Tech Layoffs Not Yet Signaling Broad Labor Slowdown, But Some Cooling Seen
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Recent tech layoffs don't yet signal a broad labor market slowdown, though there are some signs of cooling. Jobless claims remain low.
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Layoff announcements and actual layoffs can happen on different timelines, so impacts may not show up in data yet.
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Laid-off workers may not rush to file for unemployment if economy stays strong and new jobs plentiful.
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Narrowing job growth and declining hiring rate are potential signs of slowing. Key sectors driving recent gains.
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Firms reluctant to lay off given past pandemic struggles, but question is how long that can last if growth slows.