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Economics

US Labor Market to Show Emerging Dichotomy of Tightness, Risks

  • Hiring in leisure seen holding up in shift to services
  • Higher rates, growth concerns may restrain select industries
An employee at a movie theater in Los Angeles. 

An employee at a movie theater in Los Angeles. 

Photographer: Patrick T. Fallon/Bloomberg
Updated on

The likely moderation of US job growth in coming months will reflect a combination of hiring challenges in a remarkably tight labor market, shifts in spending patterns and outright soft spots within a handful of industries.

Some sectors, like travel and entertainment, are expected to make up a large share of aggregate payrolls growth as Americans allocate more of their discretionary income to services.