AXIOS (Courtenay Brown) - The labor market is finally stabilizing, data shows
New private sector data shows signs of life for a labor market that's stabilizing after a dismal year for hiring. Why it matters: It's a welcome development in an economy digesting global trade uncertainty, fast-moving AI technological advancements and a new geopolitical shock. - Yet just two sectors are carrying the entire labor market, making hiring more fragile than the headline numbers suggest. What they're saying: "In our data, job market growth is gaining traction. In employment terms, February's numbers show real forward momentum," David Tinsley, a senior economist at the Bank of America Institute, told reporters Wednesday morning. - In a separate call, ADP chief economist Nela Richardson said private sector job gains had been…
New private sector data shows signs of life for a labor market that's stabilizing after a dismal year for hiring. Why it matters: It's a welcome development in an economy digesting global trade uncertainty, fast-moving AI technological advancements and a new geopolitical shock. - Yet just two sectors are carrying the entire labor market, making hiring more fragile than the headline numbers suggest. What they're saying: "In our data, job market growth is gaining traction. In employment terms, February's numbers show real forward momentum," David Tinsley, a senior economist at the Bank of America Institute, told reporters Wednesday morning. - In a separate call, ADP chief economist Nela Richardson said private sector job gains had been…Open