Early warning signs emerge of potential downturn in job market
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Unemployment trends are mirroring past recessions, with the Sahm rule indicator approaching levels that signaled previous economic downturns
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Layoff announcements by companies rose 120% in Q1 2022 compared to the previous quarter, indicating planned job cuts are increasing
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Job growth has mainly occurred in part-time positions rather than full-time roles, signifying weaker labor market health
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Employers' plans to hire workers plunged 48% in Q1 compared to last year, showing declining demand for new hires
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If hiring continues to slow, the risk of the US tipping into a recession could rise even if the job market currently looks strong on the surface