Meanwhile, the U.S. posted a near-record 10.6 million job openings.
jobs report for November, when the United States added less than half of the jobs economists expected. The"weaker-than-expected jobs report adds to the fear we’ve seen with the omicron variant, and it may stoke fears of stagflation, which consists of slower economic growth and higher inflation,” says Jay Pestrichelli, the CEO of Florida-based investment firm Zega Financial.
The delta variant-spurred wave of Covid-19 infections set a cautionary precedent earlier this year, fueling struggles that culminated with the job market’sThough jobs are “abundant,” analysts at Goldman Sachs have lowered their projections for labor force participation to just 62.1% by the end of the year—meaning the number of people working or looking for work should remain at 45-year lows.
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