Hiring Trends in Recessions by Size of Firms

Mish

A Tweet on hiring trends caught my eye this morning. I added to it.

Here's the Tweet that caught my eye.

The title was cut off, but I found the chart and added to it.

Medium-sized firms show the steepest reactions in recessions and recoveries.

Recession comparisons to 2007 stand out.

Mike "Mish" Shedlock

Comments (35)
No. 1-6
Realist
Realist

I was in the US last week. Everywhere I went I saw signs “we are hiring”. Looking at some of the news stories while there, I noticed several articles about different companies looking for skilled workers. The Jolts report keeps portraying lots of empty jobs. Yet many on your blog complain that it is all a mirage and fake. Now that I have seen it personally, I realize that they are full of crap; which I suspected.

Roadrunner12
Roadrunner12

"I was in the US last week. Everywhere I went I saw signs “we are hiring”."

Meanwhile back in Canada, doesn't it have that 2015 feel with what seems to be a large number of coming layoffs. CN Rail, CP Rail, Bombardier, Ford, Alberta government, FCL, Husky, Haliburton, Bank of Montreal, Rona. Alberta looks to be especially hard hit.

Employment numbers out tomorrow, 1800 jobs lost in Oct, will that continue? Im not seeing many "we are hiring" signs here?

WarpartySerf
WarpartySerf

"We are hiring slave workers at slave wages"

Tony Bennett
Tony Bennett

"The latter's recent decline, pictured below, is quite dramatic."

...

Would love to know how much do to A) small business not able to hire do health insurance cost increase (another 5% for 2020 per cnbc) and B) potential employees for small businesses opting to work for larger firms that offer health insurance.

bradw2k
bradw2k

In the US, low paying crap jobs are always hiring, have high turnover, and the only applicants are individuals you'd have to be desperate to hire (because they suck so bad they will quit or be fired within months).

There is serious salary "inflation" in industries showered by nearly-free debt, er I mean "investment", money. If I want to hire a junior software dev, I have to pay double what I myself made decades ago (inflation adjusted) to someone who is likely to cause a net LOSS to team productivity for 6+ months. It's bananas.

I think this adds up to: a skill-challenged labor force in the US, i.e., individuals who aren't as productive as they could and should be.


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