For the past two years, companies were desperate for workers, raising wages and offering various work-related concessions. Now that the labor market has begun to rebalance, employers are regaining power in their dealings with employees, the Financial Times reported.
The economic slowdown is for all to see. Holiday sales are weaker than expected, job openings are dropping and as the data shows, firings are increasing. Welcome to week 64 of the job loss trend.
Everything is just fine, just ask the gamblers on The Street. Forget about how Inflation and interest rate hikes caused, and are still causing companies in many sectors to lay off employees.
U.S. GDP grew at an annual rate of 4.9 percent in this year’s third quarter, the commerce department reported.