July 10, 2025
The US Supreme Court on Tuesday allowed President Donald Trump to proceed with widespread cuts to the federal workforce, pending a full trial, overruling a San Francisco judge’s order in May that temporarily blocked layoffs at 22 agencies. Prior to the Supreme Court’s ruling, thousands of government employees had been preparing for mass layoffs, with many notified of their pending terminations but awaiting official confirmation.
Here’s a look at the changing size of the federal workforce, which includes the US military, since Trump first took power in 2017.
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In this Quick Take, Ian Bremmer reacts to President Trump’s State of the Union address, calling it “a rehashing of the greatest hits” with little new policy direction.
Small business hiring surged 7% above the 2024 average in December, led by a surprise rally in retail. But with uncertainty still historically high and mounting concerns over tariffs, can this momentum survive 2026? Explore the data behind the resilience of the US small business sector. Get the latest economic insights from Bank of America Institute.
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