Marketplace All-in-One The job market keeps flashing warning signs
Nov 5, 2025
Samantha Fields, a Marketplace reporter, shares valuable insights into current labor market trends during the government shutdown. She discusses the paradox of slow hiring alongside few layoffs, highlighting disparities between small businesses and larger firms. Meanwhile, journalist Michael Grunwald dives into the environmental impact of beef production, raising thought-provoking questions about land use and sustainability in agriculture. Their dynamic conversation touches on the future of job growth and the challenges facing first-time homebuyers.
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Labor Market Stalled, Not Collapsed
- Multiple private data sources show the U.S. labor market is stalled but not collapsing.
- Hiring is slow, with small firms losing jobs while large firms add them, raising downside risks.
Small Firms Squeezed While Big Firms Hire
- ADP data show small businesses lost 88,000 jobs since July while large firms added 151,000.
- That divergence makes small-business weakness the most concerning signal in recent reports.
Job Market Favors Incumbents
- Jobseekers and first-time entrants face particular difficulty finding work right now.
- The market favors incumbent employees, making entry and reentry precarious.