TechFlow, Sept. 18 — The number of Americans filing first-time unemployment claims last week declined, but the labor market has cooled, with both labor demand and supply falling. While layoffs remain relatively low, hiring in the labor market has nearly stalled. Economists attribute the slowdown in labor demand to uncertainties caused by import tariffs. At the same time, tighter immigration policies have reduced labor supply, creating what Federal Reserve Chair Powell described as an "anomalous balance." Powell told reporters: "When we usually say 'in balance,' it sounds like a good thing. But this 'balance' is due to significant declines on both the labor supply and demand sides. We are now seeing a slight rise in the unemployment rate." (Jinshi)
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