Quotes from the news wire:
I think the image, for me, that most sums up where we are in the labor market is [the chart in this tweet] by Bloomberg’s chief economist [Michael McDonough], which shows that mentions of job cuts are now higher than mentions of labor shortages in earnings calls, that’s a big reversal after 2021 and 2022 were very much the years of the labor shortage and everyone was talking about how they were struggling to find workers.
Found on CNN 1 year ago
Tech layoffs aren’t only being offset by strength elsewhere in the economy, they’re not even showing up in the tech-related data.
Found on CNN 1 year ago
The large increase to 1.7 million [in January] brings them closer to the pre-pandemic average of 1.9 million and suggests that the period of unprecedented job security for American workers is coming to a close.
Found on CNN 1 year ago
We do expect that, at some point, JOLTS data will track what we’re seeing in online job postings, which have fallen around 28% since the Fed began its supersized interest rate hikes in June.
Found on CNN 1 year ago
The recent decline in temp staffing is mostly the result of a healthy recovery in full-time, in-house hiring, but if it falls much below 3 million, I think that would be a warning sign as well.
Found on CNN 1 year ago
Typically, in good times, the workweek tends to be somewhere between 34.3 and 34.6 hours on average, and somehow it’s slowed all the way down to the bottom end of that range, if it continues to deteriorate, that would suggest weakening demand for labor.
Found on CNN 1 year ago
The preponderance of evidence suggests that the labor market is still nowhere near back to normal.
Found on CNN 1 year ago
I think it’s mostly just pre-pandemic recovery, leisure and hospitality is still short hundreds of thousands of workers and just still ramping up, because spending recovered more quickly than staffing.
Found on CNN 1 year ago
The Great Resignation is far from over — quits surged in November, to 4.2 million, they have now been above 4 million for 18 straight months, after coming in at 3.4 million before the pandemic and averaging 2.6 million in the prior years.
Found on CNN 1 year ago
This is a massive surprise to the upside, we've seen all these headlines about layoffs and probably just experiences with inflation have a chilling effect on job seekers in recent months.
Found on CNN 2 years ago
We've seen all these headlines about layoffs and probably just experiences with inflation have a chilling effect on job seekers in recent months, and yet we see in this report that businesses appear to be hiring in full force.
Found on CNN 2 years ago
This may be another one of those things that the minute there is some slack in the labor market, and companies see their revenue fall, there will be a conversion back to what we've seen before.
Found on CNN 2 years ago
People typically hold multiple jobs when they have the opportunity to do so, rather than when they need to do so.
Found on CNN 2 years ago
That can work if there's a constant supply of new job candidates, but some companies have exhausted the supply of available workers they can hire, so that's not a feasible model.
Found on CNN 2 years ago
There are all kinds of productivity benefits from using more full-time workers, it has huge retention benefits. Many companies realize [ one way ] their hiring problems are over is if their retention problems are fixed.
Found on CNN 2 years ago
Make sure Marlo Lyons materials... are very computer readable -- they don't have fancy tables and have crazy formatting, a lot of people make mistakes by being too fancy and they stop themselves from getting through the first hoop because they don't write a resume that is readable by robots.
Found on CNN 2 years ago
Timing is everything, if you apply in the first week that a job is posted, you have a much higher chance of getting that job. Many hiring managers and companies only look at applications that come in during the first week.
Found on CNN 2 years ago
When you apply to 10 jobs and you get rejected from all of them, you feel as though it's your own failing and it's a reflection on you, it can harm people's confidence and self-esteem much worse than failures in other markets because what you are pitching is your labor and time and care.
Found on CNN 2 years ago
A tightening labor market does appear to have caused more companies to disclose pay rates.
Found on CNN 2 years ago
You can have a company that is very openly, publicly committed to pay transparency, but if they really want a candidate who requires more to take the job than they initially offer, they can find ways to make that posted salary range still hold, companies can find all kinds of creative ways to get around these requirements.
Found on CNN 2 years ago
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