May 2023 / VIDEO
Is the Employment Picture Turning?
The US labor market faces headwinds amid tighter credit conditions for small businesses and declining corporate profit margins.
The US labour market faces headwinds amid tighter credit conditions for small businesses—which account for a very large share of the US employment market—and declining corporate profit margins. We are closely monitoring forward-looking employment indicators, as historical data show that a persistent uptick in unemployment can be difficult to reverse.
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Tim Murray is a capital market strategist in the Multi-Asset Division. Tim is a vice president of T. Rowe Price Associates, Inc.