Is America Inc’s war for talent over?

Commuters board a train at the Fulton Street subway station in New York.

2024-05-08  499  简单

That frenzy has now passed. As economic growth has slowed, employers have reined in hiring. On May 3rd the Bureau of Labour Statistics reported that America added 175,000 jobs in April, well below expectations. Companies including Nike, a sportswear brand, and Tesla, a maker of electric vehicles, have announced lay-offs in recent weeks. The ratio of job openings to unemployed workers has dwindled to 1.3. With quit rates down to 2.1%, the “great resignation” appears to have fizzled out (see chart).

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