How bad is America's jobs market? Layoffs and firings are at the lowest levels on record — yet the country still isn't adding enough jobs to keep up with population growth.
During the Great Recession, employers slashed millions of jobs. During the economic recovery, net job growth has been tepid. But the problem is no longer layoffs. They've been trending lower for years. In July, layoffs and other forced separations fell to 1.554 million, according to the Job Openings and Labor Turnover Survey (JOLTS). That's down from 1.761 million in June and 1.956 million in May and the lowest on records hailing back to December 2000.
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