What's the status of America's labor market this Labor Day and why does it matter?

📆 6/9/2022 4:01 AM
📰 10News

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What's the status of America's labor market this Labor Day and why does it matter? The job market is being watched closely for signs of a recession.

That's what President Biden is doing at events in Wisconsin and Pennsylvania.

In fact, some economists say the biggest issue with our economy is that business owners are having trouble finding employees.It's why some businesses can't stay open or offer the level of service they would like. Job openings also mean you may still have leverage on your boss when it comes to asking for a raise since finding workers to replace you could be challenging.The Federal Reserve, the independent central bank in the U.S., isn't necessarily celebrating all these job openings.Some economists believe too many job openings can lead to higher wages, making inflation worse.

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Is the U.S. stock market closed on Labor Day?The U.S. stock market is closed on Monday, Sept. 5 for Labor Day. So is the bond market, the post office and banks.
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