As the U.S. labor market navigates through new economic realities, the unemployment rate has climbed to 4.3% in July, the highest level since early 2020. This increase coincides with the potential impacts of Hurricane Beryl, which struck Texas in early July. While the BLS employment situation summary reported ‘no discernible effect’ for July’s data, the...
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The U.S. labor market continues to pull back from its March 2022 peak, with the unemployment rate climbing above 4% for the first time since November 2021. This shift in labor market dynamics is part of the broader trend of supply and demand coming into better balance. As a result, Veritone Hire has seen our...
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The U.S. labor market is experiencing a notable shift, with a surplus of 1.6 million job openings over unemployed individuals, down significantly from the all-time peak of 6.2 million. With this gap continuing to narrow, Veritone Hire has seen a decrease in CPA by 8.4% and conversion rates increase by 8% through May. Understanding the...
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In the past week, the Consumer Price Index (CPI) indicated that inflation pressures remain persistent, challenging the earlier market anticipation of potential rate cuts. The CPI climbed 3.5% year over year compared to February’s 3.2% increase, moving farther away from the Federal Reserve’s 2% target rate. According to Jerome Powell, “More recent data shows solid...
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