“There’s a lot of hoarding going on – and still lots of hiring in industries that are experiencing strong demand,” said Dana Peterson, the chief economist at the Conference Board in New York.
The survey showed most CEOs expect the next downturn to be short and shallow. “If that’s the case,” said Peterson, “it makes sense to hold onto your labor force.”Arnold Kamler, the CEO of Kent International, learned that the hard way. Demand for the bicycles that the company imports and manufactures at a small factory in South Carolina was insatiable during the pandemic.
“I thought that when we went to rehire in March, we would have no problem ramping up,” he said. But only about a third of the workers returned and the company is now scrambling to find and train new employees. The factory currently has 85 workers, but Kamler would like 110.Julia Pollak, chief economist at ZipRecruiter in Los Angeles, said employers tell her they are retaining workers they wouldn’t normally keep because of concerns they will have problems ramping up. But she sees a limit to this.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European apparel brand moves out PHL orders, shifts to Vietnam | Andrea E. San JuanA MAJOR European apparel brand has pulled out its orders from the Philippines and is transferring the orders to Vietnam because Vietnam has a free trade agreement with the European Union, according to the Confederation of Wearables Exporters of the Philippines (Conwep). Conwep Executive Director Maritess Jocson-Agoncillo said the resumption…
Source: BusinessMirror - 🏆 19. / 59 Read more »
DTI sets its sights on finishing EU FTA negotiations before 2028 | Andrea E. San JuanTRADE and Industry Secretary Alfredo E. Pascual said the Department of Trade and Industry (DTI) will exert “all efforts possible” to finish the formal negotiations on the trade agreement between the Philippines and the European Union before the end of the administration of President Ferdinand R. Marcos Jr. “We will…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Advocacy program pushes crop farming in urban communities | Andrea E. San JuanThe Department of Agriculture-Bureau of Plant Industry (DA-BPI) and Nestlé Philippines, through the Maggi Sarap Sustansya Advocacy, announced a collaboration that will advance efforts to promote urban agriculture to help Filipino communities achieve food self-sufficiency, while improving their access to and consumption of more plant-based food. Through a memorandum of…
Source: BusinessMirror - 🏆 19. / 59 Read more »
San Miguel Brewery earned P13.5 billion in six monthsSMB said in a statement first-half profit reached P13.5 billion as consolidated revenues in the first semester rose 14 percent to P74.1 billion from P65 billion in the same period last year. READ MORE:
Source: MlaStandard - 🏆 20. / 55 Read more »
Julie Anne San Jose's web musical series 'Still' to air on GMA-7Julie Anne San Jose&39;s web musical series, "Still," will air on GMA-7 starting on Monday!
Source: gmanews - 🏆 11. / 68 Read more »
Only 23% of workers say bosses encourage dissent–PwC poll | Andrea E. San JuanONLY 23 percent of Filipino employees say that their managers encourage dissent and debate and only 26 percent of Filipino managers will tolerate small-scale failures, according to PwC’s Philippine Workforce Hopes and Fears Survey 2023. Veronica Bartolome, consulting managing principal of PwC Philippines, said while people are clamoring for feedback…
Source: BusinessMirror - 🏆 19. / 59 Read more »