"Friday's jobs report was pretty bleak. Hiring stalled in August, and prior months were revised lower, too, all but confirming the labor market's summer slowdown. Other metrics weren't great: The manufacturing sector has lost jobs so far this year. Youth unemployment continues to rise, a bad sign for Gen Zers. Even a relatively stable sector like healthcare is showing signs of cooling."
"One stat from that report, released last week, stood out to me: The number of unemployed Americans in July outnumbered available jobs for the first time since 2021. In other words, there are just not enough jobs for people who are on the hunt. At Business Insider, we spend a lot of time covering leadership, careers, and the workplace. In particular, we like to go behind the data and see how these trends impact real people."
The US labor market cooled in August as hiring stalled and prior months were revised lower, signaling a summer slowdown. Manufacturing has lost jobs year-to-date, youth unemployment rose, and healthcare showed signs of cooling. JOLTS data indicated unemployed Americans in July outnumbered available jobs for the first time since 2021, creating a shortage of openings for job hunters. Job seekers are responding with networking, certifications, AI-assisted searches, paper résumé drop-offs, and in-person tryouts. A JPMorgan strategist described the report as "ouch." Erewhon plans a tonic bar inside a new Kith Ivy members club in New York.
Read at Business Insider
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