The 'new normal' may be here for the job market — and it could be painful for employers - Silicon Valley Business Journal

  • 📰 svbizjournal
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 59%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Some experts believe the job market has reached its 'new normal' — and it could be challenging for employers

After another month marked by thousands of layoffs, continued recession fears and companies tightening their belts, job openings remained resilient.job openings actually increased from 10.44 million at the end of November to about 11 million

"The labor market is continuing to show its historic resiliency in the face of all the conjecture about a possible recession. 10 to 11 million job openings in the U.S. [have] become the new normal,” said Richard Wahlquist, president of the American Staffing Association. "Once again, there are nearly two job openings for every unemployed person."

The quit rate once again held steady at 2.7%, while layoff rates inched up to 1% from 0.9%, even after of thousands of layoffs in the technology and financial sectors. While there have been high-profile tech layoffs, other industries saw a huge surge in demand, including an increase of 409,000 job openings in food services and accommodations. The information sector did show a decline of 107,000 job openings, reflecting upheaval in the tech sector.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 334. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Open AI Chat GPT tips for small-business owners - Silicon Valley Business JournalAs more business owners explore the potential of ChatGPT, they see a mix of risks and rewards. Here are some best practices experts say businesses need to keep in mind.
Source: svbizjournal - 🏆 334. / 59 Read more »

Silicon Valley Power 100:Silicon Valley Power 100: Robson Homes CEO Mark Robson to Bloom Energy CEO KR Sridhar - Silicon Valley Business JournalLearn more about who made the Power 100 list. Among the list makers in this story: Erica Rogers, CEO and president of Silk Road Medical.
Source: svbizjournal - 🏆 334. / 59 Read more »

Three questions for ServiceNow president Chirantan Desai - Silicon Valley Business JournalThe Business Journal had a chance to talk with new ServiceNow president Chirantan Desai. Here are five key questions about his new role, the company and Silicon Valley.
Source: svbizjournal - 🏆 334. / 59 Read more »

Job market statistics show a sobering reality for employers - Silicon Valley Business JournalLabor shortages. Soaring salary offers. High turnover. It's a tough time to be a hiring manager, and new statistics illustrate why the problems are likely to get worse before they get better.
Source: svbizjournal - 🏆 334. / 59 Read more »

Silicon Valley Power 100: Flex CEO Revathi Advaithi to Mayfield Fund Managing Director Navin Chaddha - Silicon Valley Business JournalLearn more about who made the Power 100 list. Among the list makers in this story include San Jose Mineta International Airport Director of Aviation John Aitken and Second Harvest of Silicon Valley CEO Leslie Bacho.
Source: svbizjournal - 🏆 334. / 59 Read more »

Silicon Valley Power 100: Cloudinary CEO Itai Lahan to Momentive Global CEO Zander Lurie - Silicon Valley Business JournalLearn more about who made the Power 100 list. Among the list makers in this story: Meta Platforms' Chief Business Officer Marne Levine and Box Inc. CEO Aaron Levie.
Source: svbizjournal - 🏆 334. / 59 Read more »