“The labor market is definitely cooling down. But at the same time, it’s still very hot. So we’re just going from white hot to red hot,” said Daniel Zhao, lead economist at Glassdoor.
“Depending on what goes on with the consumer, if they do shift more of their spending to those necessities, there may be less dollars spent for some of those discretionary apparel or other items which may impact the retail landscape,” said Scott Blumsack, chief strategy officer at Monster. “Even though employer demand for more workers is cooling down, what we’re seeing is that employers are very hesitant to lay off the workers that they’ve spent the last year desperately trying to hire and retain,” Zhao said.
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