The U.S. job market is showing signs of deterioration, with declining job openings and rising unemployment rates. Although unemployment remains historically low, the pace of job growth is slowing. Key indicators such as the Beveridge curve suggest that further declines in job vacancies could lead to significant increases in unemployment. Additionally, employment growth is concentrated in sectors like private education and health services, while areas tied closely to economic health, such as manufacturing and residential construction, are lagging. Tariffs and trade uncertainties are exacerbating these issues, impacting industries reliant on global supply chains. Federal Reserve Chair Jerome Powell maintains that the labor market is balanced, but critics argue that policy responses may need adjustment as conditions worsen.
— new from Business Insider
