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Leaders need to develop a safety net that will help displaced workers find good jobs, says senior economics contributor Chris Farrell.
We asked economists which songs embodied the American labor market in 2024.
“Secular” sectors like health care and education, which are less economically sensitive, have been responsible for a lot of hiring.
While layoffs have been low over the last few months, the uptick signals that the labor market may be starting to lose momentum.
It looks at the concentration of job growth. When it’s above 50, more industries added jobs than shed them that month.
The market is coming down from a hiring boom that wasn’t exactly sustainable.
Despite high prices, “wages are growing faster than inflation,” and families’ purchasing power is growing, he says.
Many expect that the Fed will cut interest rates to stimulate the job market — but not everyone thinks that’s a good idea.
Economists say the supply of jobs and workers is coming into better balance than during the labor shortages of the pandemic.
Even with a comparatively low unemployment rate, layoffs are rising. A new survey lays out some of the sacrifices workers are willing to make to avoid that fate.
