TechFlame reports that on November 20, according to Jinshi Data, the wave of layoffs in the United States has not shown a concerning acceleration: initial jobless claims for the week ending October 18 stood at 232,000, remaining largely consistent with September levels. "I would only start worrying about the entire job market if initial jobless claims reached the 300,000 to 400,000 range and stayed above that level," said Oren Klachkin, an economist at Nationwide Financial Markets. Klachkin and other economists believe a recession is unlikely in the near term. "To use an analogy, the current labor market is like being in the final stretch of a marathon," Klachkin explained. "After the pandemic, we experienced a strong rebound in job growth, and now we're entering the closing phase of this so-called race—the job market is showing signs of fatigue, with growth slowing down. Given the current stage of the economic cycle, there are indeed potential risks." Although there is a risk of the labor market collapsing, it is more likely to struggle across the finish line and regain momentum early next year, supported by clarity on tariff policies and fiscal stimulus from tax and spending bills. Klachkin noted: "Based on corporate earnings reports from the third quarter, the U.S. business community is essentially signaling relative optimism about the economy continuing into next year."