Economists have been closely watching monthly US job reports for signs of cracks in the labor market that could offer clues as to when a recession could start. But their predictions have been tested month after month with stronger-than-expected gains. Last month’s jobs report was no exception. Employers added a whopping 339,000 new jobs in May, crushing the 190,000 job gains economists predicted. Employers have been consistently hiring more workers each month since January 2021.
But even when restaurants, bars and entertainment spaces were allowed to reopen and people slowly started traveling again, workers didn’t jump at the opportunity to get their old jobs back. Instead, people found jobs in different industries that paid more and reduced their exposure to people, said Jim McCoy, senior vice president of talent solutions for ManpowerGroup, a leading staffing firm.
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