"The U.S. job market is sluggish and confusing this fall. American companies are mostly holding onto the employees they have. But they're reluctant to hire new ones as they struggle to assess how to use artificial intelligence and how to adjust to President Donald Trump's unpredictable policies, especially his double-digit taxes on imports from around the world. The uncertainty leaves jobseekers struggling to find work or even land interviews."
"Federal Reserve policymakers are divided over whether the labor market needs more help from lower interest rates. Their deliberations are rendered more difficult because official reports on the economy's health are coming in late and incomplete after a 43-day government shutdown. The Labor Department is expected to provide at least a little clarity when it releases November numbers on hiring and unemployment Tuesday, 11 days late."
"Forecasters surveyed by the data firm FactSet expect that employers added an unimpressive 40,000 jobs last month and that unemployment stayed at 4.4%, unchanged from the last rate published - for September. Hiring has clearly lost momentum, hobbled by uncertainty over Trump's tariffs and the lingering effects of the high interest rates the Fed engineered in 2022 and 2023 to rein in an outburst of inflation."
The U.S. labor market has slowed markedly, with many companies choosing to retain existing employees while hesitating to add new hires. Employers face uncertainty over how to integrate artificial intelligence and how to respond to President Donald Trump's unpredictable trade policies and double-digit import taxes. Jobseekers are finding it harder to secure work or interviews. Federal Reserve officials are split on whether lower interest rates are needed, with their assessments complicated by late and incomplete economic reports after a 43-day government shutdown. Recent data revisions and weak monthly hiring figures underscore the loss of momentum in job creation.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]