- Job listings increased by 2,000, surprising economists once again.
- Despite the Fed’s efforts in raising interest rates, the labor market continues to stay strong.
- The current state of the labor market is desperately affecting our economy, and will continue to do so unless there is a drastic fall in job availability.
Despite the Fed’s efforts to cool the economy with increasing interest rates, the labor market is still taking everyone by surprise and remaining strong. Worries grow as inflation is on the rise, and without a drastic fall in the market, Americans will still continue to struggle financially to keep up with the Fed.
According to the U.S. Labor Department’s job report for November 2022, employers added 263,000 jobs and the unemployment rate remains at 3.7%. Despite the economy, businesses are cautiously staying afloat but making efforts to expand.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the December pre-job report.