Golden Finance reported that the moderate increase in the number of people requesting unemployment benefits in the United States last week, indicating that the foundation of the labor market remains solid. Elon Musk's government efficiency ministry has fired thousands of federal employees in recent days. These unemployment benefits applications for those fired were filed separately under the Federal Employee Unemployment Compensation (UCFE) program, with data reporting lagging for one week. The White House hopes to cut about 2.3 million federal government staff, excluding the military and the post office. Unemployment remains at an all-time low, but that may change as workers relying on federal government contracts or funds lose their jobs. The federal government layoffs, recruitment freezes and spending cuts are expected to have a ripple effect on the local economy, especially in Washington, D.C. and adjacent Virginia and Maryland, and trigger private sector layoffs.