Sluggish domestic demand leads to job market decline

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Sluggish domestic demand leads to job market decline

//business-finance.news-articles.net/content/202 .. domestic-demand-leads-to-job-market-decline.html

Published in Business and Finance on Wednesday, January 15th 2025 at 3:00 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Lackluster domestic demand is adversely affecting the labor market, where manufacturing, construction and other labor-intensive sectors offered fewer job opportunities and new jobs were created at a slower pace last year.

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The article from MSN discusses the current state of the U.S. job market, highlighting a decline attributed to sluggish domestic demand. Despite a robust labor market earlier in the year, recent data indicates a slowdown with fewer job openings and a slight increase in unemployment rates. This shift is linked to reduced consumer spending, influenced by factors such as high inflation rates, rising interest rates, and economic uncertainty. Businesses, facing lower demand, are less inclined to hire, leading to a cooling in job growth. The article also notes that while some sectors like technology and finance are cutting jobs, others like healthcare and education continue to see growth, albeit at a slower pace. Economists suggest that this could be a temporary adjustment, but there's concern about the potential for a more prolonged economic downturn if consumer confidence does not recover.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/general/sluggish-domestic-demand-leads-to-job-market-decline/ar-AA1xe8qM ]