'Low-hire, low-fire': The U.S. job market is stagnant right now, economists say

Published On Dec 9, 2024, 2:31 PM

The U.S. job market is currently stagnant, characterized by low layoffs but also a slow pace of hiring. While the unemployment rate is low, many employees are feeling stuck in their jobs without opportunities for new roles. This shift from a dynamic labor market to a more static one has left many workers dissatisfied, particularly in white-collar fields. In response to a difficult hiring environment, companies are focusing on retaining their current workforce. Economists suggest that a revival in hiring may occur if the Federal Reserve continues to lower interest rates, encouraging businesses to invest more in hiring.