Welcome to the 'Great Freeze': Why companies aren't firing, workers can't grow, and the unemployed can't get jobs

Core Insights - The US job market is experiencing a "Great Freeze," characterized by low layoffs and low hiring, which has persisted for over a year [1][3][7] - Companies are hesitant to lay off employees due to solid growth and consumer spending, while also being reluctant to hire new talent amid economic uncertainties [2][5][6] Group 1: Job Market Conditions - The current labor market is marked by a significant drop in job openings and hires, indicating a stagnation in employment opportunities [1][3] - The term "Great Freeze" reflects the dual situation of low layoffs and low hiring, which may hinder career advancement for workers [3][7] Group 2: Economic Factors Influencing Hiring - Economic uncertainties, including tariffs and supply issues, are causing companies to retain existing talent rather than expand their workforce [2][6] - The slowdown in labor force growth is attributed to fewer workers entering the US, contributing to the overall hiring slowdown [6] Group 3: Expert Opinions - Economists suggest that the lack of large-scale layoffs is due to positive earnings and the absence of a clear catalyst for companies to reassess their workforce [5] - The outlook for the job market remains bleak, with no immediate signs of improvement as the year progresses [4]