Getting fired takes hard work in this economy

May 26, 2022
|
Written by Washington Retail
|

By Callum Borchers, The Wall Street Journal

To hold down a job these days, a worker seemingly needs one essential trait: a pulse.

Some jobs have always required little more than the ability to stay awake. In the tightest labor market in a half-century, people in higher functions may get by just going through the motions, too.

“You’d have to be incredibly lousy” to get fired as a software engineer at the moment, says David Cancel, who employs roughly 700 people as chief executive of Drift, a Boston-based marketing firm that uses artificial intelligence. “Most companies—and us, in some cases—are keeping people who wouldn’t be on the team in a looser market. The standards would be higher.”

Though some economists warn of a coming downturn, layoffs and discharges in recent months have registered at or near all-time lows, according to the Labor Department. Less than 1% of workers are getting pink slips, roughly half the norm, with job security especially sweet in finance, education, healthcare and the public sector.

Read the full story

The Wall Street Journal (tiered access)