Jeanne Whalen
speaker
58 appearances
1 recordings
1 series
first heard Jul 2024
last heard Jul 2024
Jeanne Whalen’s voice in public audio — every appearance, attributed to the second.
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Appearances
But you can still have a growing number of jobs added each month and still have an unemployment rate that does grow.
Yeah, sometimes when the labor market has been strong for a while, as it was during COVID, that can entice a lot of people off the sidelines of the economy to come in and start looking for jobs again.
So say a stay-at-home parent or someone else who has been not working in a job can say, things look good, I'm going to start looking for work.
And so that increases the labor pool as well and can tick the unemployment rate upwards.
It does, absolutely.
There are certain areas of the economy where employers are still often struggling to find people.
Those include skilled manufacturing jobs, some construction jobs, things like accounting.
All of those professions, you'll talk to small and mid-sized manufacturers, and they will often say, we're still having a hard time finding good people.
So that is still a problem in some parts of the country.
But it's not maybe as big a problem as it was a couple years ago.
That's only some economists believe that, by the way.
But the factors that could push it up more are if economic growth slows down, that could cause companies to pull back more on their hiring.
That could mean companies are earning less money themselves and don't need as many workers.
It could cause them to start laying off more workers.
At the moment, the layoff rate is still very low and pretty stable.
But if...
companies are earning less, then we could see the layoff rate tick up.
Those are sort of the main factors to watch for.
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