A “Hot” Jobs Market: What Lies Beneath the Headlines
Over the past year, media reports have described the labor market with adjectives like “hot,” “booming,” and “roaring.” These terms seem to suggest an image of a thriving job market, but the data paints a much more nuanced picture. Beneath these catchy headlines, the labor market reveals some slowing trends and weaker fundamentals that can easily go unnoticed by the casual observer. Here, we unpack the recent employment data, wage growth trends, and market response to better understand the current economic landscape.
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