Recession-Fearing Bosses Scale Back Hiring Plans as 'Stealth Slowdown' Kicks In – Bloomberg

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Companies that have struggled to fill job openings in the US for long stretches are starting to ask a pressing question: Do we really need those roles?
With interest rates soaring, stocks tanking and fears of a recession mounting, employers are axing jobs or dialing back their once-breakneck hiring plans. Amazon.com Inc. and Walmart Inc., America’s two biggest private employers, have said they’re thinning out their hourly workforces through attrition. Jobless claims, while still low, have risen slightly, based on a four-week moving average that smooths out weekly volatility.

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