-market-33515410
https://sustainabilitymag.com/articles/will-us-federal-layoffs-affect-sustainability
AI has been crazy recently
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