50% of employers expect job cuts, survey finds. Here’s how to prepare for a potential layoff
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"They're focusing on what they can control," Sethi said of employers. "They're dealing with geopolitics, supply-chain issues, inflation, war in Ukraine, all these factors for which they have to determine what their strategies are." Despite those negative indicators, other data suggest the labor market remains strong. Employers added 528,000 payrolls in July, beating expectations and marking a full recovery of lost jobs during the Covid-19 pandemic. The layoff rate hovered near record lows in June while job openings remained historically elevated. About 250,000 people filed an initial claim for unemployment benefits during the week ended Aug. 13 — an increase relative to the spring but only up slightly from prepandemic levels. "The labor markets are...