Reported about 10 hours ago
The US labor market has entered a 'low-hire, low-fire' phase, with job openings at their lowest since January 2021 and the ratio of open jobs to unemployed individuals at just over one. Despite a decrease in initial unemployment claims, the number of continuing claims has increased, indicating ongoing challenges in the labor market. Key employment growth is concentrated in healthcare, education, leisure, hospitality, and government sectors, while overall job growth has slowed significantly. Despite rising unemployment rates, layoffs remain low, maintaining consumer confidence amid economic resilience.
Source: YAHOO