Mark Hamrick
Coverage of Mark Hamrick in the Nexus archive.
- The economy keeps adding jobs. Many job seekers still feel stuck.
The US job market shows revived strength with robust job growth, but challenges like inflation outpacing wages and rising long-term unemployment persist. Major tech layoffs are a small part of the broader job market, which is seeing growth across sectors like leisure, hospitality, and healthcare.
- Inflation surpassed 4% for the first time since 2023
The U.S. annual inflation rate rose to 4.2% in May, the highest since April 2023, with energy prices surging 23.5% year-over-year. Inflation outpaced wage growth for the second consecutive month, leading to declining real earnings and financial strain on middle-income households. Experts attribute persistent inflation to supply chain disruptions in the Middle East and note a 'bifurcated' consumer spending pattern across income groups.