Sarah Chaney Cambon

speaker
542 appearances 17 recordings 1 series first heard Sep 2017 last heard Feb 2023

Sarah Chaney Cambon’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Mass Hiring, Mass Layoffs Create a Jobs Market Puzzle · 10 Feb 2023 podcast
The recent job market data really points to the fact that the labor market is coming back into balance after experiencing years of pandemic disruptions.
Absolutely.
The U.S.
labor market actually added 1.1 million jobs over the past few months.
And January was a really strong month for hiring.
At the same time, we've seen a lot of big companies, particularly in tech, laying off workers.
Companies like restaurants and hospitals, nursing homes, and child care centers are really ramping up hiring.
These are really large parts of the economy, but they're somewhat overlooked areas.
The bulk of it has been concentrated in these services industries.
They actually accounted for 63% of all private sector job gains over the past six months, and that's up from 47% in the preceding year and a half.
Yes, absolutely.
Those are jobs like cafeteria worker, restaurant server, nurse, massage therapist.
A lot of those jobs were really hard hit at the beginning of the pandemic and really throughout 2020.
A lot of the workers were burnt out and they quit their jobs.
They left the labor force or found other opportunities.
And some of these workers decided that they wanted to move from a restaurant job into something like a white collar remote work job.
So there was lots of kind of transitions going on there so that when the restaurants reopened, they were really struggling to find workers.
I spoke to one restaurant manager who actually was basically running the fast food joint himself.
He's actually getting job applicants now, which is a shift from early 2021 through mid 2022, when he was actually having to run a lot of the operations himself, you know, like working the drive-through window, frying the chicken fingers, plating the food.
Yes, doing a lot of it.
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