The unemployment rate fell to 3.4%, the lowest figure since 1969, amid high-profile layoffs at companies like Amazon, Microsoft, Twitter and Goldman Sachs.
"The baby boomer retirement has put a lot of strain on the labor market," said Sederberg of Lightcast. "I'm not worried about layoffs."
Despite strong hiring in January, there was no change in the labor force participation rate, a measure of the share of working age adults in the workforce or seeking work, suggesting many Americans remain on the sidelines.there remains a path for bringing inflation down to normal levels without causing a significant rise in unemployment.
In other words, Powell reiterated the possibility of a soft landing, in which the Fed slows the economy and brings down inflation while preventing the U.S. from entering a recession and causing a spike in unemployment. The jobs report released on Friday suggests the potential for an even more optimistic outcome, Pollak said.
"Now we're seeing something even more improbable than that soft landing," she said. "The best case scenario is rather than a small increase in unemployment, we actually see falling unemployment."
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