US labor market in 2024: Gradual cooling, conditions now looser than pre-Covid


Wooden people on a blue background and the inscription

Kseniia Ivanova/iStock via Getty Images

The US labor market showed remarkable resilience in 2022, even as inflation rose. Conditions remained hot in 2023, but this year the workforce finally started to cool. That gave the Federal Reserve enough confidence to deliver an outsized half-point interest rate cut in September.



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