“This is the wait-and-see JOLTS. Employees are staying put. Employers are pausing growth plans.” -- RedBalloon CEO Andrew Crapuchettes
The U.S. Bureau of Labor Statistics released the Job Openings and Labor Turnover Summary for January showing that the US economy had 8.9 million, little changed from December at 9 million. The number of hires and total separations were also little changed at 5.7 million and 5.3 million, respectively.
“American businesses have entered a new phase: The Great Pause,” Andrew Crapuchettes RedBalloon CEO said. “There’s a lot of uncertainty out there among small businesses. From interest rates to presidential politics, businesses are keeping their powder dry as they wait for signs of economic direction in 2024. Interestingly, the quits rate is down, which means employees are also in a wait-and-see mode.”
Founded In 2021, RedBalloon has quickly become America’s largest woke-free job board, connecting employers and employees who prioritize a positive workplace culture free from the divisiveness of cancel-culture mandates.