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The number of jobs cut in 2017 dropped by a notable 20.5 percent from a high of 526,915 cuts in 2016, leading to some of the lowest job-cut data seen since 1990.
These numbers were announced Thursday by the Chicago-based consulting employment firm Challenger, Gray & Christmas.
Labor - Market - Uncertainty - Health - Care
“The tight labor market, coupled with uncertainty surrounding health care and tax legislation, possibly kept employers from making any long-term staffing decisions this year,” the firm’s CEO, John Challenger, said in a statement.
He warned, however, that this trend could conceivably reverse itself in 2018 “as companies realign with consumer demand,” though he also made certain to highlight the bright side.
Job - Cuts - Quarter - Companies - Wage
“While we may see more job cuts in the first quarter of 2018, some companies have announced wage increases and bonuses for employees due to the passing of the tax bill,” he said.
Many companies — nearly 100, according to The Daily Wire — have announced bonuses, wage hikes and charitable donations because of the comprehensive tax reform bill President Donald Trump signed into law in late December.
Jobs - Year - Place - December - Instance
Moreover, while some jobs may admittedly disappear next year, numerous more are apt to take their place. In December, for instance, whereas employers cut only 32,423 jobs, they hired a stunning 250,000 new employees, according to CNBC, bringing the net to 217,577 jobs created.
“Meanwhile, announced hiring plans are the highest on record, according to Challenger tracking,” the firm added in its statement. “Employers announced plans...
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