A new survey of business economists suggests U.S. job market conditions are beginning to soften, with firms indicating an easing of labor shortages and a pullback in hiring expectations.
A National Association for Business Economics survey showed about a third of respondents say their firms are not facing any labor shortages, and nearly 20% expect employment at their company to fall in the coming months.
“For the first time since 2020, more respondents expect falling rather than increased employment at their firms in the next three months,” NABE President Julia Coronado, founder and president of MacroPolicy Perspectives LLC, said in a statement. “Fewer respondents than in recent years expect their firms’ capital spending to increase in the same period.”
