After years of plentiful employment opportunities, healthy pay bumps and pandemic savings-fueled spending sprees, American workers now face a sobering economic reality: It’s getting harder and harder to find work, and more and more industries are shedding jobs.
The latest jobs report, released Friday, indicated that the US economy added about 22,000 jobs in August and the unemployment rate ticked up to 4.3%, the highest it’s been in nearly four years.
The job market is “stalling,” Glassdoor economist Daniel Zhao told CNN on Friday, “it’s slowing to a dangerous speed.”
Job growth is practically nonexistent.
And if the labor market is showing signs of a cold, that doesn’t bode well for the overall health of the economy.
