Following a remarkable recovery and hot labor market over the past two years, LaborIQ predicts significant changes in 2023. A shift in the number of job openings, hires.
Economists are predicting a slowdown in labor market activity in the U.S. in 2023 due to a likely recession, a continued battle with inflation, more layoffs and higher unemployment. But data shows the far greater concern is demographics.
With inflation eating into salaries, employees are securing job offers to force their bosses to bump up their pay. Welcome to the Great Raise-ignition.
In September, the state had nearly 1.03 million job openings, which amounts to almost 1.8 openings for every unemployed resident. Dallas-Fort Worth added 255,000 jobs in the last year, roughly 2.5 times the usual pace.
The region has added 19,500 jobs in October and 255,000 jobs in the 12 months ending in October, far outpacing previous years’ job growth. D-FW also set a new high for total employment in October with nearly 4.19 million workers.