unemployment

That’s the prevailing view among Wall Street economists based on the limited amount of information available to them — most notably, the weekly tally of how many people applied for unemployment benefits in each state.

While the labor market is cooler than in early 2023, unemployment remains relatively low, and labor supply and demand look to be in balance, although both are weaker than in the past.

The latest monthly jobs report, published Sept. 5, showed that employers created 22,000 new jobs in August and that the unemployment rate ticked up to 4.3%.

Recent data has shown strong economic momentum, with falling unemployment and a sharp rise in lending for new housing.

Despite materially cooler hiring, the unemployment rate isn’t rising.