Hiring in the Private Sector Surges, Despite All Moaning & Groaning about the Economy or Whatever

Hiring in the Private Sector Surges, Despite All Moaning & Groaning about the Economy or Whatever

Layoffs & discharges as share of payrolls remain historically low: But the immense pandemic-era churn in the labor market has slowed.

Hiring in the Private Sector Surges, Despite All Moaning & Groaning About the Economy or Whatever

by Wolf Richter Wolf Street Layoffs & discharges as share of payrolls remain historically low: But the immense pandemic-era churn in the labor market has slowed. The number of workers who were hired by the private sector in April jumped by 160,000 from March, to 5.21 million hires, the most in a year, seasonally adjusted. The low point was in June 2024 (blue line in the chart). The three-month average, which irons out the month-to-month squiggle…