"Unveiling the Paradox: Navigating Worker Sentiment in a 'Positive' Labor Market"

Despite positive labor market data, many workers and job seekers are struggling due to uneven recovery across different cities and states, with some areas still experiencing elevated unemployment and increased cost of living. Job openings have decreased, layoffs and hires are at low levels, and companies are not adding staff in great numbers. The disconnect between worker sentiment and broader job market data is attributed to geographical variations and recent economic improvements that have yet to be reflected in worker sentiment. There is a risk of over-cooling in the national labor data, and key indicators such as quits and hires have deteriorated from 2019 levels.