US Job Market Cools But Remains Resilient Amidst Economic Uncertainty

dramatically from a peak achieved during the nation's rebound from the pandemic. The unemployment rate still hovers near historic lows but has climbed markedly this year.

Economists widely acknowledge that the labor market has slowed. That trend doesn't come as a surprise after a years-long period of high interest rates, which typicallyIn 2022, the pandemic rebound triggered a blazing-hot job market that saw employers add an average of nearly 400,000 jobs per month. Over a three-month period ending in August, employers added an average of about 116,000 jobs per month.

"We expected job growth at some point to slow down," Wilson said. "To me, that alone isn't cause for concern." data showed. A relatively low number of people has claimed unemployment benefits in recent weeks, suggesting few layoffs.Some economists disagreed. They pointed to a recession indicator known as the "Sahm Rule," which says that a rise of 0.5 percentage points in the unemployment rate within a 12-month period typically precedes a recession.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US Job Market Cools but Remains StrongThe US labor market shows mixed signals, slowing from its pandemic-era boom but still demonstrating resilience. The unemployment rate has climbed but remains near historic lows. The Federal Reserve's recent interest rate cut aims to counter potential job losses.
Source: ABC7NY - 🏆 592. / 51 Read more »

US Job Market Cools Amid Mixed Signals on Economic HealthThe US job market is showing signs of cooling, with slower job growth and a rising unemployment rate. However, economists remain divided on the implications for the broader economy, with some downplaying concerns about a potential recession.
Source: ABC7NY - 🏆 592. / 51 Read more »

Bitcoin and crypto market survives supply overhang as Celsius repayment distribution coolsCelsius, a defunct crypto lending company, has repaid more than half of its creditors, according to a filing made on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Ethena's Yield Machine Sees $1B Outflows as Crypto Market CoolsKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Source: CoinDesk - 🏆 291. / 63 Read more »