Interesting article at the link below about the current state of our job market. Per the article, unemployment is low, people are not leaving, and companies are not hiring – this new world is nothing like the Great Resignation, which feels like a short time ago. Some interesting snippets from the article include the following:

• Even as the unemployment rate has hovered around 4 percent for more than three years, the pace of hiring has slowed to levels last seen shortly after the Great Recession, when the unemployment rate was nearly twice as high.
• The percentage of workers voluntarily quitting their jobs to find new ones, a signal of worker power and confidence, has fallen by a third from its peak in 2021 and 2022 to nearly its lowest level in a decade.
• By the end of 2024, the pace of new hiring had fallen to where it had been in the early 2010s, when unemployment was more than 7 percent.
• According to economists and executives, the labor market won’t thaw until employers feel confident enough about the future to begin hiring at a more normal pace. Six months ago, businesses hoped that such a moment would arrive in early 2025, with inflation defeated and the election decided. Instead, the early weeks of Donald Trump’s presidency have featured the looming threat of tariffs and trade wars, higher-than-expected inflation, rising bond yields, and a chaotic assault on federal programs. Corporate America is less sure about the future than ever, and the economy is still frozen in place.

Go to link