Markets around the globe fell sharply; the S&P 500 index was down 3 percent.
Stock markets are fickle, and their movements can’t tell you much about the health of the economy.
But yesterday’s tumult reflects an underlying reality: The job market is cooling.
Now, the unemployment rate, at 4.3 percent, is basically back to normal.
By April 2020, the unemployment rate — which had been at a five-decade low of 3.5 percent — jumped to nearly 15 percent.
Persons:
Covid
Organizations:
Stock