Job market Is collapsing:

It's official. The job market is cooked. This last month we lost 23,000 jobs. Economists were thinking we were gonna add 83,000 jobs. Instead we lost 23,000 jobs. That's 100,000 difference. What's even more concerning, the labor participation rate, which is people who are actually applying for jobs, is at a five year low. That is lower than around the pandemic. That means more people are giving up looking for work because it's so tough and they are just dropping out of the labor force completely. May and June's numbers were also revised by over 100,000. And what this means is that companies are actually shedding employees and they are not hiring them back. Which means if you get laid off right now and you get onto the job market, there is less hiring going on. Which is not good news. Really? The only two areas that are adding jobs are healthcare and education. So it has nothing to do with corporate work, but that's where all the jobs are being added. And in this article they're calling it a bright spot. But for anyone that's looking for corporate jobs, this type of headline is not very encouraging. I really don't see this getting much better before the end of the year. Although companies are still hiring, they are not hiring at the same rate. And I'm seeing hiring managers be extremely picky with who they bring on board. And more companies are looking to gain efficiencies with AI and automation, which means more people are getting laid off.