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US labor demand is slowing, with job openings down about 11% from a year ago, but it is not clear whether the job market is cooling or shifting to a new normal.
The uncertainty has taken on heightened
U.S. Hiring Slows As Labor Market Reflects Cooling Ahead Or New Normal
Summary
- US labor demand is slowing, with job openings down about 11% from a year ago, but it is not clear whether the job market is cooling or shifting to a new normal.
- The uncertainty has taken on heightened importance as the Federal Reserve is closely gauging the health of the domestic labor market while it considers its next interest rate cut.
- While job openings are falling, they remain near where they were just months before the COVID-19 pandemic hit.
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