Do You Still Have Leverage in the Job Market? Depends on Your Industry.

The labor market has experienced a decline in job options and bargaining power for workers, however, some industries such as hospitality and healthcare still offer significant leverage for employees, with the number of resignations surpassing layoffs.

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Relevant topic timeline:

8/24/2023

2023 Layoff Tracker: T-Mobile Cutting About 5,000 Employees

T-Mobile, General Motors, Juul, Dick's Sporting Goods, and other major companies have announced layoffs affecting thousands of employees, as employers restructure their workforces amid recession fears and changing market conditions.

8/29/2023

US job openings fall below 9 million for the first time since March 2021

The US labor market shows signs of easing as job openings decline for the third consecutive month, worker quits decrease, and layoffs increase, indicating a more balanced state, according to the Bureau of Labor Statistics.

8/29/2023

Job openings fall to lowest since March 2021 as labor market softens

The number of open jobs in the US dropped to its lowest level in over two years in July, signaling a slowdown in the labor market, with economists expecting a further decrease in labor demand and a possible response from the Federal Reserve.

8/31/2023

The job market shows signs of ‘normalizing,' labor economist says — here’s what that means for workers

Job openings and layoffs decreased in July, indicating a return to pre-pandemic labor market patterns, with economists attributing the drop to a decline in turnover rather than contraction.

9/1/2023

Georgia labor market remains strong, but there are signs of slowing

As the labor market begins to shift back to normal after the pandemic, job openings are declining and the rate of people quitting jobs is decreasing, indicating a more balanced market, although unemployment is still low and there are still opportunities for skilled workers.

9/21/2023

Layoffs Remain Near Record Lows Despite High Inflation and Rising Rates

The number of job layoffs in the U.S. remains near a record low despite rising interest rates and high inflation.

9/22/2023

Job Openings Drop 27% from Peak, Potentially Spelling Trouble for Stocks

The decline in job openings could have negative implications for the US stock market, as job openings and the S&P 500 have shown a strong correlation since 2001, with job openings currently down 27% from their peak in March 2022.

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Posted 8/30/2023, 5:44:20 PM

Do You Still Have Leverage in the Job Market? Depends on Your Industry.

investopedia.com

Relevant topic timeline:

8/24/2023

2023 Layoff Tracker: T-Mobile Cutting About 5,000 Employees

8/29/2023

US job openings fall below 9 million for the first time since March 2021

8/29/2023

Job openings fall to lowest since March 2021 as labor market softens

8/31/2023

The job market shows signs of ‘normalizing,' labor economist says — here’s what that means for workers

Job openings and layoffs decreased in July, indicating a return to pre-pandemic labor market patterns, with economists attributing the drop to a decline in turnover rather than contraction.

9/1/2023

Georgia labor market remains strong, but there are signs of slowing

9/21/2023

Layoffs Remain Near Record Lows Despite High Inflation and Rising Rates

The number of job layoffs in the U.S. remains near a record low despite rising interest rates and high inflation.

9/22/2023

Job Openings Drop 27% from Peak, Potentially Spelling Trouble for Stocks