Posted on Nov 5, 2022
U.S. hiring cooled slightly in October. That could help to ease inflation
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https://www.npr.org/2022/11/04/ [login to see] /job-jobs-employment-unemployment-rate-growth-october-inflation
The U.S. job market is still tight, but perhaps not quite as tight as it has been.
A report from the Labor Department Friday shows that employers added 261,000 jobs in October, compared to a revised 315,000 jobs the month before. Analysts say a decline in job growth is not surprising, since employers have already replaced all of the 22 million jobs that were lost during the pandemic.
The U.S. job market is still tight, but perhaps not quite as tight as it has been.
A report from the Labor Department Friday shows that employers added 261,000 jobs in October, compared to a revised 315,000 jobs the month before. Analysts say a decline in job growth is not surprising, since employers have already replaced all of the 22 million jobs that were lost during the pandemic.
U.S. hiring cooled slightly in October. That could help to ease inflation
Posted from npr.org
Jobs
Employment
Economics
U.S. Department of Labor
Posted >1 y ago
Responses: 3
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PO1 William "Chip" Nagel
..."Companies experiencing a drop in customer demand may be slower to fill job vacancies or to replace workers who quit. But layoffs are still rare. Weekly claims for unemployment benefits, which tend to track with layoffs, remain at historically low levels.
After struggling for two-and-a-half years to find enough workers, many employers may be reluctant to let anyone go, even when business declines.
"I have a sense from talking to some CEOs that they are hanging on to people," said Esther George, president of the Federal Reserve Bank of Kansas City. "And their argument is, it is so hard to re-hire — [after] the experience we've had — that we'll be inclined to hang on to some of these positions. We will wait as a last resort, really, [before] releasing people."
Employers may be hoping that any downturn will be brief, and they don't want to be short-staffed when business picks up again."
..."Companies experiencing a drop in customer demand may be slower to fill job vacancies or to replace workers who quit. But layoffs are still rare. Weekly claims for unemployment benefits, which tend to track with layoffs, remain at historically low levels.
After struggling for two-and-a-half years to find enough workers, many employers may be reluctant to let anyone go, even when business declines.
"I have a sense from talking to some CEOs that they are hanging on to people," said Esther George, president of the Federal Reserve Bank of Kansas City. "And their argument is, it is so hard to re-hire — [after] the experience we've had — that we'll be inclined to hang on to some of these positions. We will wait as a last resort, really, [before] releasing people."
Employers may be hoping that any downturn will be brief, and they don't want to be short-staffed when business picks up again."
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PO1 William "Chip" Nagel good day Brother William, always informational and of the most interesting. Thanks for sharing, have a blessed day!
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