Bank Failures. High Inflation. Rising Rates. Is the Resilient Jobs Market About to Crack?
The U.S. labor market has been on a tear since the economy bounced back from the pandemic, with employers adding 5.6 million jobs since the start of 2022 alone. Despite a wave of layoffs in technology and finance, many employers have kept hiring through the highest inflation in 40 years and the fastest pace of interest-rate increases since the 1980s.
Recent banking-industry turmoil added another economic risk and raises the question: Is the long-resilient labor market about to slip?
