Job creation by U.S. companies has nearly flatlined since this spring, with most employers only hiring to replace departing staff members, or leaving those positions vacant. The bad news for people looking for work is that this trend may be gaining momentum as many businesses decide they can continue growing while either maintaining or cutting current headcounts.
That thinking contrasts the conventional wisdom often cited to explain why hiring rates have fallen to a measly monthly average of 26,750 new jobs filled since May. Many analysts said that hesitation to recruit was based in large part on uncertainties employers faced about future economic growth. Other experts pointed to the still evolving effects that import tariffs, mass deportations and relatively robust inflation are having on businesses.
Another reason cited was the spreading effort by companies in adopting artificial intelligence (AI) to automate tasks that many employees previously performed. That move has provoked thousands of layoffs, while also fully taking over many entry-level positions that younger job seekers have habitually relied on.
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