With the
new year may come a career change for some. In this week's
Deep Dive,
News 12's
Kristie Reeter is taking a deep dive into the job market to see where hiring
has been, where it has slowed and how inflation is having an impact.
When
looking for a job, what extras are important to you? In a News 12 poll, the
majority of Bronx, Brooklyn and Long Island viewers said that remote
opportunities were important to them, while Westchester viewers said they were
looking for flexible hours.
This week,
the Federal Reserve chair said that high inflation could make it harder to
restore the job market, so what does that mean and what are we seeing in New
York?
"The
way to combat inflation is by raising interest rates," says Caleb Silver
from Investopedia. "The Federal Reserve is probably going to do that three
or more times this year, that makes borrowing costs higher for companies, which
makes it harder, more expensive, to hire workers."
New York is
seeing a very high unemployment rate mostly because of New York City, the
statewide average is 6.6%. New York City is the highest at 8%.
We see the
unemployment rate going down, so why are we hearing that hiring has slowed?
"They
are based on two different surveys. So the unemployment rate is actually
families or households filing for unemployment claims, the other one, job gains
are about people getting back to work. Companies hiring, less people filing for
unemployment claims, less people actually getting hired except for the
restaurant industry," says Silver.