logo
D.C.-area job losses happening faster than during covid, data suggests

D.C.-area job losses happening faster than during covid, data suggests

Washington Post04-04-2025

Job losses in the D.C. area appear to be steeper than at the same point in 2020, when the coronavirus pandemic was ravaging the economy, a Washington Post analysis of available layoff data shows, though the full impacts of the Trump administration's federal spending cuts are still not known.
The data comes from notices filed by employers under the Worker Adjustment and Retraining Notification (WARN) Act of 1988, which requires large employers to issue these notices before mass layoffs or plant closures. The WARN data offers only a partial view of the region's labor market, as it typically applies just to private-sector employers, though this dataset also includes more than 2,000 job cuts made by the U.S. Department of Health and Human Services in Maryland.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Granholm: Democrats would ‘welcome' Musk ‘helping us out'
Granholm: Democrats would ‘welcome' Musk ‘helping us out'

The Hill

time30 minutes ago

  • The Hill

Granholm: Democrats would ‘welcome' Musk ‘helping us out'

Former Energy Secretary Jennifer Granholm said Tuesday that Democrats would 'welcome' tech billionaire Elon Musk 'helping us out' after an intense clash between Musk and President Trump last week. 'I think the Democrats would welcome him helping us out, politically, but — financially, etc.,' Granholm said at Politico's 2025 Energy Summit. 'But, maybe, maybe not, I don't know. I'm not running.' Last Thursday, a fight between Musk and Trump over the president's 'big, beautiful bill' earlier in the week escalated rapidly on Musk's X platform and Trump's Truth Social platform. The president said the tech billionaire 'just went CRAZY!' and threatened Musk's government contracts. Musk alleged that Trump had ties to convicted sex offender and financier Jeffrey Epstein on X. The public spat followed the end of Musk's recent service in the Trump administration and an alliance with the president that appeared to start off strong. Musk endorsed Trump in July 2024 in the wake of Trump surviving an assassination attempt in Pennsylvania. Musk's administration service was marked by intense backlash from those on the left and Democrats over actions taken by Musk's Department of Government Efficiency (DOGE) on the federal government. Trump's ex-personal attorney Michael Cohen on Saturday said that Trump isn't done with tech billionaire Elon Musk yet. 'They're going to really go after Elon Musk like nobody has seen, ever, in this country, because they can,' Cohen told MSNBC's Ali Velshi.

What volatility trends mean for stock returns: Chart of the Day
What volatility trends mean for stock returns: Chart of the Day

Yahoo

time30 minutes ago

  • Yahoo

What volatility trends mean for stock returns: Chart of the Day

The CBOE Volatility Index (^VIX) spiked when President Trump's reciprocal tariffs were announced but has since dropped significantly. Yahoo Finance host Julie Hyman joins Asking for a Trend in today's Chart of the Day to take a closer look at recent volatility trends and explain what these drops in volatility could imply for long-term stock returns. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. It's avoiding the worst case scenario in trade wars that has sent volatility back down here after the spike that we saw after the reciprocal tariffs were first announced, and markets, for lack of better term, freaked out, because it was unexpected the numbers that we saw. So, here you have, over the past two months, what we have seen in terms of the drop in volatility, it's about, from peak to trough, again over the two month period, about a 35 point drop. That's the third largest that we've seen on record, dwarfed only by what we saw in May of 2020, and then going back to December of 2008. All of this according to Bespoke Investment Group. So, why should we care, you might ask? And that's because of what we see that what happens after these big drops in volatility. What Bespoke says is that seeing a drop like this would normally imply that we would have seen an even bigger recovery in stocks since then, perhaps approaching as much as 50% instead of the 20% or so we've that we have seen climb from the low. So, what now? Bespoke says, doesn't mean a lot for short-term stock returns, but they say again, if you go back and look at the history of when we see patterns like this, if you go out in the 6 or 12 month periods, you do tend to see more positive returns for stocks. Like with anything else, a lot of caveats here, there are no guarantees, past performance does not guarantee future results. But Bespoke specializes in looking at these types of historical patterns to try to figure out what comes next, and their view then, and as history might indicate, 6, 12 months out from here, we could see stocks higher than they are today, Josh. Thank you, Julie. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

US stocks drift closer to their record as Wall Street waits to see what US-China talks will bear
US stocks drift closer to their record as Wall Street waits to see what US-China talks will bear

Los Angeles Times

time32 minutes ago

  • Los Angeles Times

US stocks drift closer to their record as Wall Street waits to see what US-China talks will bear

NEW YORK — U.S. stocks drifted closer to their all-time high on Tuesday as the wait continued to hear what will come of trade talks between the United States and China. The S&P 500 rose 0.5% as talks between the world's two largest economies carried into a second day. The Dow Jones Industrial Average added 105 points, or 0.2%, and the Nasdaq composite gained 0.6%. Stocks have roared higher since dropping roughly 20% below their record two months ago, when President Donald Trump shocked financial markets with his announcement of tariffs that were so stiff that they raised worries about a possible recession. Much of the rally has been due to hopes that Trump would lower his tariffs after reaching trade deals with countries around the world, and the S&P 500 is back within 1.7% of its record set in February. It's getting to be time to see whether such hopes were warranted. The talks with China were going 'really, really well,' U.S. Secretary of Commerce Howard Lutnick said Tuesday evening in London, where the talks were being held. The two sides worked on 'all sorts of trade issues,' he said, according to a video clip posted by the Chinese state broadcaster CGTN. Both the United States and China have put many of their tariffs announced against each other on pause as talks continue. Even though many tariffs are on hold for the moment, they're still affecting companies and their ability to make profits because of all the uncertainty they've created. Designer Brands, the company behind the DSW shoe store chain, became the latest U.S. company to yank its financial forecasts for 2025 because of 'uncertainty stemming primarily from global trade policies.' The company, which also owns the Keds, Jessica Simpson and other shoe brands, reported a larger loss for the start of the year than analysts were expecting, and its revenue also fell short of forecasts. CEO Doug Howe pointed to 'persistent instability and pressure on consumer discretionary' spending, and the company's stock tumbled 18.2%. The uncertainty is moving in both directions, to be sure. A survey released Tuesday of optimism among small U.S. businesses improved a bit in May. 'While the economy will continue to stumble along until the major sources of uncertainty are resolved, owners reported more positive expectations on business conditions and sales growth,' according to Bill Dunkelberg, chief economist at the National Federation of Independent Business. On Wall Street, J.M. Smucker fell 15.6% even though its results for the latest quarter topped analysts' expectations. Its revenue fell short of expectations, as did its forecast for profit in the upcoming year. Tesla helped to make up for such losses after rising 5.7%. The electric vehicle company has been recovering since tumbling last week as Elon Musk's relationship with Trump imploded. That raised fear about possible retaliation by the U.S. government against Tesla. Shares that trade in the United States of chipmaking giant Taiwan Semiconductor Manufacturing Co. rose 2.6% after the company known as TSMC said its revenue in May jumped nearly 40% from the year earlier. Casey's General Stores leaped 11.6% after the chain of convenience stores based in Ankeny, Iowa, reported a stronger profit for the latest quarter than analysts expected. It credited strength in sales of hot sandwiches and other items. All told, the S&P 500 rose 32.93 points to 6,038.81. The Dow Jones Industrial Average added 105.11 to 42,866.87, and the Nasdaq composite climbed 123.75 to 19,714.99. In stock markets abroad, indexes were mixed amid mostly modest movements across Europe and Asia. A 0.8% drop for Germany's DAX and a 0.6% gain for South Korea's Kospi were two of the bigger moves. In the bond market, the yield on the 10-year Treasury eased to 4.47% from 4.49% late Monday. Choe writes for the Associated Press.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store