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Jobs Growth Slows, Inflation Stalls | Salt Lake City News
The latest jobs report delivered a lukewarm performance: just 57,000 new jobs—far below expectations—and revisions cut previous months’ gains by 74,000. While that number might keep unemployment steady, it’s the slowest job growth in a decade (excluding pandemic years). Wages rose, but inflation outpaces them, eroding real buying power. The unemployment rate held at 4.2%, but that’s misleading—fewer people are even looking for work, and sectors like hospitality are shrinking. Growth is shifting to health care and professional services, while manufacturing stalls and long-term unemployment…
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