KTRH Local Houston and Texas News

KTRH Local Houston and Texas News

KTRH-AM covering local news from Houston and across Texas.


Half Of The Country’s Companies Say Layoffs Are Coming

Despite the spin from the White House, there are bad numbers coming in for the Biden administration.

According to a new survey conducted by left leaning NBC News, 50% of employers expect to layoff workers in the next six months.

"Unfortunately, labor is typically one of the easiest costs to cut" said Hank Lewis, economist with Lone Star College, "It's very easy to lower people's hours, or to cut staff, it's the easiest cost that employers can control, and so when costs are rising some opt to go that rout."

Some will opt to go that rout, and some already have, as our country continues to deal with this historically high inflation. Gas prices have lowered only temporarily, due to Biden's release from the SPR, and most economists fear that our nation's economic woes are only going to worsen in 2023.

"It's very similar to the late 1970's" Lewis told KTRH, "If I was a betting man, I would say the odds are 80% that by next year, we're going to be in a worse position than we are now."

Probably, right after the midterms.

There are some businesses that are doing well, but some big name companies like Ford, have already announced that layoffs are coming.

So what should you do to be prepared?

"Number one, make yourself indispensable" said business consultant Dr. Jayne Gardner, "Two, go in and ask your manager, how can I make your job easier? Three, get in front of your manager and ask, how can I be the best employee?".

And don't forget to vote in November, as this recession along with the record high inflation are just two of the major consequences, of the 2020 election.

Layoff notice after spread of Covid-19 (corona virus), Crisis of the business recession during the Covid-19 outbreak.

Photo: Getty Images

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