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U.S. Job Market Cools Amid Rising Recession Fears

3/18/2025

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Summary

Story summary

The U.S. job market is cooling, with wage growth for job-switchers dropping to 4.8% in early 2023.
Employers added 151,000 jobs in February, marking the highest job cuts for that month since 2009.
The unemployment rate increased slightly to 4.1%, while 8.9 million Americans hold multiple jobs.
Economic uncertainty and tariff policies contribute to rising recession concerns, with experts estimating a 50% chance of recession.

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Story summary

The U.S. job market is cooling, with wage growth for job-switchers dropping to 4.8% in early 2023.
Employers added 151,000 jobs in February, marking the highest job cuts for that month since 2009.
The unemployment rate increased slightly to 4.1%, while 8.9 million Americans hold multiple jobs.
Economic uncertainty and tariff policies contribute to rising recession concerns, with experts estimating a 50% chance of recession.