According to a Labor Department report, the U.S. added 428,000 jobs in April, and the unemployment rate was unchanged at 3.6%, as the labor market remained vibrant. However, with further aggressive monetary policy tightening by the Fed increasing the likelihood of a recession, companies are warning of a hiring slowdown.
Due to multi-decade high inflation, the Russia-Ukraine war, intensified supply chain disruptions, and rising energy and commodity prices, major companies' revenue declined. So, many companies plan to freeze their hiring to contain their costs. This could mar the U.S. jobs recovery.
