News
Posted: Aug 04, 2022 5:15 PMUpdated: Aug 04, 2022 5:15 PM
Job Prospects Shrinking
Victoria Edwards
If you are having trouble landing a job right now it may be because the job market is shrinking. Since March, over 1 million jobs have disappeared from the rolls of businesses nationwide as they attempt to cut costs amidst growing inflation figures.
The National Bureau of Labor Statistics reported this week that an analysis of the impact of inflation on business is causing many to eliminate jobs or to not find a replacement when an employee leaves.
A total of 10.7 million jobs have been lost to job hunters since last year at this time and the Bureau says that loss is causing non-employment to rise, which could translate to a rise in unemployment rates.
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