Story perspectives

Jobless Expansion: US Economy Grows Amid Hiring Slowdown

11/23/2025

Summary

Story summary

Hiring slows despite strong productivity and GDP growth, creating a paradox for US economy.
Uncertainty over U.S. President Donald Trump's policies weighs on business investment, contributing to job losses in June and August.
The average job gain was 62,000 from July to September, while AI investments boost output without boosting hiring.
Federal Reserve officials call this a "jobless expansion," complicating policy and raising recession risks if the labor market weakens.

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Story summary

Hiring slows despite strong productivity and GDP growth, creating a paradox for US economy.
Uncertainty over U.S. President Donald Trump's policies weighs on business investment, contributing to job losses in June and August.
The average job gain was 62,000 from July to September, while AI investments boost output without boosting hiring.
Federal Reserve officials call this a "jobless expansion," complicating policy and raising recession risks if the labor market weakens.