US: The rate of job growth has slowed to its weakest level since 2011, excluding the pandemic period
US Hiring Slows to Lowest Level in 15 Years
According to recent figures released on Tuesday, American companies are bringing on new employees at a rate not seen since 2011, aside from the initial impact of the pandemic. The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics revealed that, by the end of February, only 3.1% of the workforce was newly hired—a drop from January’s 3.4%. This marks the sharpest monthly decrease outside of the pandemic period and highlights a significant cooling in the job market, even before recent Middle East tensions began to threaten the US economy.
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