Da US Job Market: Chillin’ But Still Rollin’! 🐢💼
⬇️ Pidgin | ⬇️ ⬇️ English
Ho, da US job market stay easing up a little, cuz. In August, employers wen’ throw out 187,000 new gigs, but unemployment wen’ go up small kine to 3.8%. Seems like da big rush from aftah da COVID lockdown stay slow down. 🛑🦠
It’s all starting fo’ look like da time befo’ COVID, yeah? The Federal Reserve wen’ raise their interest rates, so investments stay more cold. Plus, those businesses dat wen’ soar during da pandemic times, now dey’re coming back down to reality. And da local workers? Dem guys not switching jobs as much. They stay more chill now. 🏢📉
Even though 187,000 jobs got added, when you take a look back at da last three months, da average stay ’round 150,000. That’s not as nuff as da 29 months befo’ when had 200,000 jobs popping up every time. And people stay wondering – the job market going get even more cold? Wit’ loans costing more and peeps maybe not spending? ❄️💸
Da good thing is, it’s looking kinda like da old times when workers had more choices. “More stability means more peeps wanna work, and they feel they can stay long time,” said Dr. Bloesch, one economics kumu from Cornell University. 🎓📚
Some businesses, like da trucking one, had a wild ride during da pandemic. They were booming cause everybody wen’ order stuff online, but now it’s slowing. Last month, 37,000 jobs got lost cause this trucking company, Yellow, went belly up. And not all those truckers found new jobs right away. 🚛🚫
It’s not just da truckers though. Overall, employers no need that much new workers now. They hiring less, and they don’t need extra short-term help. So, the guys who been there long time working more regular hours, and not that much overtime. That’s what one restaurant owner in Chicago, Mr. Vaughan, wen’ notice. He said, lately he’s getting more people looking fo’ jobs, even those who supposed to start their big-city law jobs. But with student loans coming back, he tink maybe less peeps going out. He said, “Peeps now need make sure they show up and earn, cause times are getting tight.” 🍻🎓
Some industries still stay hiring though. Like those in health and education. They been hiring plenty in da last three months. Lotta women and immigrants work dea, and they’ve been joining the workforce more than expected. But, even that going come to one point where no can hire any more. So, what’s next? 🏥📚
Construction stay kinda steady. Even if building homes and offices wen’ slow down, other kine projects coming up, like building roads, bridges, and all that. The demand for cement, which is like one early sign for how much construction work going happen, wen’ drop by 2% this year. But the main economist guy for da Portland Cement Association, Mr. Sullivan, says things might turn around, especially with the government planning fo’ spend on all these big infrastructure projects. He says, “The demand stay slow now, but can see it’s coming.” So, might be the construction jobs going pop off next. 🏗️🌉
No matter how, even though things are changing, the US job market still keeps rolling. And only time will tell where da tides will take us. So, us locals? We just gotta stay prepared, stay positive, and keep our ears open fo’ da next opportunity. 🌺🤙🏽
NOW IN ENGLISH
US Job Market: Slowing Down, But Not Out! 🐢💼
The US job market seems to be taking a breather. In August, there was an addition of 187,000 jobs, but the unemployment rate nudged up to 3.8%. It seems the rapid growth post-COVID lockdown is decelerating. 🛑🦠
Things are starting to resemble the pre-pandemic days. With the Federal Reserve hiking up their interest rates, investment enthusiasm has dampened. Plus, sectors that soared during the pandemic are now grounding. Workers too are more settled in their current roles and aren’t hopping jobs as frequently. 🏢📉
Even with the 187,000 jobs in August, the three-month average stands at about 150,000. This isn’t as robust as the 29 months prior, which boasted 200,000 jobs consistently. The question is – will the job market cool down further with increasing loan costs and potential consumer cutbacks? ❄️💸
On the upside, the job market seems to be heading towards an environment where workers have a wider array of options. “Stability leads to a larger pool of individuals willing to work, backed by the belief that they can retain their jobs,” shared Dr. Bloesch, an economics professor at Cornell University. 🎓📚
Certain sectors, like trucking, experienced a wild flux during the pandemic. The rise of online shopping boosted their business, but it’s witnessing a slowdown now. Last month, a staggering 37,000 jobs evaporated as the trucking company, Yellow, declared bankruptcy. And many of these truckers haven’t found alternate employment yet. 🚛🚫
It’s not limited to trucking either. Overall, the appetite for new hires among employers is waning. They’re recruiting less and are showing a reduced dependency on temporary help. Long-time employees are now working regular hours with less emphasis on overtime. This sentiment was echoed by Mr. Vaughan, a restaurant owner in Chicago. He observed an increase in job applicants recently, including some who were slated to start in law positions. With the resurgence of student loan payments, he anticipates fewer people dining out. However, he emphasized, “Employees are becoming more diligent about clocking in, understanding the need to earn amidst these tightening conditions.” 🍻🎓
However, some sectors continue to recruit. Health and education, for instance, have been on a hiring spree over the last three months. A significant number of these roles have been taken up by women and immigrants, who’ve been joining the workforce in surprisingly large numbers. But this trend too has a saturation point. What lies beyond? 🏥📚
Construction seems to remain resilient. Despite a slowdown in residential and office constructions, infrastructural projects like roads and bridges are on the rise. The demand for cement, a leading indicator for construction, dropped by 2% this year. But Mr. Sullivan from the Portland Cement Association believes this could change, especially with the government’s commitment to infrastructural development. He commented, “The demand might be subdued now, but there are indications of it picking up.” Hence, the construction industry might be the next to witness a job surge. 🏗️🌉
In summary, while the dynamics are shifting, the US job market remains resilient. The future remains uncertain, but opportunities are always around the corner. All we need to do is stay alert, remain optimistic, and be ready to seize them when they come our way. 🌺🤙🏽
