Many people are focusing on this month’s dismal hiring report from the US Department of Labor in terms of its effect on the Fed and short-term interest rates. It’s true that the short-term interest rate debate will be important to the US economy, but I see the “unqualified dud of a jobs report” through the lens of workplace culture. Why are so few workers being hired? It’s not that people aren’t looking for jobs; rather, the answer may lie in overarching attitudes about workplace culture. People have less trust in the job market, meaning they’re more likely to stay in the job they’re in; perhaps younger employees are finding it difficult to secure employment in industries used to a revolving door approach in millennial workers. You can read more at the Wall Street Journal.
Hiring "Duds" In the US Economy