US Employment Conditions on Labor Day 2025–What to Know

The national labor market has remained resilient over the past year, serving as a constant in an otherwise uncertain economic climate.
Employers and workers have navigated numerous developments since Labor Day last year—from the 2024 presidential election to President Donald Trump’s global tariffs.
Here’s the status of employment conditions over the past 12 months.
US Labor Market–Then and Now
Wall Street was in a state of panic heading into the Labor Day long weekend in 2024, as the uptick in the unemployment rate triggered the Sahm Rule.
The Sahm Rule is a recession indicator developed by Claudia Sahm, a former economist at the Federal Reserve. When the three-month moving average of the jobless rate rises by 0.5 percentage points from its low over the preceding 12 months, it signals that the United States could be in the early stages of a recession….

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