![]() Factory Jobs: American manufacturers have now added enough jobs to regain all that they shed during the pandemic - and then some.Disabled Workers: With Covid prompting more employers to consider remote arrangements, employment has soared among adults with disabilities.A Cooling Market?: Unemployment is low and hiring is strong, but there are signs that the red-hot labor market may be coming off its boiling point.September Jobs Report: Job growth eased slightly in September but remained robust, indicating that the economy was maintaining momentum despite higher interest rates.The State of Jobs in the United States Economists have been surprised by recent strength in the labor market, as the Federal Reserve tries to engineer a slowdown and tame inflation. Unemployment is at 3.5 percent, matching the lowest level in 50 years, and average hourly earnings picked up at a solid 5 percent clip compared with a year earlier. Employers added 263,000 workers in September, fewer than in recent months but more than was normal before the pandemic. “This may mean that slowing aggregate demand will lead to a smaller increase in unemployment than we have seen in previous recessions.”įor now, the job market remains strong. “Businesses that experienced unprecedented challenges restoring or expanding their work forces following the pandemic may be more inclined to make greater efforts to retain their employees than they normally would when facing a slowdown in economic activity,” Lael Brainard, the Fed’s vice chair, said in a recent speech. A few have speculated that today’s staffing woes will help them to pull it off, as companies try harder than they have in the past to weather a slowdown without cutting staff. But officials are still hoping to achieve a soft landing in which growth moderates without causing widespread job losses. ![]() America’s economy is facing a marked - and intentional - slowdown as the Fed raises interest rates to chill demand and drive down price increases, the kind of pullback that would usually result in notably higher unemployment. That may help prevent the kind of painful recession the Federal Reserve is hoping to avoid as it tries to combat persistent inflation. And up and down the wide avenue that separates the two restaurants, storefronts display “Help Wanted” signs or announce that the businesses have had to temporarily reduce their hours. Pritchard’s pizza shop is now relying on an outside cleaner to help his thin staff tidy up. The workers it has are often new to the industry, or young: On a recent Wednesday night, a 17-year-old could be found torching a crème brûlée.ĭown the street, Mr. ![]() ![]() Bistro Provenance, which opened in September, has been unable to hire enough employees to open for lunch at all, or for dinner on Sundays and Mondays. Workers who show up drunk these days are sent home to sober up.Įmployers in Provo, a college town at the base of the Rocky Mountains where unemployment is near the lowest in the nation at 1.9 percent, have no room to lose workers. Consistent transportation issues have ceased to be a deal breaker. Infractions that previously would have led to a quick dismissal no longer do at the chef’s two places, Fat Daddy’s Pizzeria and Bistro Provenance. PROVO, Utah - Chad Pritchard and his colleagues are trying everything to staff their pizza shop and bistro, and as they do, they have turned to a new tactic: They avoid firing employees at all costs.
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