Mystery Economic Theater: U.S. jobs market looks great, but layoffs at Google, Amazon and other big firms tell a different story

by | Feb 11, 2023 | Stock Market

A revved-up U.S. jobs market seems as strong as ever, but a look under the hood suggests some engine trouble might be developing. The U.S. added a whopping 517,000 news jobs in January to mark the biggest gain since last summer, the government said last week. Unemployment also slipped to a 54-year low of 3.4%.

What’s more, new filings for unemployment benefits recently fell close to historic lows even as a growing hoard of well-known companies such as Dell
and Amazon
announced major layoffs. Too good to be true? Some economists think so. Take the …

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