Recently surveyed economists were split over their opinions on why there has been a recent slowdown in hiring, according to The Wall Street Journal.
Economists are unsure whether the cause of the recent slowdown in hiring can be attributed to a shortage of workers or a decreased labor demand. The uncertainty surrounding the hiring slowdown is a continued sign of uncertainty about what the future holds.
According to the Wall Street Journal survey, about 45.3 percent of economists blamed the slowdown on the tight labor market that has increased competition among employers to find workers. 37.7 percent of economists stated that the issue involved the desire to expand payrolls.
“Manufacturers have consistently cited an inability to find talent as a top concern, with some suggesting that a lack of sufficient workers has held back growth,” said economist Chad Moutray of the National Association of Manufacturers. “At the same time, hiring has weakened lately primarily due to global headwinds and ongoing trade uncertainties.”
Hiring has recently experienced a slowdown and economists are split over the cause.