US labor market looks fine on paper but has frozen: hiring back at 2012 levels
randal_olson · x · 2026-10-04
Randal Olson flags that the US job market looks healthy on paper — 4.2% unemployment and low layoffs — but is effectively frozen: companies are hiring at 2012 levels, quits are scarce, and displaced workers stay unemployed longer. Meanwhile labor's share of output just hit a record low, a structural signal many read as AI-linked employment slowdown.
Related event: US Labor Market Looks Stable but Is Effectively Frozen(2 posts)→
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