“We expect that hiring among independent tech companies and other small businesses will keep the Fed Chairman on the edge of his seat,” -- Andrew Crapuchettes, CEO of RedBalloon
(Moscow, Idaho) – The Job Opening and Labor Turnover Survey for January 2023 is scheduled for release on Wednesday at 10:00 AM ET. And, in what’s become a monthly ritual for the past year, this upcoming report offers yet another inflection point for the economy and interest rates.
Key Observations:
1. Déjà vu All Over Again.
“The tight labor market has kept job openings near historic highs, even with worries of a softening economy. As a result, we’re getting quite used to every monthly job openings report being an epic event,” said RedBalloon CEO Andrew Crapuchettes, who is also a pioneer in using labor market data and analytics.
2. Is Small Business Now the Big Dog?
“We expect that hiring among independent tech companies and other small businesses will keep the Fed Chairman on the edge of his seat. That’s because, these companies have been boxed out of the labor pool over the past year by bigger companies who could offer huge salaries and signing bonuses. With many large companies slowing their hiring or even laying off their excess talent, small businesses have access to a deeper labor pool for the first time in a long time. That dynamic should keep job openings fairly robust.” -- Andrew Crapuchettes
3. People Who Need People
“The labor market has been the bright spot for the economy for months, and I don’t expect that to change anytime soon. I know that the Fed Chairman is hoping that hiring will slow down, but every employer I am talking to is saying that they desperately need people. Job demand is not going anywhere soon.” -- Andrew Crapuchettes
For more information, or 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. He is a frequent presenter at technology and business conferences and 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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