Economic Take

What the Job Market Tells Us About the Economy

October 1, 2019

With all eyes on the latest jobs report, there’s some concern about why hiring has slowed so much since last year. But now that the US is close to full employment, the economy is beginning to transition from recovery mode to steady state. At this stage in the business cycle, metrics such as layoffs and worker pay provide a more accurate measure of the state of the economy than the pace of new hiring.