In February 2025, the United States experienced a significant surge in job cuts, with 172,017 positions eliminated—a 103% increase compared to the same month in the previous year and a 245% rise from January 2025. This marks the highest monthly total since July 2020. Year-to-date, the total number of job cuts stands at 221,812, the highest since 2009.

A notable contributor to this trend is the Department of Government Efficiency (DOGE), led by Elon Musk. In 2025, DOGE has implemented 62,530 job cuts, representing a staggering 41,311% increase compared to 2024. Washington, D.C., has been particularly affected, with layoffs soaring from 60 in 2024 to 61,795 in 2025. 

These extensive layoffs have had a profound impact on the Washington, D.C., housing market. The median home price has decreased to $552,500, a level not seen since January 2020, when it was $550,000. The market now has nearly 10,000 homes for sale, with approximately 50% listed since January 1st. Since November 2024, nearly 5,000 homes have been listed, exceeding the average for the area. 

The surge in layoffs has also led to an increase in unemployment claims. In the last week of February, new claims across the U.S. rose by 22,000, reaching a total of 242,000. 

With echoes of the pandemic-era economic turmoil, these developments are reshaping the job and housing markets across the country. Will the trend continue, or is a recovery on the horizon? Stay tuned as we track the latest updates.

Disclaimer: The information provided in this article is based on available data as of March 6, 2025. Economic conditions and housing markets are subject to rapid changes. Readers are advised to consult multiple sources and seek professional advice before making financial or real estate decisions.