Job Market's New Normal: Weak Growth, K-Shaped Recovery

The US job market is in its worst slump since 2011, with just 17,000 new payrolls per month on average over the past six months. Despite strong economic growth, private sector hiring is also weak, with underemployment at 8.7% and job openings per unemployed worker at a decade low. This K-shaped recovery sees the wealthy thriving while middle and lower incomes struggle. Young people, particularly Gen Z, are hit hardest, with businesses preferring productivity over hiring. Analysts warn AI and aging demographics could lock in this jobless growth pattern, leaving many to question where the jobs are. Checkout Solipillow.comThe Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.