What is happening in the job market?

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To many people, it feels like the U.S. is entering a recession. Tech companies are shedding workers, inflation is at a forty-year high and home prices are stalling as mortgage rates go up.?

But the job market is still on fire.

The unemployment rate remains at 3.6% and wages continue to rise. Go out to dinner and you’ll see signs aplenty advertising for workers. Some bosses are giving mid-year raises to incentivize the workers they have to stay.

While good news for employees, the labor market is causing consternation for business owners struggling to keep up with inflation and other rising costs. For the interim, workers still have the upper hand.

How are you hiring workers? What are the trends that you’re seeing in your area?

Latest Developments

• Local bookstores have seen a resurgence over the course of the pandemic with more shops opening and turning a profit.
• Gen Z isn’t interested in dining out and restaurants are getting creative to try and lure them in.
• Google could spin off some of its advertising services to a separate company under its parent company Alphabet to avoid an antitrust lawsuit.
• A crunch in the labor market is leading to delays in construction projects as owners struggle to find enough workers.
• Many people are back in the office across the country but the same cannot be said for those who live in the biggest metropolitan areas, leaving the local businesses without customers.

Conversations For You

• An internet and cell phone service outage in Canada left small business owners in a lurch, unable to accept most payments. Entrepreneurs share how they dealt with the outage.

Something Good

• My brother sent me this video of two horses encountering a bunny for the first time, and I have watched it no fewer than ten times. There is some language, but I was almost in tears from laughing so hard.