Tag
One reason for all the part-time work is the instability in the broader economy, one expert says.
Outside of chronically short-staffed sectors, many firms are finding qualified workers easily. Openings are scarce in some white-collar fields.
Private-sector hiring slowed down in February and small businesses cut jobs. Plus, new unemployment claims were up last week.
Unemployment was at 4.0% in January 2025. Since WWII, it’s never gone lower than 2.5% — which it reached for two months, in 1953.
China’s job hunters say there are fewer decent jobs and more applicants, whether they’re seeking manual work or office positions.
The low hiring rate reveals weakness despite low unemployment, says Kathryn Anne Edwards. Per the JOLTS report, openings declined in December.
More drivers are joining ride-booking apps at a time when there is less demand for their services.
The Federal Reserve has wanted cooling inflation coupled with steady employment. It’s gotten that.
The ranks of the long-term unemployed have swelled to 1.7 million. The psychological effects add to the economic pain.
That statistic has risen to almost a three-year high. But if the labor market continues to add jobs at current rates, losers may become winners.
