This Many Federal Jobs Haven't Been Lost in a Year Since 1953

“We have excess employment in the government, and those people can be moved to the private sector.” — Scott Bessent, March 2025

Chart of the Day Good morning! A steep drop in federal employment is the biggest contributor to this year’s languid job market. Investors’ lukewarm reaction yesterday, however, suggests that it’s definitely a cause for concern but not yet alarming.  The S&P 500 edged 0.2% down, while the 10-year Treasury yield inched up to 4.165% f...

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