Member-only story
Smaller Government?
Information is coming out that corporate employers are announcing a massive wave of hiring freezes and layoffs. Some employers are rescinding job offers which have already been extended to potential employees. Along with this, we can logically expect to see hours reduced, wage increases halted and benefits cut.
I will state up front that this will impact me, personally, as there has been a slowdown in contracts for travel nurses. With the slowdown, there is a concurrent reduction in compensation. I know I will find work, depending on what I am willing to do and how far I am willing to travel. Other people are not as fortunate. They are bound by their skill set, their family situation, other obligations or even their health. This is a genuine concern for me.
Many of these factors are not going to show up in the employment numbers. In some cases, an employee may still be technically employed but not scheduled for enough hours to support themselves. Or they may be employed and not be scheduled for any hours at all. I’ve been in that situation, so I can understand it.
The reason for these layoffs is that consumers are not spending as much. Or, to be clear, they are spending but they are spending more on necessities because of inflation. Spending has slowed…
