American employers slashed 23,000 jobs last month — a shocking reversal after months of revised downward gains and far below economists’ expectations. Wage growth is slowing, hiring is cautious, and workers are feeling the squeeze: fewer opportunities, less bargaining power, and a tougher job market. Analysts warn the labor landscape is now defined by low hiring, low firing, and low confidence. Over the past year, only 320,000 jobs have been added — the slowest pace in a decade — while inflation outpaces pay raises, squeezing household budgets. The unemployment drop? Mostly due to people dropping out of the workforce, not finding new gigs.
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