Recession warning sign? Layoffs pick up between June and August

Between June and July, 14 companies cut nearly 1,300 jobs in the state.

By Louis Llovio
| 4:50 a.m. August 19, 2022
| 0 Free Articles Remaining!

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For almost two years now, the No. 1 challenge facing most companies along the Gulf Coast is there is a labor shortage, that there aren’t enough employees to staff restaurants and retail stores.

Nationally, the news is similar. Or better. An Aug. 5 job’s report from the U.S. Labor Department, for example, said employers added 528,000 jobs in July and that the unemployment rate dropped to 3.5%, the lowest it’s been in 50 years.