U.S. Jobs Market Shows Concerning Trends
The U.S. jobs market is showing concerning trends that could lead to inflation and a recession. The unemployment rate in the U.S. has jumped from 3.4% to 4.1% this year making the markets worrisome. The economic warning signs are only increasing lately showing implications of a possible downturn. Also Read: 10 SCO Countries Ready To Ditch US Dollar For Trade The Kobeissi Letter reported that signs of weakness in the U.S. jobs market are growing in 2024. The shift in employment patterns from full-time jobs to part-time jobs is increasing. Full-time employment fell by 28,000 jobs in June 2024 but part-time employment jumped by 50,000 jobs. “The reality is that a record number of people are working multiple jobs to fight inflation,” wrote the Kobeissi Letter. Just in case anyone is still keeping track: Full-time employment in June actually FELL by -28,000 workers. Meanwhile, part-time employment in June jumped by another +50,000 workers. In May, full-time employment actually f...