By: Economic & Finance Report
The recent labor data from July 2022, indicated that employers added 528k+ plus jobs. The increases seem to point to wages; sign on bonuses; as well as additional hiring perks. This has come when employers are hiring staff at exponential levels from previous years.
Employers have indicated in the past, that they are not hiring people with the right skillsets but using their current hires and employees; expanding and training them to develop and improve their skills and talents over time. According to the Dept of Labor statistics, wages have increased over 5% from the same period last year (2021). The recent peak in the labor market is a good sign for employers because it gives employers breathing and wiggle room, from the stagnation that had occurred a few years ago during covid. This allows employers to maneuver around and grow their current work force inversely. -SB
Image Source: Financial Times