Second-quarter GDP numbers are out. In the past three months, the U.S. economy contracted by 0.9%. That’s after shrinking by 1.6% in the first quarter. Still Fed Chairman Jerome Powell points to the labor market as a source of economic strength: Since the first of the year, employers hired 2.7 million people, he says.
What do the new GDP numbers mean for job seekers?
“Because of the weakening economy, job seekers are going to be more reticent about quitting and going to another job,” says Harley Lippman, CEO at Genesis10 in an interview with One America News. “As we all know, there have been a lot of resignations, a lot of people have changed jobs since the start of the pandemic. Now, they’re going to be more concerned about job security.”
Genesis10 CEO Harley Lippman was recently recognized as a Best CEO for Diversity and a Best CEO for Women by Business Insider. Staffing Industry Analysts consistently recognizes Genesis10 as a Top IT Staffing Firm.
Genesis10 is a professional technology services firm providing Staffing, Direct Hire, Digital Consulting, Talent Creation and Onshore Managed Services. Headquartered in New York.