Rural Radio Network on Nostr: Unemployment is low but rising quickly. Is it reason to worry? ========== As of ...
Unemployment is low but rising quickly. Is it reason to worry?
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As of September 24, 2024, the U.S. unemployment rate has risen from 3.7% to 4.2% this year, still low historically but indicative of a cooling job market; hiring has slowed from an average of nearly 400,000 jobs per month in 2022 to about 116,000 jobs per month over the last three months; Federal Reserve cut interest rates last week to combat rising joblessness; Fed Chair Jerome Powell stated, "The U.S. economy is in good shape"; Economists are divided on the outlook, with some seeing stability and others warning of potential layoffs; Valerie Wilson from the Economic Policy Institute believes the situation isn't alarming yet, citing a 23-year high in prime-age workers and low unemployment claims; Nick Bunker from Indeed Hiring Lab raised concerns about the Sahm Rule, which suggests rising unemployment can precede recessions; Julia Pollak from ZipRecruiter noted that over 10% of Americans are underemployed; uncertainty remains about the job market's future.
#Unemployment #Economy #FederalReserve #InterestRates #JobMarket #Recession #LaborMarket #EconomicAnalysis #Employment #Inflation
https://ruralradio.com/bull/abc_news/unemployment-is-low-but-rising-quickly-is-it-reason-to-worry-abcid08305f71/
==========
As of September 24, 2024, the U.S. unemployment rate has risen from 3.7% to 4.2% this year, still low historically but indicative of a cooling job market; hiring has slowed from an average of nearly 400,000 jobs per month in 2022 to about 116,000 jobs per month over the last three months; Federal Reserve cut interest rates last week to combat rising joblessness; Fed Chair Jerome Powell stated, "The U.S. economy is in good shape"; Economists are divided on the outlook, with some seeing stability and others warning of potential layoffs; Valerie Wilson from the Economic Policy Institute believes the situation isn't alarming yet, citing a 23-year high in prime-age workers and low unemployment claims; Nick Bunker from Indeed Hiring Lab raised concerns about the Sahm Rule, which suggests rising unemployment can precede recessions; Julia Pollak from ZipRecruiter noted that over 10% of Americans are underemployed; uncertainty remains about the job market's future.
#Unemployment #Economy #FederalReserve #InterestRates #JobMarket #Recession #LaborMarket #EconomicAnalysis #Employment #Inflation
https://ruralradio.com/bull/abc_news/unemployment-is-low-but-rising-quickly-is-it-reason-to-worry-abcid08305f71/