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Data suggests 'hiring recession' may be behind us — but the Iran war poses job market risks

CNBC · May 5, 2026, 8:10 PM · Also reported by 1 other source

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  • Federal labor market data issued Tuesday suggests the frozen U.S. job market may be starting to thaw — but the economic fallout from the Iran war threatens to stall that momentum, according to labor economists.
  • There are encouraging signs," Heather Long, chief economist at Navy Federal Credit Union, wrote in an e-mail.

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Federal labor market data issued Tuesday suggests the frozen U.S. job market may be starting to thaw — but the economic fallout from the Iran war threatens to stall that momentum, according to labor economists.

"Is the hiring recession finally over? There are encouraging signs," Heather Long, chief economist at Navy Federal Credit Union, wrote in an e-mail.

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