Job market is humming, but layoffs are still happening in a shifting economic environment
FILE - The logo for live-streaming video platform Twitch is seen on Nov. 4, 2017, at the Paris games week in Paris, France. Twitch is laying off more than 500 employees, Wednesday, Jan. 10, 2024, as the company looks to get to a more appropriate size, according to the streaming platform's CEO Dan Clancy. (AP Photo/Christophe Ena, File)
The U.S. economy is humming and there are hundreds of thousands of jobs being added every month. In a stunning burst of hiring to start the year, the nation added 353,000 jobs in January, shrugging off the highest interest rates in two decades that have been put in place by the U.S. Federal Reserve in part to cool off hiring and spending.
The unemployment rate is hovering at 3.7%, just above a half-century low.
At the same time, layoffs continue to arrive across almost every sector in 2024 as companies adjust to a shifting economy, including Monday.
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