Layoffs dropped to 1.2M in December, the lowest since the Bureau of Labor Statistics began tracking.
The flip side of workers’ being increasingly willing to quit is that employers are pulling out all the stops to retain the ones they have.Martha C. White
There were 10.9 million job openings in December — a figure nearly triple that of a year ago and marginally higher than the 10.6 million job openings at the end of November. “Despite the omicron variant, demand for workers is still near record highs,” said Daniel Zhao, a senior economist at Glassdoor. “This is a sign employers are hoping that the omicron wave will be temporary.”
“I think we’re heading for another disappointing number,” Hetrick said. “Omicron was kind of on the upswing during their survey week in December. ... We’re not out of the woods.” Others argued that higher productivity, combined with investment aimed at sustaining and generating further gains in worker output, could help mitigate the economic impact of higher wages and salaries.
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