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BREAKING: The number of private hires as a % of private employment fell to 3.6% in June, the third-lowest since the 2020 low.
This comes as the number of private hires declined by -246,000, to 4.9 million, marking the biggest monthly drop since June 2024.
The private hiring rate has now fallen by ~1.5 percentage points over the last 4 years.
It is currently below 2001 recession levels and aligns with readings from the 2008 Financial Crisis.
It also remains well below the pre-pandemic average of ~4.0%.
The US labor market is stalling.
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This comes as the number of private hires declined by -246,000, to 4.9 million, marking the biggest monthly drop since June 2024.
The private hiring rate has now fallen by ~1.5 percentage points over the last 4 years.
It is currently below 2001 recession levels and aligns with readings from the 2008 Financial Crisis.
It also remains well below the pre-pandemic average of ~4.0%.
The US labor market is stalling.
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BREAKING:
WHITE HOUSE CRYPTO REPORT URGES TO REMOVE CAPITAL GAINS TAX ON SMALL #BITCOIN PAYMENTS
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WHITE HOUSE CRYPTO REPORT URGES TO REMOVE CAPITAL GAINS TAX ON SMALL #BITCOIN PAYMENTS
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Media is too big
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Ozzy Osbourne's funeral procession takes place today. Farewell to the Prince of Darkness—may he rest in peace.
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