Firings and layoffs hit record lows in December, especially in the food service industry
Here’s a bit of good news, courtesy of the labor market: It’s harder than ever to get fired, Recode reports. In December, just 0.8 percent of employees were laid off or fired—a record low since the Bureau of Labor Statistics began collecting data more than 20 years ago. This comes as job openings—particularly in the food service and retail industries—are still near all-time highs. That means workers have a little leverage, and it’s starting to show: Compensation rose 8.4 percent for people in the service industry last year, comfortably outpacing the 4.4 percent wage growth rate among all jobs. Maybe now’s the time to test out an extended lunch break. —H. Claire Brown
