Interest Rate Cut Signals Tough Job Market

The United States’ job market is slowing as businesses added 22,000 jobs last month.

The hiring pace over the summer months was much slower than expected, especially for the nation’s younger, college-educated workers.

Technology may be a key factor in the slowdown for recent college graduates. Entry-level workers at corporations are likely to be replaced.

While Wall Street analysts have not projected layoffs, they see the political and economic climate as one where companies will be more cautious in hiring.

As the Federal Reserve cut rates this week by 25 basis points, something that the Trump administration has been yearning for, the main reason given was potential risk to the job market.