At 4.1%, the unemployment rate remains historically low. (For context: The unemployment rate never dropped below 5% in the 1970s or the 1980s.) Expectations were for the unemployment rate to have climbed from 4.1% to 4.2%, with 214,000 jobs added. “With the current jobs market cooling down quite a bit from the Great Resignation, and with inflation, people don’t feel secure making the leap” to new roles, Wigert said. Not all economists agree that the U.S. labor market is experiencing unusual tensions — and what frictions do exist have, in certain cases, immediately identifiable causes.

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Persons: Dan Hevia, ” Hevia, Hevia, “ I’m, ”, Guy Berger, “, ” Berger, what’s, Gallup, Ben Wigert, Wigert, they’re, Kamala Harris, Donald Trump, Harris, Trump’s, Wells, Goldman Sachs, Thomas Ryan Organizations: New, NBC News, Labor Statistics, of Labor Statistics, Glass, Gallup, ”, Biden, Trump, Capital Economics, Vanguard, “ Locations: New York City, U.S