Part 5/11:
Nonprofits and Government Sector
Nonprofits have faced an unprecedented 413% increase in layoffs, with approximately 18,000 jobs eliminated this year. Funding cuts from federal agencies, notably due to reduced government spending like the controversial Doge initiative, have significantly impacted the nonprofit sector.
Similarly, government layoffs have approached 290,000, marking them as a critical component of the overall job reductions. The reduction in government payrolls appears to coincide with efforts to cut waste and streamline operations, especially with the advent of large-scale budget cuts.