The growth rate of labor costs in the United States has dropped to 3.5%, easing inflationary pressures

According to Jin Ten reports, data from the U.S. Bureau of Labor Statistics shows that the annual increase in labor costs for the third quarter has slowed to 3.5%, the slowest growth rate in four years, with a quarterly increase of 0.8%. This data indicates a continued cooling in the job market, which helps alleviate inflationary pressures. Many employers are slowing down their hiring pace, and some companies have begun layoffs, reflecting a weakening confidence among workers regarding job-hopping prospects.