Covid's 'legacy of weirdness': Layoffs spread, but some employers can't hire fast enough
Publishing timestamp: 2023-02-20 09:00:01
Summary
Job cuts are rising at some of the biggest US companies, but others are still scrambling to hire workers due to the wild swings in consumer priorities since the Covid pandemic began. Service industries such as hospitality and restaurants have been hiring to rebuild after the pandemic, while tech giants such as Meta, Amazon and Microsoft have announced job cuts. Wages for workers in leisure and hospitality industry have risen, but some analysts and economists warn that weakness in some sectors, strains on household budgets, drawdown on savings and high interest rates could further fan out job weakness in other sectors. Companies such as Boeing and Chipotle are still adding employees, while some companies have had to raise wages to attract and retain staff.
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Keywords: markets, aerospace and defense industry, blackrock inc, transportation, life, travel, chipotle mexican grill inc, technology, business news, economy, u.s. economy, amazon.com inc, business, unemployment, boeing co, microsoft corp, meta platforms inc, jobs, breaking news: business, walt disney co, airlines, walmart inc, retail industry, restaurants, general motors co, goldman sachs group inc, politics, zoom video communications inc,
Source: https://www.cnbc.com/2023/02/20/weird-job-market-layoffs-hiring.html