Companies Now Hiring Faster Than Laying Off: A Favorite Recession Indicator Has Now Backtracked for Three Months

by Wolf Richter Wolf Street

But the layoff announcements in the media scared workers into surrendering some of their newly found power.

There is an interesting dynamic happening that we have seen on the ground, and that is now solidly showing up in unemployment insurance: some companies are laying off people in the US, but the same companies and other companies are hiring these people, and even big companies with huge layoff announcements are still hiring people; and the whole process of these layoff announcements and layoffs has scared employees, and it cut down workers quitting their jobs, and workers who’d refused to go back to the office are now trudging back to the office a few days a week, and demands for higher salaries have softened.

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