Read previewThe US job market has certainly seen better days.
AdvertisementThose rate cuts will help pull the job market out of its slowdown — but likely not before the unemployment rate climbs higher, says Oliver Allen, a senior US economist at Pantheon Macroeconomics.
And even then, it could take time for the effects of rate cuts to fully work their way across the job market, said Mark Hamrick, a senior economic analyst at Bankrate.
AdvertisementSlowdown in the pipelineUntil rate cuts kick in, Allen thinks the joblessness rate has even more room to climb.
AdvertisementForward-looking indicators of job market strength have also been flashing signs of incoming weakness.
Persons:
—, Oliver Allen, Allen, …, Mark Hamrick, Hamrick, David Rosenberg
Organizations:
Service, Business, Pantheon, Challenger, Gray &, Federal, National Federation of Independent Business