A newly released jobs report showed that the pace of hiring in the private sector slowed down in August, amid growing fears of an economic slowdown and historically high inflation. The much awaited monthly report on private sector employment was released by payroll processing firm ADP on Aug. 31. Company payrolls grew by only 132,000 this…
Jobs Report Shows Hiring Slowdown, Inflation Pressures Elevated
August 31, 2022
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Tesla Hiring 500–600 Staff a Month at German Plant: Regional Economy Minister
BERLIN—Tesla is hiring 500 to 600 people a month at its Gruenheide plant and is working with the national employment agency to recruit workers no longer needed at German carmakers, the regional economy minister of Brandenburg said on Monday. A total of 4,100 to 4,500 staff have been recruited so far, minister Joerg Steinbach said…
Intel Freezes Hiring in PC Chip Division for at Least 2 Weeks
Intel Corp. has frozen hiring in the division responsible for PC desktop and laptop chips, according to a memo reviewed by Reuters, as part of a series of cost-cutting measures. Intel is “pausing all hiring and placing all job requisitions on hold” in its client computing group, according to the memo sent on Wednesday. The…
A ‘Goldilocks’ May Jobs Report, But …
Commentary May jobs printed at 390,000 new jobs above the consensus estimate of 325,000. The unemployment rate was 3.6 percent, unchanged from last month, but down from last May’s 5.8 percent. The labor force participation rate was 62.3 percent, up from the 61.1 percent that printed in May 2021. The Labor Participation Rate was 62.3 percent, up 10 basis…
Microsoft Joins Peers in Hiring Slowdown Amid Economic Volatility
Microsoft Corp. looks to slow hiring in its Windows, Office, and Teams chat and conferencing software groups, Bloomberg reports. Recently, Microsoft disclosed plans to double its budget for salary increases and boosting stock grants to retain key workers. Microsoft’s slowdown was not companywide, and overall it will continue to hire with additional focus on where those resources go….
3 People You Have to Hire
By Taylor Kovar Staffing can be a nightmare. For companies big and small, onboarding is an expensive timesuck that’s fraught with anxiety over how it will all work out. All that time spent describing the open position and searching for a qualified candidate that fits the mold only leads to more strife. Fortunately, there’s a…
Home Depot Stepping up Spring Hiring to 100,000 Workers
Home Depot Inc. said on Tuesday it would hire more than 100,000 workers across its stores and warehouses, as the retailer gears up for its key spring selling season when demand for home-improvement products is at its peak. The company has typically hired around 80,000 workers for spring over the past several years. The spring…
Understanding the Differences Between Hiring Freelancers, Contractors, and Employees
By Lyle D. Solomon Very often, entrepreneurship starts as a solo venture or a partnership. But as the business expands, keeping up with client demands can be too much for any business owner to take on themselves. This is actually a good problem to have. Unfortunately, not everyone knows when it’s time to bring in…
Hiring vs. Outsourcing: How to Recognize the Right Moment to Add Talent to Your Team
By Vitaly Alexandrov One of the many problems startups typically face is a staff shortage. To remedy this, founders can either hire a team or outsource to fill the gaps. While over 300,000 jobs are outsourced annually in the United States, small businesses are 66 percent less likely to outsource than large corporations. There are…
How to Maximize the Productivity of New Team Members
Hiring a new team member can be challenging. An oft-quoted stat from SHRM put the average cost per hire around $4,129 back in 2016. Since then, with a pandemic, remote work, and an ongoing employee crisis, the price has only gone up. Additionally, the need to maximize productivity is essential. With so much capital going…
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