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U.S. Job Growth Slowed in August

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“Unfortunately, because the demand and sales volumes pulled back, we needed to account for that,” said Seth Barnes, who owns the corporate along with his wife, Samantha. “We’re a bit of more comfortable saying, let’s be conservative, let’s hope for a very good holiday, but let’s not overextend ourselves, whereas the past two years we were more like, let’s just go for it.”

But other firms see opportunities for growth.

Tyler Boynton expanded his oral surgery practice throughout the pandemic, buying a practice in Napa, Calif., to complement his office in Sonoma. It was a raffle — he bought the business in August 2020, when many individuals were still avoiding the dentist — but one which paid off because the pandemic ebbed and demand rebounded.

For months, Mr. Boynton’s biggest challenge has been finding enough staff. In a single week this yr, six people didn’t show up for scheduled interviews. But that has modified. He has hired three people up to now two weeks, and is in search of more.

“Within the last month, we’ve had more qualified applicants than we’ve had within the last eight years,” he said. “I don’t know where these persons are coming from — they’re just coming out of the woodwork.”

Inflation could also be pulling more people back to work as they struggle with the rising cost of living. And headlines about layoffs and a possible recession could also be spurring some people to return to work while they’ll. A recent survey conducted by the profession site ZipRecruiter found that job seekers were feeling less confident about their searches, and were putting more importance on job security than on flexibility.

“Persons are spending down that pandemic nest egg a bit of more quickly than they expected due to rising prices, and now feel a bit more nervous and a bit more desperate to search out a job,” said Julia Pollak, the chief economist at ZipRecruiter.

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