According to data released by the US Department of Labor on the 10th, in the third quarter of this year, the employment cost index, which reflects the cost of hiring labor for enterprises, rose 0.8% month-on-month. The increase was slower than in the second quarter, indicating that labor demand in the US job market weakened and workers' income grew slowly. The data shows that in the 12 months to the end of September, the index rose 3.5% year on year, the smallest year-on-year increase since the second quarter of 2021. Analysts pointed out that US companies and other employers are generally slowing down the pace of recruitment, and some companies have already begun layoffs.

According to data released by the US Department of Labor on the 10th, in the third quarter of this year, the employment cost index, which reflects the cost of hiring labor for enterprises, rose 0.8% month-on-month. The increase was slower than in the second quarter, indicating that labor demand in the US job market weakened and workers' income grew slowly. The data shows that in the 12 months to the end of September, the index rose 3.5% year on year, the smallest year-on-year increase since the second quarter of 2021. Analysts pointed out that US companies and other employers are generally slowing down the pace of recruitment, and some companies have already begun layoffs.