The US Labor Market Confounds with its Countercurrents. It May Be the New Normal Labor Market

On one side, there are the tech layoff announcements, often to clean up what tech CEOs widely called “over-hiring” to describe what they’d done in 2020-2022, when their payrolls exploded; Block CEO Jack Dorsey was the latest on X, “yes we over-hired during covid…,” after Block announced that it would lay off nearly half...