“The Great Resignation has yielded to the Great Stay,” Hughes said in an interview. “It could definitely be shrinking … which suggests this is really a correction.”
Topic
layoffs
What would you do to try and avoid a layoff?
Families striving to move up the economic ladder may also be at risk, he said. “People may have made investments that, if they lose their job, they may lose their car, they may lose their house.”
Banking, finance sector layoffs hit NJ, include Prudential and JPMorgan Chase
Today in NorthJersey.com, Bloustein School University Professor and Dean Emeritus James Hughes says white-collar jobs in banking and finance have become saturated after a two-year hiring spree that followed the COVID-19 pandemic, which is why some of the state's...
Economic Doubts and Downturn?
Although a solid 263,000 jobs were created nationwide in November within the context of a 3.7% unemployment rate, the US and New Jersey economies are nonetheless facing headwinds: Inflation remains high and the federal reserve’s attempts to control it by raising...
Twin crises: The economic impact of COVID-19 and Americans’ outlook for the future
Americans are experiencing dire financial and emotional trauma from the pandemic-driven recession and worry that these negative realities will linger for many years.
Latest jobs report shows long-term unemployment still on the rise, worrying economists
“The longer you’re out of work, the harder it is to get re-employed,” said Maria Heidkamp, director of the New Start Career Network at Rutgers University. “I think we're on the cusp of catastrophic long-term unemployment. The fact that so many of the layoffs we...
One-fifth of U.S. workers were laid off in past five years, study says
One in five U.S. workers was laid off in the past five years and about 22% of those who lost their jobs still haven't found another one, according to a new survey that showed the extent Americans have struggled in the sluggish labor market since the Great Recession...