THE NEW YORK TIMES – For about a year now, the labor market has existed in a state of eerie calm: Not many people were losing their jobs or quitting, but not many of those seeking work were getting job offers.
The mass layoffs now underway across the federal government, along with its employees who are voluntarily heading for the exits, could disrupt that uneasy equilibrium.
While unemployment is relatively low at 4 percent, those losing their positions could face a difficult time finding work, depending on how well their skills translate to a private sector that does not seem eager to hire.