Last year was a slog for the U.S. labor market.
Companies throttled back hiring. The U.S. government shed over a quarter million jobs. Uncertainty over President Trump’s tariff policies kept many companies from taking on new workers. Others decided they would first like to wait and see how artificial intelligence will allow them to do more with fewer people. High-profile layoff announcements spooked workers, who decided to stay with the jobs they have—leaving less room for new workers to get a foothold.
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