While the US labor market grew by 143,000 non-farm payroll jobs in January — below forecasts of 175,000 — the national unemployment rate fell to 4% from 4.1% month-over-month. ZipRecruiter Chief Economist Julia Pollak joins the program to lay out the biggest takeaways from the January jobs report.
She calls the 4% benchmark “usually the sort of magical threshold below which participation increases because employers are under pressure, and they have to increase wages and improve benefits and improve working conditions.”
Pollak illustrates which industries are seeing the most noticeable employment gains, going on to tell Wealth host Brad Smith that “this is a cool market in which there aren’t as many doors open to job seekers, as is usually the case,” as employers maintain a “very cautious, very conservative” approach to hiring.
Watch the video above to hear more of Julia Pollak’s commentary on the Great Stay period enacted by employees.
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