
Why Are 92% of Employers Fighting Over the Same People?
Nobody's Hiring. Nobody's Firing. That is today’s labor market. New unemployment claims hit 197,000 in late September — their lowest level since 1969. Layoffs, per Challenger, Gray & Christmas, fell 18% month over month. Meanwhile, September payrolls grew by just 29,000, a number that missed even the most pessimistic forecast. Employers are holding onto workers with both hands. They just aren't adding them. The Federal Reserve Bank of Cleveland calls this the "low-hire, low-fire" labor market — historically low separations paired with historically lukewarm hiring. The Richmond Fed maps it even





