While the US is not in a recession officially, job employment rates have fallen to lows not seen since the 2008 recession and the pandemic. The slow hiring and low unemployment rate is unprecedented in this century. As of March, more than a quarter of unemployed job seekers have been seeking one for 27+ weeks. It is unlikely that the government will expand benefits to accompany the slowdown.
Boratssecondwife on
>job growth absolutely halted since liberation day
>”But the thing that I think a good number of people on the committee are concerned about is just the very, very low level of job creation,” Powell said in a press conference following the Fed’s decision to hold interest rates steady.
>”Effectively, there’s zero net job creation in the private sector,” after accounting for revisions over the past six months, Powell said. “But actually, that looks like that’s about what the economy needs, in terms of dealing with very, very low — nonexistent, really — growth in the labor force, which of course we’ve never had in our history.”
Zero net job creation in the private sector makes for a scary time to lose a job.
Okbuddyliberals on
I wonder if employers will remember the somewhat aberrational economic situation of the earlier 2020s with labor shortages and such, and will get in the trend of strongly holding it against jobseekers if they engaged in high amounts of job switching or were unemployed for a length of time that suggests they might have utilized that long pandemic aid for longer than was necessary, now that employers are in a stronger position relative to labor again
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While the US is not in a recession officially, job employment rates have fallen to lows not seen since the 2008 recession and the pandemic. The slow hiring and low unemployment rate is unprecedented in this century. As of March, more than a quarter of unemployed job seekers have been seeking one for 27+ weeks. It is unlikely that the government will expand benefits to accompany the slowdown.
>job growth absolutely halted since liberation day
Why didn’t anyone tell us tariffs were bad???
https://finance.yahoo.com/news/powell-job-creation-is-near-zero-202637723.html
>”But the thing that I think a good number of people on the committee are concerned about is just the very, very low level of job creation,” Powell said in a press conference following the Fed’s decision to hold interest rates steady.
>”Effectively, there’s zero net job creation in the private sector,” after accounting for revisions over the past six months, Powell said. “But actually, that looks like that’s about what the economy needs, in terms of dealing with very, very low — nonexistent, really — growth in the labor force, which of course we’ve never had in our history.”
Zero net job creation in the private sector makes for a scary time to lose a job.
I wonder if employers will remember the somewhat aberrational economic situation of the earlier 2020s with labor shortages and such, and will get in the trend of strongly holding it against jobseekers if they engaged in high amounts of job switching or were unemployed for a length of time that suggests they might have utilized that long pandemic aid for longer than was necessary, now that employers are in a stronger position relative to labor again