U.S. jobs data show broad cooling after run of surprise strength

Looking ahead, sustained setbacks in the labor market - the bedrock of consumer spending and the broader economy - risk raising concerns about the nations ability to weather high interest rates without falling into recession. Chair Jerome Powell hinted the central bank may be finished with rate hike...

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Bibliographic Details
Published inAlaska Journal of Commerce Vol. 47; no. 46; p. 16
Main Author Pickert, Reade
Format Trade Publication Article
LanguageEnglish
Published Anchorage MCC Magazines, LLC d/b/a Alaska Magazine 12.11.2023
Subjects
Economic conditions
Employers
Interest rates
Job creation
Labor market
Recessions
Unemployment
United States > US
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Summary:Looking ahead, sustained setbacks in the labor market - the bedrock of consumer spending and the broader economy - risk raising concerns about the nations ability to weather high interest rates without falling into recession. Chair Jerome Powell hinted the central bank may be finished with rate hikes, a decision that would be reinforced in the months ahead by a further easing in labor demand. The smaller gain in payrolls, combined with slover wage growth and a drop in hours worked, led a broad measure of labor market health to stagnate. [...]a gauge of take-home pay declined by the most since the start of 2022.
ISSN:1537-4963