The Morning Ledger: Softening Worker Demand Could Portend Broader Hiring Slowdown
The CFO Journal article, "The Morning Ledger: Softening Worker Demand Could Portend Broader Hiring Slowdown," quoted Russell Reynolds Associates Consultant Jim Lawson on the trend of the decline in job openings and hiring. The article is excerpted below.
Good morning. Employer demand for workers softened this summer, as job openings fell from a year earlier for the third consecutive month in August, Labor Department data released Wednesday showed. Hiring, too, has cooled, as the total number of workers hired on to new jobs was lower in August than a year earlier—further evidence that a slowing economy and worries about trade may be affecting the job market.
If the trend in job-openings data continues beyond a summertime drop, it would be cause for concern, says Jim Lawson, head of the financial officers practice for Russell Reynolds Associates’ Americas division. “For the past couple years, we’ve seen pockets of slowness followed by a very strong period,” he told CFO Journal on Wednesday.
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