US Payrolls Surprise With Surge
Bloomberg Businessweek
00:00
Are You Seeing Pandemic Paranoia?
Carol Costello: It's gone beyond labor hoarding now. I'm calling it pandemic paranoia. This overhang from the tight, very difficult labor market coming out of the crisis. Employers tried very hard to attract and retain workers. So that's the first thing. The second thing is we see all these headlines around layoffs. But if you put it in perspective, in December 2019, jobs were 1.2%. Fast forward December 2022, layoffs under 1% of the workforce.
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