U.S. Job Market Trends
The U.S. job market is showing signs of cooling off gradually, with job openings and hiring numbers decreasing. Despite this, wages are still rising at a solid pace, indicating a slow transition to a softer labor market.
Key Points
- Job market moving past overpressurized levels of 2021-2022
- Fed officials using job openings to unemployed workers ratio as an indicator
- Data suggests a slow transition to a softer labor market
Pros
- Job market coming into balance gradually
- Minimal layoffs reported
- Wages still rising at a solid pace
Cons
- Decrease in job openings and hiring numbers