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The services sector has expanded in 47 of the last 50 months, according to the Institute for Supply Management. Several business owners in the sector report renewed strength this year.
Jobseekers find it easier to write resumes to multiple employers with AI, but those hiring have more applications to sort through.
The decline helped bring the annual rate of inflation at the wholesale level down to 2.2%.
Competition for medical workers can be fierce, requiring incentives like housing assistance or student loan repayments to recruit new hires.
The regional economy isn’t in bad shape, but many folks say it’s hard to get by.
The public sector is still recovering from pandemic turbulence. Due to upcoming retirements, it may stay active in the labor market for years.
Conditions in the labor market increasingly look like they did before the pandemic.
The uptick seems to reinforce a number of recent signals showing moderation in the labor market.
Initial jobless claims hit a 10-month high last week. If that takes pressure off prices, the Federal Reserve might reduce interest rates.
The data suggest the job market could be returning to more normal times after an exceptional period of hiring new employees.