Among the biggest challenges small firms are facing is hiring.

The low hiring rate reveals weakness despite low unemployment, says Kathryn Anne Edwards. Per the JOLTS report, openings declined in December.

The data is in line with pre-COVID claims volume, and the job market often sags in January.

Companies reported on their quest to fill jobs in the Fed’s Beige Book. The arrival of AI may have changed hiring needs.

In December, respondent confidence in getting hired fell to the lowest level it’s been since 2021.

That’s 3% fewer than a year ago. If it keeps dropping, it could be a sign the labor market is getting warmer.

People are “getting really personal” and leveraging their social media networks, says Danielle Abril of The Washington Post.

The ranks of the long-term unemployed have swelled to 1.7 million. The psychological effects add to the economic pain.

While layoffs have been low over the last few months, the uptick signals that the labor market may be starting to lose momentum.

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.