Oddbean

U.S. job market slows, but it's not yet a 'three-alarm fire,' economist says ========== Employers added 142,000 jobs in August 2024, below expectations; unemployment rate fell to 4.2% from 4.3% in July; job growth has slowed significantly over the past year; average job growth over the past three months is 116,000, down from 211,000 a year ago; private-sector job growth outside healthcare is averaging 39,000 over the past three months; workers quitting jobs at lowest rate since 2018; job openings at lowest since January 2021; economists warn of potential recession if labor market continues to cool; Nick Bunker from Indeed states it's not a 'three-alarm fire' yet; permanent layoffs remain stable, indicating employers are retaining workers; Federal Reserve expected to cut interest rates soon, which may help the economy. #JobMarket #Economy #Unemployment #Recession #FederalReserve #Employment #InterestRates #LaborMarket #EconomicOutlook #JobGrowth https://www.cnbc.com/2024/09/06/august-2024-jobs-report-labor-market-slows-but-not-yet-a-panic.html