“More Companies Start to Rescind Job Offers”
June 23, 2022
“…Companies including Twitter Inc. , real-estate brokerage Redfin Corp. , and cryptocurrency exchange Coinbase Global Inc. have rescinded offers in recent weeks. Employers in other pockets of the economy are pulling away offers too, including some in insurance, retail marketing, consulting and recruiting services.
At the same time, many companies have signaled a more cautious hiring approach. Netflix Inc. , Peloton Interactive Inc. , Carvana Co. and others announced layoffs. Technology giants such as Facebook parent Meta Platforms Inc. and Uber Technologies warned they will dial back hiring plans.
The labor market remains strong overall, with an unemployment rate at 3.6%, near the half-century low it reached in early 2020…”
https://www.wsj.com/articles/more-companies-start-to-rescind-job-offers-11655865283
Basically the coming recession is ending the labor shortage. At least in some areas it is. Anyone that’s reading this, for your own good, start a side hustle. If jobs dry up you’re going to have to make one.