The U.S. job market is still healthy, but it's slowing down as recession fears mount

Businesses are holding onto their workersthis week from companies like Amazon and Salesforce. New claims for unemployment benefits remain at historically low levels.struggling for much of the last two years to find enough workersMore than 400,000 workers entered or re-entered the workforce last month, and the share of adults working or looking for work inched up by a tenth of a percent.

"Now we're coming to a point where consumer spending has shifted again," she says."Tech is responding by pulling back."Financial firms are also cutting back on hiring, in the face of rising interest rates. And factories have scaled back hiring as well. Manufacturers added just 8,000 jobs in December, a quarter of the monthly average last year.monthly survey of factory managers"The first half of 2023 is going to be sluggish," Fiore says.

The Federal Reserve would welcome some slowdown in hiring, especially if it helps to keep a lid on wage gains. The central bank is worried that rapid pay increases could add to inflation, especially in labor-intensive service businesses. Average hourly wages in December were 4.6% higher than a year ago. The annual increase in November was initially reported as 5.1%, although that was revised down to 4.8%.

The job market report is the most useless piece of news in existence.

Labor force participation rate is still a full percentage point lower than when the pandemic began. A significant number of folks have dropped out of the labor force altogether, which is a major factor in the unemployment stats.

Wages are down, as is the labor participation rate.

The economy is wrecked and the establishment government made that happen and profited off of it. NPR. Your trusted source for statist propaganda.

Wait to the illegal's start taking Americans jobs wow

And inflation is 8%. “Full employment” is easy to achieve when we print money. It’s why the FED has 2 tasks - inflation and employment…

Yes, but are they PAYING livable wages? Many post-pandemic applicants are not exactly rushing to be underpaid and exploited as they were pre-2020.

Capitalism: when what's good for the worker is shunned by the government and Wall street

Part time gigs people need to take as second jobs to still live paycheck to paycheck is not a gain or achievement by any stretch.

Easy to add jobs to an economy when everyone needs to work 2 or 3 to feed their family.

I feel like the news has been saying we are at risk of a recession for like a year now.

Thanks for the belly laugh. Defund NPR.

Good! With Amazon laying off 15k people they need those jobs!

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