And the offered wages that job seekers actually received also spiked massively as employers comply with a new reality.
This is a big benefit to the US economy on many levels.
Inflation is just going to stick around for a while, it seems.
The layoff-hype wrung the sense of power out of workers they’d briefly enjoyed. But that’s about all that has happened.
Tech & social media companies went nuts during the pandemic hiring-bubble, then sobered up. Now it’s already over.
But the layoff announcements in the media scared workers into surrendering some of their newly found power.
To shed some additional light on the jobs report.
But all the breathless layoff-hype in the media scared workers and tamped down on wage growth.
Their huge sales, dizzying growth rates, and high pay-scales move the needle.
Walmart U.S. gave us some color: ecommerce sales +27%; grocery sales +12%; non-grocery brick-and-mortar sales -10%.