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Job Market Holds Despite Global Tensions | Irvine News
Description
Job openings dipped slightly in June to 7.36 million, but the labor market remains surprisingly resilient amid global tensions and rising energy prices. Layoffs stayed steady while quit rates rose — a sign workers feel confident about their next move. Despite last year’s hiring freeze due to high interest rates and uncertainty, employers are still holding their ground. The July jobs report is expected to show around 100,000 new jobs with unemployment hovering near 4.2%, a stark contrast to past norms. With fewer people entering the workforce thanks to immigration shifts and Baby Boomer retirements, economists now argue the economy may need almost zero new jobs to keep unemployment stable.
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