Posted 4/4/2024, 5:42:59 PM
Hiring Slowdown Signs Emerge Despite Historically Low U.S. Unemployment Rate
- US unemployment rate has stayed at historic lows recently, but there are signs hiring may be slowing down in some sectors
- Healthcare and state/local government sectors are still driving strong job growth
- Immigration rebound since 2023 has allowed economy to continue adding over 200k jobs per month
- Job openings down 11% year-over-year; quits have returned to pre-COVID levels indicating slower wage growth
- All eyes on if unemployment rate breaks 4% again, which could influence Fed decisions on interest rates
