Business Survey Suggest Job Growth May Slow This Year
January 28, 2020
A recent survey on business conditions found an even split between U.S. businesses that intend to decrease employment and those that plan to increase. This is the first time that this has occurred in more than a decade, and may signal that the labor market has peaked and that job growth could begin to slow.
The National Association for Business Economics, who conducted the survey, notes that the pullback in hiring may be due to the difficulty in finding workers rather than slowing demand.
The survey follows data from the government that shows job openings falling significantly at the tail end of last year. November’s job openings fell by the largest amount in more than 4 years.