The Low-hire, Low-fire Economy

Federal Reserve Chair Jerome Powell said in early October that:   “You’ve got a low-firing, low-hiring environment.”  He goes on to say that if layoffs are seen, “That could very quickly flow into higher unemployment.”  The current jobless rate is at 4.3%, but there are a growing number of people unable to leave their jobs or are underemployed.  Further, employers may have been prolonging layoffs while trying to figure out which direction the economy is going. 

Also, the number of discouraged workers who have given up job searches or who have currently only been able to find part-time employment, climbed to the highest level in almost four years.  Thus, in today’s current economic environment you rarely hear the old words: “Take this job and shove it.”

This article is part of our November 2025 Newsletter. 

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