Mar 10, 2023 - Economy
Laid-off workers have plenty of options
Add Axios as your preferred source to
see more of our stories on Google.
Here's one thing you might have missed in this morning's crowd-pleasing jobs report: Americans spent even less time in spells of unemployment.
Why it matters: The labor market is still hot and employers are hiring at a robust pace. That means laid-off workers have plentiful opportunity to find new gigs.
By the numbers: The median duration that workers spent unemployed dropped to 8.3 weeks last month. For context, before the pandemic hit in January 2020, the number was 9.6.
The big picture: Reports continue to trickle out about layoffs in hard-hit areas of the economy, including technology.
- But the February jobs report is further confirmation that, in most other sectors, employers still have a lot of demand for staff.
