The jobs report shows a market trying to balance itself amid falling consumer confidence and ongoing economic uncertaintyr\, according to Ger Doyle, US country manager for staffing firm ManpowerGroup. While the labor market remains resilient, job seekers face challenges, and signs of cooling indicate cautious employer behavior.
“This year, our real-time data shows that demand is down 6%,” Doyle said in a statement. “We’re also seeing month-over-month declines in areas tied to consumer confidence and goods production — particularly with retail managers, where demand has dropped 16% — and in wholesale and manufacturing, down 20%. These declines are noticeable and indicate that the pace of hiring has slowed.”
Employment by tech sector companies declined by a net 11,514 positions in February, with tech services and tech manufacturing accounting for most of the retreat. At the same time, tech employment across all industry sectors increased by an estimated 177,000 for February, according to CompTIA’s analysis.
