Employers are coming up with a whole new class of catchphrases to promote their flexible-work options, highlighting the challenge of establishing norms in an ever-shifting modern workplace.In addition to reporting August job growth, the Labor Department on Friday revised down the gains for June and July by a combined 110,000. A decelerating job market could help shift the economy into a slower gear and reassure the Fed that inflation will continue to decelerate.
The Fed wants to see hiring slow because intense demand for labor tends to inflate wages and feed inflation. The central bank hopes to achieve a rare “soft landing,” in which its rate hikes would manage to slow hiring, borrowing and spending enough to curb high inflation without causing a deep recession.
Optimism about a soft landing has been growing. The economy, though growing more slowly than it did in the boom that followed the pandemic recession of 2020, has defied the squeeze of increasingly high borrowing costs. The gross domestic product — the economy’s total output of goods and services — rose at a respectableThe Fed wants to see hiring decelerate because strong demand for workers tends to inflate wages and feed inflation.
So far, the job market has been cooling in the least painful way possible — with few layoffs. The Labor Department reported Thursday that the number of Americans
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US companies added 187,000 jobs in August as unemployment rises to 3.8%The federal government said that the unemployment rate rose to 3.8%.
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