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Hiring, Wage Gains Eased in December, Pointing to a Cooling Labor Market in 2023
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The U.S. labor market is losing momentum as hiring and wage growth cooled in December, showing the effects of slower economic growth and the Federal Reserve’s interest-rate increases.
After two straight years of record-setting payroll growth following the pandemic-related disruptions, the labor market is starting to show signs of stress. That suggests 2023 could bring slower hiring or outright job declines as the overall economy slows or tips into recession.
Read more on wsj.comAbout this in other media
Unemployed Americans Find Job Searches Take Longer as Labor Market Cools wsj.com /1 year ago
Companies Cut Temp Workers in Warning Sign for Labor Market wsj.com /1 year ago
Jobless Claims Fall, Pointing to Still-Tight Labor Market wsj.com /1 year ago
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