The labor market is cooling as higher interest rates curb demand. Job growth slowed in October and the unemployment rate climbed to 3.9%, the highest level since January 2022. With 1.5 job openings per every unemployed person in September, conditions remain fairly tight.
This settlement stands as the largest ever by the Justice Department in cases related to discrimination based on citizenship. The terms require Apple to pay $6.75 million in civil penalties and allocate $18.25 million to an unspecified number of affected workers.
The job growth in the US slowed by over expected and the unemployment rate increased to nearly two-year high of 3.9%, indicating that employers strong demand for workers is beginning to cool.