Federal Reserve Chair Jerome Powell warns that a slowdown in hiring poses a serious risk to the U.S. economy. With expectations of continued monetary support, Powell indicates that additional rate cuts may be necessary to sustain growth and protect the central bank’s policy goals.

A recent jobs report reveals a 78,000 drop in manufacturing positions so far this year, which has prompted CNBC’s Jim Cramer to question why hiring remains slow. Despite billions in corporate investment, Cramer highlights a mounting unease among CEOs about expanding their workforce.

Worker confidence in finding a job has dropped to unprecedented levels, with employers in nearly every industry scaling back hiring. As a recent jobs report signals further slowdowns, many job seekers are left wondering how long this challenging environment will last.