The month of April saw the addition of 160,000 jobs, but this was the slowest pace of job growth measured since September. Redfin staffer Lorraine Woellert takes a look at the state of the job market and points to four facts one should know about the job market.
She explains that this was a bad spring for corporate earnings, leading executives to cut costs. In the first three months of the year, there were 184,920 job cuts:
“Layoffs in 2016 are the highest they’ve been in seven years,” Redfin Chief Economist Nela Richardson said. “The U.S. is still adding jobs but people are now more at risk of losing them. This blunt fact is likely to hold off the Fed from increasing rates in June.”