2025-08-01 14:03:05
BREAKING: The number of private hires as a % of private employment fell to 3.6% in June, the third-lowest since the 2020 low.
This comes as the number of private hires declined by -246,000, to 4.9 million, marking the biggest monthly drop since June 2024.
The private hiring rate has now fallen by ~1.5 percentage points over the last 4 years.
It is currently below 2001 recession levels and aligns with readings from the 2008 Financial Crisis.
It also remains well below the pre-pandemic average of ~4.0%.
The US labor market is stalling.
🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶
This comes as the number of private hires declined by -246,000, to 4.9 million, marking the biggest monthly drop since June 2024.
The private hiring rate has now fallen by ~1.5 percentage points over the last 4 years.
It is currently below 2001 recession levels and aligns with readings from the 2008 Financial Crisis.
It also remains well below the pre-pandemic average of ~4.0%.
The US labor market is stalling.
🄳🄾🄾🄼🄿🤖🅂🅃🄸🄽🄶