Economic Cooling: Private Reports Signal Recession Risk

Private reports indicate a cooling labor market, with job creation declining and job openings at their lowest since 2021. ADP reports 42,000 jobs added in October, while Challenger, Gray and Christmas announces over 153,000 job cuts. Wage growth slows, and the unemployment rate may reach 4.4% in October. Despite economic challenges, the stock market performs well due to potential productivity gains from new technologies.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.