November 5, 2023

Despite an anticipated labor market boom, October’s job growth fell flat at 150,000 – a stark deviation from predicted figures. Stubborn inflation, intensified economic uncertainty and higher interest rates are taking their toll, with the unemployment rate peaking to a shocking 3.9%. And so, it seems the U.S. labor market’s usual robustness is showing signs of wear. Yet in the face of adversity, the resilience of the American workforce shines through. Yes, the landscape is shifting, but our labor force does not falter; it adjusts, it changes, and it persists.