Employers cut 35,000 temporary workers last month, marking the largest monthly drop since early 2021, according to data from the St. Louis Federal Reserve. The reductions bring the total number of cuts from August to December to more than 110,000, leading many economists to fear that the labor market is taking a turn for the worse.
“For me, it’s a real warning sign,” James Knightley, chief international economist at ING, told the Wall Street Journal Tuesday. “The jobs market may not be invulnerable to the downturn story.”
