The Job Market Is Still ‘Red Hot' Despite Recession Fears, as the Great Resignation Continues

Russia Says the West Risks the ‘Wrath' of God If It Punishes Moscow Over the War; Heavy Weapons Start to Have an Impact

Additionally, workers have been quitting their jobs at a near record pace. About 4.3 million people voluntarily left their jobs in May, about the same as in the previous month and down only slightly from their peak of more than 4.4 million in March. Before the pandemic, 1.1% was the country's lowest layoff rate. But May marked the 15th straight month in which layoffs were below that pre-pandemic record — an indication that employers are holding on to their existing workers, Bunker said.

The Federal Reserve is raising borrowing costs for consumers and businesses in a bid to slow the economy and tame stubbornly high inflation. What's more, the latest inflation reading came in hotter than expected, and the latest retail sales data was weaker than anticipated, Glassdoor's Zhao said.

Once COVID dropped off, employers naturally started hiring again.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Dollar soars as recession fears finally hit the round-the-clock currency marketAfter more than a month of evaluation, the currency market sees recession turning into “global phenomenon,” said Tom Nakamura of AGF Investments in Toronto.
Source: MarketWatch - 🏆 3. / 97 Read more »

USD/CHF struggles to justify options market optimism below 0.9700USD/CHF retreats from a 12-day high, snapping a three-day uptrend, as markets consolidate the previous day’s heavy volatility amid the recession fears
Source: FXStreetNews - 🏆 14. / 72 Read more »