A 'We Are Hiring' sign is seen in front of a restaurant in Los Angeles, California in August 2022The number of"Help Wanted" signs may have decreased across the United States in August, but the job situation still remains tense, official figures are expected to show Friday.
Data for private sector jobs created in August already disappointed: American employers ratcheted back their hiring in the month to 132,000, according to data published Wednesday by payroll firm ADP, a far cry from the 315,000 jobs that had been expected. In July, the labor market demonstrated particular dynamism when it returned to its pre-pandemic level.
US GDP contracted in the first two quarters of 2022, which falls under the classic definition of a recession.
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