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Workplace Insights: What's Hot, What's Not

Feb 7th, 2024 | Workplace Insights

Your latest INSIGHTS & TRENDS for the Week of February 5, 2024.

There are so many current headlines surrounding the workplace, it's hard to keep up. To make this as easy as possible for you, Workplace Insights: What's Hot, What's Not, will provide you with the latest updates that may impact your organization as it relates to market trends and current industry insights.

  1. The U.S. job market continues to defy expectations of a slowdown by adding 353,000 jobs, nearly double what was expected. Additionally, the Bureau of Labor Statistics revised December’s payroll gains up from 216,000 to 333,000.

  2. According to the job outplacement firm Challenger, Gray & Christmas, U.S. companies laid off 82,307 employees last month but still down 20% compared to this time last year. Technology firms felt the biggest pain with Microsoft, Alphabet (parent company of Google), and PayPal announcing layoffs totaling 15,806.

  3. The combination of persistently high mortgage rates and soaring home prices, coupled with a severe shortage of available housing, creates a perfect storm that continues to hinder homeownership for a significant number of people. This is particularly true for first-time buyers, who maintain a pessimistic outlook on their ability to afford a home as we enter 2024.

  4. Although the prominence of environmental, social, and governance (ESG) may have diminished slightly since the COVID-19 pandemic, the underlying issues that sparked the ESG buzz continue to persist. As a result, numerous companies are actively seeking analysts and leaders to address these concerns, in addition to more traditional roles like Chief Sustainability Officer.

We hope you are benefiting from this resource. If you have anything you would like to add or specific questions, please drop us a line.

This information is provided for informational purposes only and should not be taken as legal advice. The O’Connor Group makes no representations as to the completeness, suitability, or validity of any information contained herein and will not be liable for any errors or omissions.

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