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Job Market Meltdown: 2009 Flashback as Layoffs Soar to Unprecedented February High

Layoffs have spiked, surpassing 2009 levels, driven by tech sector cuts. Finance and other industries have also witnessed substantial job losses. Despite the layoffs, unemployment rates remain low due to a favorable job market, with many workers finding new employment quickly. The trend is expected to persist as companies focus on cost reduction and technology adoption, altering staffing requirements.