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Mar
4

The jobs boom

Gas prices are up, there are concerns about inflation, and some shortages continue – that’s the bad news.

The good news is the hiring boom that’s been going on for over a year shows no signs of abating, AND wage increases seem to have moderated a bit – which may be good news on the inflation front.

As a result, unemployment is down to 3.8% – a great number by any standard.

From the New York Times:

Job openings are near a record high. Layoffs are at a new low. And hiring has remained strong in the ebb and flow of successive waves of the pandemic — employers have added at least 400,000 jobs every month since May, the longest such streak on record. [emphasis added]

The economy is moving in the right direction; things are looking solid for a robust 2022 indeed.

What does this mean for you?

More workers = more health insurance and workers’ comp premium dollars.


Joe Paduda is the principal of Health Strategy Associates

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A national consulting firm specializing in managed care for workers’ compensation, group health and auto, and health care cost containment. We serve insurers, employers and health care providers.

 

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