State of the U.S. Jobs Market

The U.S. jobs market shows overall strength, with private sector hiring averaging around 200,000 jobs per month over the last three months, particularly in consumer-facing industries like leisure, hospitality, and healthcare. However, this positivity is accompanied by sector-specific weaknesses, particularly in manufacturing and construction, raising concerns about the sustainability of the labor market. Analysts highlight the need to monitor these sectors carefully, especially as potential changes in tariffs could further impact jobs in goods production. Despite the current strength, there are apprehensions that the consumer's resilience may weaken, overshadowing the positive trends.