Help Wanted! Indefinitely... The Labor Crisis No One Is Pricing In

The labor market isn’t cooling everywhere. Critical sectors are still struggling to hire, and the financial impact is bigger than most people realize.

Despite reports of a cooling labor market, the reality is more nuanced. Layoffs in the tech and finance sectors have made headlines, and overall job openings have declined from their 2022 peak. Wage growth has slowed from its post-pandemic highs, and labor force participation has inched up. However, these trends obscure persistent and structural labor s…