Laid-Off Workers Hired Quickly by Other Companies: This Labor Market Is Astonishingly Strong, Fuel for Fed Inflation Worries

by Wolf Richter
Wolf Street

It’s already playing a key role in every one of Powell’s press conferences.

Just about every day, there are stories of layoffs, but mostly small-scale layoffs, in the hundreds, 300 people here, 500 people there – of the 153 million employed people. Occasionally, there were layoffs of 1,000 or 2,000 people, and sometimes those are in global operations, with an unknown number in the US. Then there are large companies that are laying off staff in the divisions they’re trimming back, but they’re hiring in their other divisions, and often employees can get hired by another division.

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