Next Job-Market Challenge: the Great Unresignation
15:46 JST, August 6, 2023
WASHINGTON (Reuters Breakingviews) – American workers have given up on quitting. Amid last month’s financial results from Wall Street was a warning from some firms that staff haven’t exited at the rate employers expected. The U.S. economy has weathered inflation without widespread layoffs so far, but a Great Unresignation could make seemingly healthy job numbers harder to read.
Just over a year ago, the financial services industry was one of several facing a labor crunch. Job openings in the industry hit a record 499,000 in June 2022, according to the Bureau of Labor Statistics, as firms’ strong demand for workers clashed with a nationwide labor shortage. That hiring spree has since cooled. The sector added 6,300 jobs last month, nearly half the gains seen in July 2022.
"NEWS SERVICES" POPULAR ARTICLE
Japanese Actor-Director Kitano Says His New Film Explores Homosexual Relations in the Samurai World
Japan’s Nintendo Profits Jump as Its Game Sales Get a Boost from the Hit Super Mario Movie
Japan’s Nikkei Pares Early Gains as Investors Lock in Profits
Japan’s Nikkei Muted; Set to Post First Weekly Drop in Five as Tech Stocks Drag
Israel Searches for Traces of Hamas in Raid of Key Gaza Hospital Packed with Patients
JN ACCESS RANKING
- Japan April-Sept. Current Account Surplus Hits Record High
- Japan 2023 Food Exports Reach 1 Tril. Yen at Record Pace
- 69.7 Bil. Yen in COVID-19 Loans to Small Businesses Uncollectible