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Early Labor Market Data Indicates Shift to the ‘Big Stay’

For as long as we can remember, there were many more open positions than there were people to fill them. So when they came to the negotiation table, employees and job seekers held leverage over employers and could keep high expectations for their next role.

Since then, there have been sustained interest rate increases by the Federal Reserve in the ongoing battle against inflation, a short-term banking crisis, and the continued deterioration of financial market conditions on a national and global scale in some regards. And even despite those factors, the labor market remained relatively resilient, and some believe that a strong labor market keeps us from entering a recession. The tide is turning, and employers are beginning to regain leverage in the recruiting war.