The Labor Department reported 263,000 new jobs in November, while U.S.-based employers announced about 77,000 layoffs in the same month. Is this a good — or bad — time to ask for a raise?
Chat BoxThe good news is that employers are giving raises.the Labor Department said Friday.U.S.-based employers announced 76,835 job cuts in NovemberHiring has outstripped layoffs though, with the Labor Department reportingEmployers and employees alike are concerned about inflation, rising interest rates and the prospect of recession.Judge whether the timing is right.The layoffs in the tech sector are a sign that other industries could be next.
She added that it’s also important to keep an eye on what financial shape your company is in and keep your ears open to learn whether co-workers are getting raises or other benefits.If you genuinely feel you’re being underpaid, know that it’s expensive for employers to replace staff. If you’re at a high-performing company that has no plans for layoffs, be aware that hiring remains difficult, according to the Workplace Trends Report by Indeed and Glassdoor.Thom Wright, global master coach at EZRA Coaching, a virtual coaching app, said when lobbying for a raise, it’s important to reflect, assess your performance and articulate what you can bring to the company.
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