Job Market Realignment

This chapter investigates the extensive downward revisions in job creation figures from Spring 2023 to Spring 2024, uncovering a discrepancy of over 818,000 jobs. It discusses the shifting dynamics within the labor market, highlighting a transition from worker empowerment to employer dominance, along with the increasing pessimism regarding job security among Americans. The chapter also touches on potential future shifts in hiring patterns as economic conditions evolve.