Why companies are clinging to workers, despite the economic downturn


Listen to the article

(2 minutes)

A lingering economic puzzle explains why

the labor force remains tight amid slowing growth, high inflation and growing fears of recession.

Gross domestic product growth slipped into negative territory in the first half of the year. Borrowing costs have risen sharply as the Federal Reserve raises interest rates in an effort to reduce inflation. Despite this, the monthly payroll rose by an average of 438,000 from January to August, almost three times its pre-pandemic rate of 2019.

Continue reading your article with
a membership in the WSJ

View Membership Options

Already a member?

Login


Wj

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button