Category: Employers

Employers

Economy Slowing, but Far Better Than Feared

Wall Street Journal (11/23/22) Hannon, Paul; Cambon, Sarah Chaney Although the global economy is slowing near the end of a turbulent year, economists indicate that the deterioration in activity may not be as severe as feared in recent months and could reach a bottom in the coming year. Some economists believe the U.S. economy will experience two consecutive quarters of contraction in the first half

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Employers

Record High Increases Expected in 2023

Jeanne Sahadi, CNN Business (11/18/22) Employers are planning to increase their salary budgets by 4.6% next year, the highest expected annual jump in 15 years. That’s according to the latest international survey from consulting firm Willis Towers Watson, which included responses from 1,550 US employers. The survey was conducted from October 3 to November 4. A large majority of the organizations attributed the big bump to

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Employers

US Pay Increases to Hit 4.6% in 2023

Staffing Industry Analysts (11/17/2022) The overall salary increases in the US are forecast to rise 4.6% in 2023, up from an actual increase of 4.2% this year, according to the new “Salary Budget Planning” report by global advisory firm WTW. Labor market and inflationary pressure are fueling the higher-than-projected increases. According to the report, the pay increases are driven by companies’ reaction to inflationary pressures,

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Unemployment Projections for 2023 – 2025

Staffing Industry Analysts (11/14/22) The US economy looks weaker than it did in August, according to the fourth-quarter Philadelphia Federal Reserve’s Survey of Professional Forecasters. US GDP growth is expected to grow at 1.0% this quarter, down from 1.2% in the previous forecast. Forecasters also lowered their growth forecasts for the next three quarters. For full-year 2023, forecasters expect GDP to grow at 0.7% and

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Employers

Employment Trends Index Declined in October

PRNewswire (11/07/22) The Conference Board Employment Trends Index dropped in October to 119.57, down from an upwardly revised 120.73 in September 2022. “Job growth will likely continue over the next months, albeit at a slowing pace,” said Frank Steemers, senior economist at the Conference Board. “Indeed, the labor market remains resilient with job gains still strong, but the [U.S. Federal Reserve’s] rapid monetary policy tightening

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Employers

Job Openings Jump in September

MarketWatch (11/01/22) Bartash, Jeffry Job openings increased to 10.7 million in September from 10.3 million in August, according to the U.S. Department of Labor. Although companies still have a high number of open jobs, the total has dropped from a record 11.9 million in March. Yet the U.S. Federal Reserve would like the mismatch between high job openings and the relative scarcity of available workers

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