22 Oct, 2023
The beginning of 2023 was a tough one for some industries in the U.S. job market. But why? Well, it seems that the uptick in U.S. employment during 2021 has resulted in what some have labeled a massive “over-hiring” period. A period that was bound to encounter a speed bump or two along the way. But why so fast, and what can we do? Well, the first thing on our to-do list should be “don’t worry.” While layoffs have taken a toll on U.S. employment data and numbers, they are coming after record employment highs! That is to say that, statistically, a drop in employment is expected and not a sign of impending danger. According to Karin Kimbrough, chief economist at LinkedIn, “it’s never great to see people lose their jobs, but overall, the labor market is resilient, even if there’s been a small erosion to its strength, it’s still a tight market with plenty of open roles.” Kimbrough goes on to state that “for the moment, the U.S. consumer is still strong, and is till spending a lot.” This means that while some employers are looking to safeguard their company’ future through layoffs, economists are predicting these employers will experience the damaging consequences of not having enough production staff to meet consumer demand. In fact, experts in the employment field are viewing the end of 2023 and the beginning of 2024 as a time where we could very well see another strong rise in employment; a time we hope will remain strong and stable. In the meantime, however, there are still fulfilling, quality positions out there. Many right here through our office! So, the other thing on your to-do list? Send us your resume! (Or job descriptions for you employers!) And, together, let’s give the U.S. workforce something to celebrate.