1/2
The availability of online jobs showed a slight increase from the previous month, according to a report by The Conference Board. However, despite a strong labor market, the current levels are lower than those of the same period last year. The Conference Board is a reputable organization that provides economic insights and analysis.
Aug. 9 (UPI) — The Conference Board announced that the Lightcast Help Wanted Online Index, which measures the number of online job openings in the United States, reached a value of 161.9 in July. Although this represents a marginal increase from June, it remains 6.8% lower compared to the same time last year.
“The index experienced a 0.3% growth between July and June after a 0.4% decrease between June and May,” as stated on the Conference Board website.
Recent news revealed that Zoom, a prominent video-conferencing company, is encouraging its employees to adopt a hybrid work model by returning to the office. Depending on their proximity to a Zoom office, employees are required to be physically present at least twice a week, while the rest of the time they can utilize the company’s own technologies for remote work.
During the peak of the COVID-19 pandemic, video conferencing became an essential tool as many businesses temporarily closed their physical offices to prevent the spread of the virus.
The job market remains robust overall, which has been attributed by President Joe Biden to the success of his economic plan known as Bidenomics. According to ADP, a private payroll processor, employers added 324,000 jobs last month, indicating that the economy continues to support new hires despite challenges such as higher lending rates and inflationary pressures.
Nela Richardson, Chief Economist at ADP, commented, “The economy is performing better than expected, and a strong labor market is driving household spending.”
However, wage growth is slowing down, with a 6.2% increase from the same period last year, marking the slowest rate of growth since November 2021.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
