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WSJ What’s News

Mixed Messages in a Strong U.S. Jobs Market: Your Questions Answered

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 14 April 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

According to the numbers, the U.S. jobs market is doing well. The Labor Department says employers added 303,000 jobs in March, 100,000 more than most economists expected, and the unemployment rate remains close to lows not seen since the 1960s. So why do so many Americans feel frustrated by their employment prospects? Wall Street Journal reporter Harriet Torry and columnist Calum Borchers answer your questions on the labor market. Luke Vargas hosts. Further Reading Brisk Hiring Bolsters Fed’s Cautious Stance on Rate Cuts These College Seniors Locked In Job Offers. Here’s How They Did It. How Gen Z Is Becoming the Toolbelt Generation Americans Don’t Care as Much About Work. And It Isn’t Just Gen Z. What’s Wrong With the Economy? It’s You, Not the Data Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:03.5

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0:09.5

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0:12.0

Now through April 15th, Net Suite is offering a one-of-a-kind flexible financing program.

0:17.9

So head to NetSuite.com slash Wall Street right now. Now. Hey what's news listeners, it's Sunday, April 14th.

0:29.1

I'm Luke Fargas.

0:30.3

And I'm Anne Marie Fertoli for the Wall Street Journal.

0:32.6

This is What's News Sunday, the show where we tackle the big questions about the biggest stories in the news.

0:38.0

We reach out to our colleagues across the newsroom to help explain what's happening in our world.

0:43.0

This week we're getting to the bottom of the current state of the labor market and making sense

0:47.7

of how a hiring boom can coexist with slowing wage growth and the many employment-related concerns that you called in asking about.

0:56.0

All right, let's get right to it.

1:01.0

How strong is the U.S US job market?

1:05.0

Well, just over a week ago, Labor Department non-farm payroll's data showed employers adding a seasonally adjusted

1:12.0

303,000 jobs in March,

1:15.0

significantly more than the 200,000 that economists expected.

1:20.0

The unemployment rate also ticked down slightly to 3.8 percent, a number still close to lows not seen since the late 1960s.

1:29.0

But for the Americans on the hunt for a job, the labor market may not feel as strong.

1:35.3

So far this year, we've reported layoffs at Google Parent Alphabet, Amazon, and UPS.

1:41.0

In February, big hitters like Nike and Morgan Stanley followed suit, and just last month, Chrysler

1:46.8

parent Stolantis, as well as Unilever, announced plans for layoffs too.

1:51.6

So for many of us reading the news it might all feel like mixed

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