Shafaqna English– In April, for the second month in a row, U.S. job creation surpassed forecasts—by a large amount—while the unemployment rate remained unchanged. This suggests that the labor market remains strong despite the U.S.-Israeli war on Iran and the resulting inflationary pressures.
Beneath the surface of that strong headline, the labor market is not booming at all. Although employers are reporting all-time high employment levels, household surveys indicate that employment is actually contracting. Furthermore, the U.S. workforce is declining quickly, the participation rate is at its lowest point in nearly five years, and the range of industries that are hiring remains narrower than the historical average.
Source: Reuters