The job market is 'softening' but still causing headaches for employers - Jacksonville Business Journal

North Dakota’s oil and energy boom has kept the state’s economic outlook bright — but it also has the tightest labor market in the country.

“So much of what is driving the economy is hyperlocal right now,” said Gusto Economist Luke Pardue. “For North Dakota, it's drilling or fracking. Delaware is being driven by professional services and financial services. It speaks a lot to the different areas that are better or worse prepared for a potential economic downturn.”"I would still call it incredibly tight compared to historic standards," he said.

Pardue stressed a state having the tightest labor market did not translate into having the best economy. Some states had tight hiring markets because economic growth outpaced their population growth. In other cases, an exodus of people meant there were simply not enough workers, which is bad for the economy.

But while a state’s economy might not be a big predictor of labor market tightness, that tightness, no matter the cause, does mean business owners will have a harder time hiring and will continue to deal with some tricky questions on pay. Idaho saw wage growth year over year of 9.1%, while Illinois saw just 1%, according to data from Gusto.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

What to expect at this year's Donna Marathon Weekend in Jacksonville - Jacksonville Business JournalOrganizers are expecting the number of participants to reach close to pre-pandemic levels.
Источник: JaxBizJournal - 🏆 599. / 51 Прочитайте больше »

Jacksonville airport 2022 - Jacksonville Business JournalJIA saw its second highest year on record in 2022, see what led to the busy skies and what the airport expects for 2023.
Источник: JaxBizJournal - 🏆 599. / 51 Прочитайте больше »

Rhone opens at St. Johns Town Center - Jacksonville Business JournalMen’s lifestyle brand store is first in the Jacksonville area.
Источник: JaxBizJournal - 🏆 599. / 51 Прочитайте больше »

How commuting factors into the work-from-home debate - Jacksonville Business JournalMany companies are pressing employees to return to the office, but potentially missing out on talent isn't the only hidden cost.
Источник: JaxBizJournal - 🏆 599. / 51 Прочитайте больше »

North Florida Land Trust names Allison DeFoor new president - Jacksonville Business JournalDeFoor had served as interim president of the land conservation organization since August 2022.
Источник: JaxBizJournal - 🏆 599. / 51 Прочитайте больше »

Retired Wells Fargo economist Mark Vitner launches Piedmont Crescent Capital - Jacksonville Business JournalAfter recently retiring from his decades-long career as a renowned economic tracker for Wells Fargo & Co., Mark Vitner has taken his passion for analyzing the industry to a more boutique level.
Источник: JaxBizJournal - 🏆 599. / 51 Прочитайте больше »