Page 13 - BusinessWest July 25, 2022
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  BusinessWest
EMPLOYMENT
JULY 25, 2022 13
Law of M
eredith Wise, president
Supply and Demand Puts Employees in Control
of the Employers Assoc. of the NorthEast (EANE), has worked in the
broad realm of human
resources for decades. She’s seen a lot when it comes to different kinds of employment-market conditions, but admits that she hasn’t seen anything quite like this.
“This is an anomaly; employers have not been in a position where they’re not in control of the job market for a long, long time,” she said. “It’s been a long time since employees have had this kind of control.”
And it looks like they will maintain control for the foreseeable future, said
By Kailey Houle
Wise and others we spoke with, because the forces of supply and demand are cer- tainly in their favor — as they have been since well beyond the pandemic, but now, even more so.
Indeed, the national unemployment rate in May remained at 3.6% for the third month in a row, just slightly above the mark in February 2020 (3.5%), prior to the pandemic — this despite a general cooling of the economy amid soaring inflation, supply-chain issues, the war in Ukraine, and other factors.
These numbers translate into a smaller pool of available, qualified labor, con- tinued headaches for employers, and, as Wise said, control of the front seat in the hands of employees.
“Demand and supply still do not align
Employment
Employers Are Still Laboring
  
















































































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