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Labor Market Cooling Amid Hiring Slowdown | Spokane News
Hiring slowed to a crawl last month, with just 57,000 new jobs—far below expectations—and prior months’ figures revised down. While unemployment dipped to 4.2% thanks to 720,000 people exiting the workforce, the leisure and hospitality sector suffered its biggest job losses since the pandemic. Rising gas prices and inflation are likely curbing spending, especially on dining out. Economists describe the labor market as “low hire, low fire,” with companies holding steady on layoffs but hesitant to hire. The Fed remains laser-focused on inflation, and markets may have overcorrected on interest…
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