“Over the past 2 years, big companies offered huge signing bonuses and inflated salaries that priced smaller businesses out of the labor market. Now, for the first time in quite a while, small businesses have access to job seekers, and that should produce booming small business growth this year.” -- Andrew Crapuchettes, CEO of RedBalloon
(Moscow, Idaho) – With a stronger than expected JOLTS report earlier this week, the collective economic world awaits the BLS February Employment Situation “Jobs” report, which is released tomorrow at 8:30 AM EST. January’s jobs report surprised everyone with a very robust 517,000 jobs added, which means the February report will almost certainly determine the Fed’s next move.
Andrew Crapuchettes, CEO of RedBalloon and pioneering innovator in labor market data and analytics, offers this Jobs report preview analysis:
“Remember, the people shortage began 50 years ago when the US birth rate fell below the population replacement rate of 2.1 children per family. That means the tight labor market isn’t going away anytime soon.
“Also consider that, over the past 2 years, big companies offered huge signing bonuses and inflated salaries that priced smaller businesses out of the labor market. Now, for the first time in quite a while, small businesses have access to job seekers, and that should produce booming small business growth this year.
“That’s why we can expect to see February's number come down from the very strong 517k that we saw in January, but still elevated for months to come.”
If you would like to interview Andrew Crapuchettes, contact Isaac Lopez at (208) 997 – 8013 or isaac@redballoon.work.
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RedBalloon CEO Andrew Crapuchettes is a longtime business leader, entrepreneur, and innovator in the technology industry. He has founded several successful tech-focused companies and is widely considered a global pioneer in the development and use of labor market data analytics – an industry he helped found over 20 years ago. He served as the founding CEO of Emsi (now Lightcast) - which brought market-changing innovations to how higher education, corporations, and governments approach the labor market.
In 2021, Andrew founded RedBalloon, which has quickly become America’s largest connectors of employers and job seekers who prioritize workplace culture. Crapuchettes’ is a frequent presenter at technology and business conferences, and a frequent guest on business and technology news and influencer podcasts.
To find out more, explore redballoon.work. For questions or interview requests, contact Isaac Lopez at isaac@redballoon.work.
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