Consider it part of Covid's 'legacy of weirdness.' Layoffs are spreading, but some businesses can't hire fast enough.
The dynamic is making it even harder to predict the path of the U.S. economy. Consumer spending has remained robust and surprised some economists, despite headwinds such as higher interest rates and persistent inflation.
Wages for workers in the leisure and hospitality industry rose to $20.78 per hour in January from $19.42 a year earlier, according to the most recent"There's a difference between saying the labor market is tight and the labor market is strong," Kelly said. "When you lose a job you don't just lose a job — there's a multiplier effect," said Aneta Markowska, chief economist at Jefferies.
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