3 months ago
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This week, a new survey shows that in Arkansas, the job market might be stabilizing.
In our latest quarterly inc. Tanc survey of Arkansas Businesses, executives and decision-makers who responded indicated that the employment situation in Arkansas is stable, with most businesses planning to maintain current staffing levels.
The number of businesses that plan to keep their current number of employees for the remainder of the year has steadily increased, from 51 percent six quarters ago to 70 percent
And this time, only 11 percent said their business would be cutting jobs. That's down from a peak of 16 percent a year ago. The downside: only 15 percent plan to add staff.
Also: very few employers plan salary increases.
In fact, more than half, 53 percent, say they will likely freeze current pay levels.
Job growth and salary increases have been the missing link so far in this economic recovery.
If people don't have jobs or are worried about their jobs, they don't spend money.
This is why economists, including university of Arkansas' Kathy Deck, expect this holiday shopping season to be weak.
It's a prediction that could have more effects on the job market next year, as retailers cut costs to make up for lost sales.
