Daily RedAlert - 2/1/23

Relevant Press

U.S. job openings increase to five-month high as labor market stays tight - Yahoo Finance

“There were 1.9 job openings for every unemployed person in December, the Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS report, showed on Wednesday.”

Only 3% Of CEOs Plan To Restrict Remote Work This Year - All Work

“Although some household names are confident in their return-to-office mandates, the data suggests 2023 will actually be a year to iron out hybrid work.”

Inflation Outpaces Wages in Most US Cities, But LA Bucks Trend - Bloomberg

“Wage growth was easing in most US cities by the end of last year and remained below the inflation rate in almost all of them, according to the latest regional pay data from the Bureau of Labor Statistics.”

PayPal to lay off 2,000 employees in coming weeks, about 7% of workforce - CNBC

“President and CEO Dan Schulman wrote in a release that PayPal is working to address the ‘challenging macroeconomic environment.’”

Employers’ top 2023 priorities: Personalized plans, contained costs, and employee satisfaction - Benefits Pro

“There’s an increasing demand among today’s multi-generational workforce for personalized benefits. New options such as lifestyle spending accounts and voluntary products allow employers to offer competitive packages without increasing costs. They also allow employees to pick non-traditional benefits that are important to them.”

58% of U.S. Businesses Plan to Add New Jobs in 2023 - CPA Practice Advisor

“While many companies are eager to hire, 9 in 10 managers said it's challenging to find skilled professionals, on par with results from the prior State of U.S. Hiring Survey.”

RedBalloon in the News

The hike will be a non-event, it's the messaging that matters - London South East (Reuters)

"The Fed isn't going to like this,” writes Andrew Crapuchettes, CEO at RedBalloon. "11 million job openings is the new normal in this tight labor market. The Fed and everyone else will just have to get used to it."

The eurozone bank show ain't over - Trading View (Reuters)

"The Fed isn't going to like this,” writes Andrew Crapuchettes, CEO at RedBalloon. "11 million job openings is the new normal in this tight labor market. The Fed and everyone else will just have to get used to it."

JOLTS Report: “The Fed Isn’t Gonna Like This.” - RedBalloonwork

“The Bureau of Labor Statistics Job Opening and Labor Turnover Survey released this morning shows that job openings in December jumped by 500,000 back near record levels at 11 million total job openings. CEO Andrew Crapuchettes offers a quick analysis of the report this morning.”

The Daily RedAlert is a collection of news stories that relate to business, the economy and freedom in the workplace. Are you looking for workplace freedom? Apply for work on RedBalloon.work!