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Climbing the employment ladder tough when bottom rung is broken
Abstract: Recent labor market data appear to reflect a low-hire, low-fire equilibrium. Because aggregate layoffs remain low by historical standards, the upward drift in the unemployment rate over the past two years is often viewed as a benign normalization process rather than a cyclical vulnerability.
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https://www.dallasfed.org/research/economics/2026/0526
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Provider: Federal Reserve Bank of Dallas
Source: Dallas Fed Economics
Publication Date: 2026-05-26