Government agencies are overwhelmed with uncertainty as they struggle to navigate the flood of new policies, while employees scramble to understand the effects on their lives. A Department of Education employee was attending a funeral when she received an unexpected call: she was being placed on administrative leave due to her involvement in programs that support Black students and others in accessing federal resources. A disabled veteran...
Historical economic trends reveal that unemployment rates often begin to rise before a recession hits, while widespread layoffs tend to follow as the downturn deepens. As job growth slows and unemployment edges higher, some economists see a glimmer of optimism in employers' reluctance to part with their current workforce. Despite high-profile layoffs at a few major companies, overall job cuts remain below pre-pandemic levels during times of...
Each year, retailers rush to hire employees to support their stores and distribution centers, preparing for the surge in demand as millions of Americans shop for Christmas and other winter holidays. This annual hiring spree often serves as a barometer for the health of the retail sector and the broader U.S. economy. According to Labor Department data released on Wednesday, seasonal hiring in the retail trade sector for November 2024 was...
When Brad Wang landed his first tech job straight out of college, he was struck by the indulgent perks of Silicon Valley. Game rooms, nap pods, and scenic hiking trails turned the mundane concept of work into something that felt more like a Gatsby-esque gathering. For a newcomer like Mr. Wang, it was an impressive spectacle. Beneath the glamorous surface, however, he found a troubling emptiness. Moving between software engineering roles, he...
In December, a surge of 256,000 jobs surpassed expectations, bringing unemployment down to 4.2 percent. However, markets reacted negatively as hopes for interest rate cuts appeared more remote. Employers wrapped up 2024 on a high note, capping the year with a hiring surge after a summer slowdown and an autumn marked by disruptions. In December, the economy gained 256,000 jobs, seasonally adjusted, according to the Labor Department's report on...
Job growth has decelerated, yet unemployment continues to defy traditional economic expectations. Significant policy shifts under the new administration may challenge this stability. Not long ago, the pivotal question driving economic forecasts and financial market speculation was this: Can the U.S. economy sidestep a recession? Today, for many in the business world, that question feels almost outdated—a remnant of a more anxious...
Jobs and wage growth remain strong, defying expectations as the Federal Reserve works to slow the economy, leaving policymakers and forecasters surprised. Job growth remains rapid, unemployment is hovering near historic lows, and wage increases are strong, even as the Federal Reserve’s nearly two-year effort to cool the economy through higher interest rates continues to unfold — an outcome that has caught policymakers and economic...
In July, U.S. employers added only 114,000 jobs, falling well below expectations, while the unemployment rate climbed to 4.3 percent, marking its highest point since 2021. American employers sharply scaled back hiring in July, heightening concerns that the economy may be cooling more rapidly than anticipated. The Labor Department reported on Friday that payrolls grew by just 114,000 jobs, marking the second smallest increase in a 43-month streak...
The post-pandemic recovery has led economists to question whether their strategies need a complete rewrite or simply an added chapter. The pandemic triggered an unprecedented economic crisis, defying comparisons to any previous recession. Unsurprisingly, its aftermath has also unfolded in ways that caught many economists off guard. When unemployment skyrocketed during the pandemic's early days, fears mounted of a repeat of the protracted,...
The New York Times is inviting recent college grads, young professionals, and hiring managers to share their insights on this year’s job market. The economy is growing, and unemployment remains low, yet the job market isn’t as robust as it once was. Younger job seekers, whether they hold college degrees or not, are feeling the pressure. Hiring projections for this year’s college graduates have dipped compared to last year, with...
