America has always been a job-creating machine. It has broken down for three straight years, and the implications could be with us for a long time.
It’s the strangest job market the U.S. has ever seen. The low-hire, low-fire economy turns 3 years old.
In short
The unusual shift away from standard employment cycles has now persisted across three uninterrupted years. During this period, the nation's traditional capacity to reliably generate employment opportunities has completely broken down. This lasting disruption to normal workforce patterns is stoking widespread concerns regarding the nation's future economic stability. Consequently, the broader implications of this ongoing labor transition could impact the domestic economy for a long time.
Key points
- The persistent breakdown of standard labor market dynamics has raised serious concerns ab…: The persistent breakdown of standard labor market dynamics has raised serious concerns about future economic conditions.
- Traditional job creation patterns have failed to function normally for three consecutive…: Traditional job creation patterns have failed to function normally for three consecutive years across the nation.
- Long-term impacts from this extended labor disruption could influence the broader economy…: Long-term impacts from this extended labor disruption could influence the broader economy well into the future.