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A host of alternative jobs data from Wall Street are pointing in the same direction: The U.S. labor market is losing steam. These numbers are getting more attention while the federal government shutdown keeps the lights off at the Bureau of Labor Statistics, delaying new data in an unsettled time for the jobs market.
“The employment numbers have clearly deteriorated,” said Jake Oubina, senior economist at Piper Sandler. Profit margins are down because of tariffs, and that makes companies less likely to hire, he said.
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