Jobs Growth Slows 📉

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Jobs Growth Slows – The Labor Market Cools with Varying Data

After several concrete signs showing a robust and undying American labor market, new data has been released that may depict otherwise. Just last month, economic data regarding nonfarm payrolls and the job market shocked the nation, with an unemployment rate that reached a 53-year low. Following this, investors suspected inflation might have a much longer way to go to reach the targeted 2% level; furthermore, they questioned whether knowledge of the news would have changed the Federal Reserves’ previous interest rate hike of 25-basis-points. Now, new data has been released that tells a different story than what has been heard.

Two of the largest online recruiting companies, ZipRecruiter and Recruit Holdings, both released their tracked volume of the number of job postings late last year and the beginning of this year. What was discovered was a decrease in the number of available job postings this year, which may potentially soon translate into the economic forecasts set to release this month. As of now, several experts claim a majority of the pressure weighing on the Fed’s choices relies on the labor market; if there was any validity on whether companies have received enough fiscal pressure to slow hiring across all domains, then there are possibilities the Fed can loosen its aggressive interest rate tightening cycle. Next week, investors should monitor both January’s job openings numbers and the nonfarm payrolls for February, to truly see whether there is any correlation between the data from job-recruiting companies and the American economy.

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