Hiring at lowest rate since pandemic

(CNN)– Now is a terrible time to be looking for a job.

Labor data shows businesses are adding workers at the slowest pace in 15 years, if you don’t count the pandemic.

Hires as a percentage of total employment dropped to 3.1% at the end of last month.

And, that number was before the conflict in Iran started.

Layoffs have stayed relatively stable.

Voluntary quits have dropped to their lowest level since 2020, which indicates workers lack confidence they’ll be able to find new jobs.