Category: wage cuts

Labor Markets Likely to Stay Tight Despite Recession: Study

November 17, 2022
Business & Marketseconomyhiring freezejob cutspopulation growthrecessionU.S. labor marketUSwage cuts
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Even if an economic downturn were to materialize, labor markets will likely remain tight and companies will find it harder to hire and retain employees, according to a new joint report by Indeed and Glassdoor. “The economies of many countries could slow or even fall into recession as central banks work to lower inflation. But…

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Clinton-Era Labor Secretary Blames Corporate Price Gouging for Inflation, Calls for Price Controls

September 29, 2022
Business & MarketsCompanieseconomic policieseconomyhigh inflationinflationmonopoliesprofit-price inflationRobert ReichUSUS Newswage cuts
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Former Secretary of Labor Robert Reich is blaming “corporate greed” as the driving force behind soaring inflation, insisting that wages are not to be blamed for the phenomenon. The Federal Reserve’s notion that inflation is being supported by rising wages triggered by a tight labor market, and that the solution to the problem is to…

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