Employers in America Want to Hire More Workers. Just Not Right Now
It couldn’t be clearer at this point that the US labor market is cooling. Even though the unemployment rate edged lower last month to 4.2%, joblessness is still hovering near highs not seen since the fall of 2021. On top of that, employers have hired significantly fewer workers in recent months compared to prior years and the number of job openings fell in July to the lowest level since January 2021, according to Labor Department data. Holding off on hiring more workers until after the election is “a rational decision,” said Sean Snaith, director of the Institute for Economic Forecasting at the University of Central Florida. “When there’s more clarity about the future,” he said, “businesses are more confident in making these kinds of decisions.”
CNN