A Discussion with Geoffrey Allen Wall About His Successful Career in the Real Estate Development Industry

Geoffrey Allen Wall is a semi-retired real estate developer currently consulting on the development of several self-sustaining tropical resorts and islands, specifically overwater bungalows located in the Caribbean. Widely viewed as an expert in the field by his peers, Geoffrey possesses an innate and lifelong passion for developing raw land into new and exciting enterprises. 

Early in his career, he became keenly interested in cutting-edge sustainable technologies and green initiatives as they pertain to real estate development. An early adopter, Geoffrey Allen Wall has studied such promising trends as solar, tidal, wind and geothermal energy generation, ultimately incorporating them into most of his development planning. In fact, one of the overarching themes of the projects Geoffrey designs is leaving as small a carbon footprint as possible while still providing a great and memorable experience to clients, buyers, and visitors alike.

Geoffrey was raised in Vancouver, British Columbia in Canada and began his formal training by attending Langara College for Business Management. While he was still a student, he purchased his first property, redesigned it, and flipped it for a profit. The success of the project and resulting sale made a powerful impact on the young Geoffrey Allen Wall, and his resolve to pursue a career in real estate development was strengthened. After finishing school, he opened a business dedicated to designing and renovating houses, developing land, and purchasing land assets then parceling them for sale. The business thrived for many years before he made the choice to partially retire.

These days, Geoffrey spends his time participating in outdoor activities. He enjoys hiking and coaching youth sports, specifically soccer, baseball, and rugby. Despite his partial retirement, Geoffrey Allen Wall remains actively involved in the real estate industry and continues to consult on development projects. He is dedicated to making a positive impact on the community through sustainable development and committed to creating a better future for generations to come.

Why did you decide to create your own business?

Put simply, I knew I could succeed as a real estate developer, and I knew I could perform best as the master of my own actions. It just made sense to create my own business.

What do you love most about the industry you are in?

There’s a great sense of satisfaction I get when I see a property or a block of properties that I’ve had a large hand in developing. There’s a community of condos on the west side of Vancouver that I’m particularly proud of, and every time I drive by it with my kids in the car, I turn to them and say, “I was a part of building that neighborhood.” That feeling never gets old.

What would you tell others looking to get into your industry?

In real estate development, it’s important to make sure things don’t fall behind schedule. Needless to say, suitable time management is crucial. That’s why I usually start work around 5 am, so that I can finish by 3:30 pm and go home to spend time with my family. I would advise anyone thinking of entering this industry to do a variation of the same.

What keeps you motivated?

Making sure my business is healthy and my family is provided for gives me all the motivation I need.

If you could change one thing you did in the beginning of your career, what would it be?

Early in my career, there was a time when I didn’t do enough research and due diligence on a project, and it came back to haunt me. That project is still my biggest professional regret. I overcame this issue by learning from my mistake and making sure that I always properly prepare and perform due diligence before accepting any opportunity.

How do you maintain a work life balance? 

Exercise. I exercise every day. It helps me to clear my head and disconnect from life’s stresses for a bit. I also try to get everyone I work with to do some sort of physical activity outside on a regular basis. I’m not talking about climbing a mountain—after all, everyone has their own limitations. But whether it’s walking, running, or riding a bike, I think everyone can benefit from consistent exercise. It gets the endorphins pumping, and it’s sure better than working nonstop.

What trends in your industry excite you? 

Over the last few decades, there’s been a growing movement of states, companies, organizations, and individuals trying to lower their energy consumption. That trend, as well as people endeavoring to become more eco-friendly generally is very exciting to me. Whether it takes the form of more efficiently manufactured products, recycled products, reusable products, or just being cognizant of minimizing the amount of materials you use, it’s all helpful in the effort to minimize the damage caused to the planet by human activities. I’m also a big fan of projects that feature a large amount of green space. I think it’s a much better approach to preserve existing greenery and work around it rather than mow down every single tree to put up a big box, and once that’s finished, plant a couple of token trees.

What is one piece of advice that you have never forgotten?

Some advice my dad gave me, which did not sink in early enough, was to cultivate an excellent work ethic. My parents tried to instill in me that having a great work ethic is the best way to a successful career. Unfortunately, it was not until my dad had passed that the truth of that advice really hit home. However, I’m happy to say that I’m now very conscientious in this regard and hold myself to an extremely high standard. My dad was right, of course; it has paid great dividends in my career.

An Interview with Thomas Brinkly About His Experiences as the Founder, Owner, and Operator of Top Tier Marketing Academy

Thomas Brinkly was born in Bellevue, Washington. After 9th grade, he left public school in favor of trade school and studied carpentry. Among his proudest achievements are graduating from trade school, enlisting in the US Marine Corps, and being clean and sober for over a decade. These days, Thomas Brinkly is the owner and operator of my, as well as its original founder. He currently lives in Monroe, Washington with his wife and children. When not working, Thomas enjoys meditating, traveling, and spending quiet nights at home time with his family.

Why did you decide to create your own business?

After much trial and error at the beginning of my career, I ultimately found that helping people was not only what I was good at, but also what I most enjoyed doing. Eventually, that led to me creating my own company. Now, I spend my workdays making sure my customers are satisfied and my employees are accomplishing their career goals, and I couldn’t be happier.

What do you love most about the industry you are in?

I love thinking up new ideas and I love talking to people, and those two things cross over all the time during the normal course of business at Top Tier Marketing Academy. Honestly, sometimes it’s tough to come up with new ideas after doing what I’ve done for so long, so I make sure to keep the lines of communication open with my partners, managers, and other staff. We spend a good deal of time discussing concepts, thinking out loud, and brainstorming until a good idea comes up.

What would you tell others looking to get into your industry?

You have to be willing to take calculated risks in order to find genuine success. You have to try. And you have to put in a lot of hard work, too. 

What keeps you motivated?

Furthering the success of Top Tier Marketing Academy and delivering a quality product to its customers provides me with more than ample motivation.

What is the biggest lesson you have learned managing your business?

The importance of transparency has been one of the biggest lessons I’ve learned through managing my business. Even though I own the company and have a lot of employees, I always make sure that everybody knows what’s going on. First, a standard policy of total transparency really aids in creating a smooth workflow, and second it makes everyone involved feel valued.

Who has been a role model to you and why?

I have a couple different men in my life that I look up to. When I find myself in a bad spot or feeling overwhelmed, I give one of them a call to talk about my situation. They always take the time to listen to me and offer advice on how I might come up with a solution.

How do you maintain a work life balance? 

I make sure that I spend at least an hour a day alone. I’d recommend anybody to do that in order to work on their mind and their spirituality. Along those lines, I also practice meditation.

What traits do you possess that make you a successful leader?

I believe the people that know me well would cite my capacity for caring and compassion as a couple of my best leadership traits.

What is your biggest accomplishment? 

Professionally, the success of my company is my biggest accomplishment. Personally, raising a happy, healthy, and loving family has brought me the most joy and fulfillment.

What trends in your industry excite you? 

I love the artificial intelligence trend. I don’t know much about it right now, but it excites me to see how far and how fast we as a society are developing that technology.

What has been the hardest obstacle you’ve overcome? 

I didn’t get past 9th grade. I regret that. But from that point on, I decided to work twice as hard as everybody else to get what I want.

What is one piece of advice that you have never forgotten?

When I was younger, I tended to give up on myself too soon because I didn’t think I could do certain things. Then, someone told me that my mind is stronger than I realize it is, and that insight had a really positive impact on me. I’ve always remembered that piece of advice, and it’s served me well over the years.

What’s one piece of advice you would give to others? 

I think it would be some variation of my previous answer. “Your mind is stronger than you think it is,” or some other words to that effect.

What is the biggest life lesson you have learned?

I believe that there’s more value in relationships than money.

Outside of work, what defines you as a person? 

As I mentioned before, I practice meditation. Being able to take a certain amount of time each day to clear my mind, center myself, and find some semblance of peace really helps me focus on all the other aspects of my life. It also puts everything into perspective. Because of all these reasons, I think meditation is a big part of who I am.

Explain the proudest day of your professional life. 

The day I officially founded Top Tier Marketing Academy was the proudest day of my professional life without question.

Behind the Scenes: A Look at the Unsung Heroes of Commercial Cleaning

As we go through our daily lives, it’s easy to take for granted the clean and well-maintained spaces we work in or visit. But have you ever stopped to think about who’s responsible for keeping those spaces spotless? It’s the commercial cleaners who work tirelessly behind the scenes, often without recognition. These cleaners are the unsung heroes of the commercial cleaning industry, and they play an essential role in keeping our workplaces, public spaces, and homes clean and safe.

In this blog post, we’ll take a closer look at the daily lives of these unsung heroes, and the important work they undertake to keep our environments clean and hygienic. We’ll explore the demands and challenges of their work and the skills and expertise needed to succeed in this profession.

Click here to hire the best commercial cleaning service.

1. The Importance of Commercial Cleaning

As the COVID-19 pandemic continues to create a significant impact on the world, the importance of maintaining a clean and hygienic environment has never been more critical. However, achieving and maintaining this level of cleanliness requires more than just a daily sweep and mop. Commercial cleaning services play a vital role in keeping businesses, schools, healthcare facilities, and other public spaces clean and safe. Ensuring thorough and consistent cleaning of high-traffic areas, such as restrooms and lobbies, helps to prevent the spread of infectious diseases and creates a healthier environment for employees and customers alike.

2. The Roles of Custodians and Janitors

Commercial cleaning is a demanding and often thankless role. While businesses rely heavily on the upkeep and maintenance of their facilities, the work done behind the scenes is often overlooked. Custodians and janitors play a critical role in the upkeep and sanitation of commercial spaces, and are essential in creating a clean and safe environment for employees, visitors and customers. Custodians are responsible for the overall cleaning and maintenance of a facility, while janitors focus more specifically on tasks such as carpet cleaning, floor waxing, and window washing.

3. The Training Required for Commercial Cleaners

Commercial cleaners play a vital role in maintaining the cleanliness and hygiene of various businesses, from offices and schools to hospitals and factories. To become a professional commercial cleaner, individuals must complete extensive training programs to master a variety of cleaning techniques, sanitation processes, and equipment handling. These training programs cover everything from proper chemical usage to safe lifting and handling techniques to ensure the safety of not only the cleaners themselves but also the people who work and visit the facilities they clean.

4. The Tools and Equipment Used for Cleaning

A thorough and effective cleaning requires the use of specialized equipment designed for various cleaning tasks. These tools and equipment include vacuums for carpet and upholstery, scrubbers for hard flooring, high-pressure washers for exterior surfaces, and specialized chemicals and sanitizers for disinfecting and cleaning. Each tool and piece of equipment serves a specific purpose, but they all play a vital role in achieving the end goal of a spotless and hygienic environment. Regular maintenance of these tools and equipment is necessary to ensure their longevity and continued effectiveness in the cleaning process.

5. The Impact of Unsung Heroes on Public Health and Safety

As the COVID-19 pandemic continues to wreak havoc globally, we have all come to appreciate the critical role played by unsung heroes in maintaining a clean and safe environment. These heroes are the essential workers in the commercial cleaning industry who operate behind the scenes, often unnoticed, but who are essential to the maintenance of hygienic environments in various settings. Their work plays a crucial role in reducing the spread of infectious diseases and promoting the health and safety of individuals in the public domain.

In conclusion, commercial cleaning is an essential service that often goes unnoticed, but the people behind the scenes play a critical role in maintaining a healthy and safe environment for businesses, employees, and customers alike. Without the unsung heroes of commercial cleaning, many organizations would struggle to maintain productivity, reputation, and overall success. Therefore, it’s crucial to acknowledge and appreciate their hard work, dedication, and commitment to their craft. So, the next time you walk into a spotless office or building, take a moment to think about the unsung heroes who made it possible.

Lamborghini get massive boost with Revuelto demand

Lamborghini — There are plenty of luxury cars on the market for those who can afford them, but the wealthy appear to be more inclined towards Lamborghinis.

The Italian luxury sports car brand has been a symbol of wealth for the past two decades, and its popularity seems unlikely to die down in the near future.

Every so often, the company releases a unique and limited edition variant.

Recently, a hybrid supercar reached a staggering $600,000 buyout, which is positive news for the brand as it suggests the brand’s future is in safe hands.

The news

Lamborghini CEO Stephan Winkelmann revealed that its latest hybrid supercar underwent a quick sellout.

For Winkelmann, the purchase is proof that wealthy car buyers are still spending.

The company already has a waiting list for the Revuelto, Lamborghini’s first ever plug-in hybrid that launched in March.

Furthermore, the luxury sports car brand has two years worth of order for the hybrid supercar.

The orders

The globe is experiencing an economic meltdown as financial markets are going through a turmoil, while recent months have also seen banking systems hitting a shakeup.

Despite the ongoing chaos, the orders still came through.

“The resiliency of our customers, with everything that is happening in the last 24 months, is incredible,” said Winkelmann.

“We don’t see any slowdown in order intake for buying cars like ours.”

The pouring orders for the Lamborghini Revuelto and other supercars show the continued strength of the wealthy consumer amid slowdowns in other segments of the consumer economy.

Data also revealed that the share price of Ferrari is up by 27% in 2023, flying high on the back of continued demand for trophy cars, particularly in the United States.

In 2022, several luxury car brands reported record sales and production, including:

  • Bentley
  • Ferrari
  • Rolls Royce

Production and the new landscape

Lamborghini hit a record manufacturing of 9,233 vehicles worldwide in 2022, an increase of 10% compared to the year before.

Despite the good news, Stephan Winkelmann is wary of counting his chickens before the eggs hatch, saying it’s too early to anticipate production in 2023.

However, if the orders continue at the same pace of the first quarter, Lamborghini could either match or go beyond last year’s record.

Regardless, the greatest challenge imposed on the luxury sports car manufacturer is how it can define its brand in an age where electric cars have been the consumers’ choice.

Supercars are prized for their powerful, thunderous engineers, but makers have shifted their strategies.

Instead, they are focused on developing silent, high-performing electric vehicles that can be distinguished from other brands like Tesla, allowing them to command higher premiums.

Read also: Inflation remains a thorn, but other problems loom

Moving forward

After the launch of the Revelto, Lamborghini has made it a goal to launch every model as a hybrid.

Plug-in versions of the Urus SUV and Huracan sportscars are expected to hit the pavement in the following years.

Additionally, Lamborghini is looking to launch its first fully electric model between 2028 and 2029.

The Revuelto

The launch of the Revuelto indicates that Lamborghini is moving to a new direction.

The luxury sports car manufacturer has designed the hybrid vehicle to become the best of both worlds, installing three electric motors with a new 6.5 liter, naturally aspirated V12 engineer to create a combined horsepower of 1,001.

The hybrid has a top speed of over 217 miles per hour, and it can go from 0 to 62 mph in under 2.5 seconds.

The hybridization allows the Revuelto to be 30% more fuel efficient.

According to car collectors, part of the appeal in the latest Lamborghini model is owning one of the last generations of V12 supercars sold and built.

“The team worked hard on this car for years,” said Stephan Winkelmann.

“The reception of the customers is positive in two ways, because on one hand, they recognize it’s a true Lamborghini. And on the other side, there is no fear about having a hybridized car.”

The Lamborghini CEO also said the Revuelto is likely to sell well, if not better than its top-of-the-line Aventador model, which the Revuelto is replacing.

Market strength

The luxury car manufacturer has sold over 10,000 Aventadors over its endeavor.

Winkelmann said the demand has been particularly strong in the United States, the brand’s largest market.

However, the China market remains unknown as the country only recently reopened from lockdown.

South Korea witnessed an explosive demand in 2022, while Australia and Central Europe have also been strong.

“In the US, California, Florida, Texas, and the Northeast are always good for positive surprises,” said Winkelmann.

The Revuelto will undergo production in the second half of 2023, with the first cars making their way to the United States in the fourth quarter.

“And then next year, we go full speed and we will see how the market is moving,” said the Lamborghini CEO.

Inflation remains a thorn, but other problems loom

Inflation — More than a year later, persistent inflation continues to be a thorn in the Federal Reserve’s shoes.

Even with the banking sector’s current predicament and investors on edge after two prominent banks failing in March, inflation remains the Fed’s top concern.

However, this week’s Consumer Price Index (CPI) could determine if the central bank will need to raise rates again in May.

The CPI is set to be announced on Wednesday at 8:30 in the morning.

The upcoming index could also affect markets as Wall Street has shifted its focus from the financial system to the economy.

Greg McBride, the chief analyst at Bankrate noted, “Inflation is no less relevant than it has been for the past two years.”

“The Consumer Price remains the most-watched monthly economic report.”

What’s happening?

According to CPI readings, inflation levels have cooled down for five consecutive months.

However, they are still close to historic highs at 6%, which is above the Federal Reserve’s goal of 2%.

The March reading showed prices increasing between January and February.

Greg McBride said the increase didn’t spur any confidence of the 2% target being around.

For March, economists projected a 0.4% monthly increase in the CPI, aligning with the September – February average, keeping year-over-year averages high.

But it has presented the question of how to make the Federal Reserve and investors happy.

McBride offer some insight, saying:

“To feel good about where inflation is headed, we need to see more than just moderation in the rate of both headline and core inflation.”

“We also need to see moderation in price pressures across a wide range of categories that are staples of the household budget: shelter, food, electricity, motor vehicle insurance, apparel, and household furnishings and operations.”

However, Greg Bassuk, the CEO of AXS Investments, noted that resiliently elevated prices could potentially lead to another Fed rate hike in May.

“That’s notwithstanding the slowing economy that has been weighed down even more heavily by the banking system debacle,” added Bassuk.

Effect on the market

According to US Bank Wealth Management chief equity strategist Terry Sandven, the week is set up for increased stock volatility, stuck between inflation data and the start of the first-quarter corporate earnings season.

Three prominent US banks are set to report this Friday, including:

  • JPMorgan Chase
  • Wells Fargo
  • Citigroup

“Persistent inflation, rising interest rates and uncertainty over the pace of earnings growth in 2023 remain headwinds to advancing equity prices,” said Sandven.

“Each will be in focus this week.”

Read also: Business Intelligence—Importance to Business’s Growth

Bank stocks

On Monday, TD Ameritrade released its March Investor Movement Index, which tracks retail investor activities.

According to the report, retail traders continued to be equities net buyers in March, which means Main Street traders are buying most of the new stock in the United States, not larger financial institutions.

The increasing power of the retail investor has been a continued trend since the onset of the pandemic, fueled by several factors like:

  • Stimulus cash
  • Easier access to trading platforms
  • Further market education

Recently, larger companies have started changing their investor relations strategies to accommodate retail investors.

Even ‘smart money’ traders have turned to Reddit for stock tips.

TD Ameritrade found  that the strongest buying interest is focused on the Financial sector, which comes despite macroeconomic catalysts in March like the collapse of Silicon Valley Bank and Credit Suisse’s emergency sale.

Lorraine Gavican-Kerr, TD Ameritrade’s managing director, said:

“March was full of surprises, but the overall impact among TD Ameritrade retail clients when it came to exposure to the markets was neutral.”

“For the second month in a row, our clients were net buyers of equities, seemingly eyeing an opportunity to buy into the Financial sector’s lows and to sell off the highs in Information Technology.”

TD Ameritrade noted that the five most popular stocks purchased were:

  • Amazon
  • Ford Motors
  • First Republic Bank
  • Rivian
  • Tesla

Meanwhile, retail investors were net sellers of:

  • Advanced Micro Devises
  • Apple
  • Intel
  • Meta

Increased short-term inflation expectations

The Federal Reserve Bank of New York’s March Survey of Consumer Expectations was released on Monday.

It said that inflation expectations have increased at the short-term and medium-term horizons.

According to the survey, inflation expectations for 2023 have increased by half a percentage point to 4.7%, the first increase since October 2022.

The survey questions around 1,300 household heads in the United States each month.

It found that respondents were more pessimistic about the US labor market’s outlook compared to previous months.

Meanwhile, the New York Fed found that unemployment expectations increased by 1.3 percentage points, going up to 40.7%.

The recent banking crisis and looming credit crunch have raised concerns in US households.

The Federal Reserve reported that perception of credit access compared to 2022 fell in March.

The share of households saying it’s harder to obtain credit than in 2022 hit an all-time high.

Business Intelligence—Importance to Business’s Growth

The importance of business intelligence (BI) cannot be overstated in the modern business world. Business intelligence involves gathering and evaluating data to produce insightful findings that can be applied to strategic business decision-making. 

Businesses can improve their competitive position in various industries by utilizing BI tools and techniques. This article will review why BI is essential to any organization’s market growth strategies.  

Improved Decision Making 

One of the primary benefits of business intelligence is that it provides organizations with the necessary data to make informed decisions. With BI tools, businesses can monitor key performance indicators (KPIs) and gain insights into their operations. This information allows decision-makers to identify areas of weakness and make data-driven decisions to improve their performance. 

For example, a company can use BI to analyze customer feedback and identify areas to improve its product or service. This information can help the company make informed decisions on what changes to improve customer satisfaction and ultimately increase its revenue.

Increased Efficiency 

Business intelligence can help organizations increase efficiency by providing insights into their internal processes. Businesses can identify inefficiencies and streamline operations by analyzing employee performance, resource allocation, and workflow. Increased productivity and expense savings may result from this.

As an example, a company can use BI to analyze employee performance metrics and identify areas where employees struggle. This information can be used to provide targeted training and support, which can help employees improve their performance and productivity.

Better Customer Insights 

BI can help organizations better understand their customers by analyzing customer data. Organizations can gain insights into customers’ wants and needs by tracking customer behavior, preferences, and feedback. This information can be used to improve products and services and create targeted online web marketing campaigns.

For instance, a company can use BI to analyze customer purchase patterns and identify the most popular products. This information can be used to develop targeted marketing campaigns focusing on these popular products, increasing the chances of sales.

Competitive Advantage 

In today’s business world, it is essential to have a competitive advantage. Business Intelligence can give organizations the necessary insights to gain an edge over their competitors. Businesses can identify opportunities and make informed decisions to stay ahead by analyzing market trends, customer behavior, and competition.

For example, a company can use BI to analyze its competitors’ pricing strategies and identify areas where it can offer better value to customers. This information can be used to adjust pricing strategies and gain a competitive advantage.

Improved Financial Management 

Business Intelligence can help organizations improve their financial management by providing real-time insights into financial data. By analyzing financial data, businesses can identify waste areas, reduce costs, and improve profitability. Making wise decisions about resource allocation and budgeting is possible with the help of this knowledge.

For example, a company can use BI to analyze sales data and identify the most profitable products. This information can be used to adjust pricing strategies and resource allocation, helping the company increase profitability.

Predictive Analytics 

Using predictive analytics, business intelligence can help organizations predict future trends and outcomes. By analyzing historical data, businesses can identify patterns and predict future performance. 

As another example, a company can use BI to analyze sales data from the past few years and identify trends. This information can predict future sales and adjust marketing strategies accordingly.


Business Intelligence is crucial for the success of any organization, so it counts as one of the smart business investments. BI can help organizations make informed decisions, increase efficiency, gain a competitive advantage, and improve profitability by providing valuable insights into operations, customer behavior, and market trends. Businesses can remain ahead of the competition and find long-term success with the right BI tools and approaches.

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Labor market sees increase in March jobs report

Labor market — In March, US employers added 236,000 jobs, which came below expectations.

It also suggests that the labor market is cooling off following as the Federal Reserve’s yearlong rate hikes attempt to curb inflation.

The Bureau of Labor Statistics released the March jobs report on Friday, showing the unemployment rate 

The report

According to Refinitiv, economists expected a net gain of 239,000 jobs for the month and a jobless rate of 3.6%.

It is the first jobs report in 12 months that fell below expectations.

As the US labor market continued along despite other areas of the economy slowing from the interest rate hikes, it is also showing signs of slowdown.

Glassdoor lead economist Daniel Zhao released a statement saying:

“The labor market in March came in like a lion with a banking crisis and more layoffs, and is going out like a lamb with a solid jobs report.”

“The labor market is still strong, but it’s gliding slowly back down to earth.”

In the last 12 months, the labor market saw a net gain of more than 4.1 million jobs, with an average of 345,417 jobs gained monthly, which helped drop unemployment rates to decades-low levels.

The March total is a notable reduction from February’s revised 326,000 jobs gain and January’s massive jobs number, originally 517,000 but revised down to 472,000.

The 236,000 jobs added over March is the smallest monthly gain since the December 2020 decline.

Apart from losses seen in the first year of the pandemic, it is also the smallest monthly jobs gain since December 2019.

However, the job market remains higher than pre-pandemic norms.

Between 2010 and 2019, the economy added over 183,000 jobs monthly.

On Friday morning, President Joe Biden released a statement calling the March jobs report a good one for hard-working Americans.

Job gains

Several industries like government, health care, leisure and hospitality led the way in job gains.

Meanwhile, other industries are reporting monthly losses, including:

  • Retail trade
  • Temporary help
  • Manufacturing
  • Construction
  • Information services

“Industries that were facing acute labor shortages, particularly hospitality, are really making gains in getting the workforces back what they needed to,” said ManpowerGroup senior vice president Jim McCoy.

“We saw some moderation in a few other sectors like government, like health care and then pretty much stability across most of the sectors.”

“You have a few drops – retail dropped 15,000 – but in the grand scheme of things, I wouldn’t consider that an alarming drop at all; that’s just a normal wobble within a course of a month.”

Leisure and hospitality have yet to recover employment back to pre-pandemic levels.

Throughout March, the industry was over 368,000 jobs, nearly 2.2% shy of February 2020 employment levels.

Read also: CPI set to influence the Fed’s 2023 plans for inflation

Anticipated cooling

Labor market data released earlier teed up a moderate jobs report.

Job openings fell to 9.93 million, the first sub-10 million total in almost a decade.

ADP’s private-sector job gains came in at 145,000 for March, which fell below the expectation of 200,000.

The Challenger Report showed jobs cuts were increasing as 89,703 layoffs were announced in March, a 15% uptick from February.

Jobless claims hit 1.823 million, a level last seen in December 2021.

For months, weekly jobless claims data showed a tight labor market with little impact from the building waves of mass layoffs from tech and other industry firms.

However, the Department of Labor’s Thursday release included several significant revisions and seasonal adjustments to reflect the labor market dynamics after the pandemic.

The revised data showed an upward trajectory in claims since early February.

The four-week moving average rose to 240,000 from 200,000, said Moody’s Analytics director Dante DeAntonio.

“The new revised path [jobless] claims more closely aligns with an increase of job cut announcements in recent months and also with the slowdown in payroll growth,” said DeAntonio.

“[Unemployment insurance] claims data will continue to provide an early signal into whether the labor market is likely to cool further in the coming months.”

Some of the leading indications in the March jobs report moved in a direction that indicated further cooling.

The average workweek went from 34.5 hours to 34.4 hours, showing that employers could be cutting hours.

Temporary employment also fell, while the construction industry lost jobs for the first time since January 2022.

“I wouldn’t necessarily call it an alarm bell at the moment, but those are the sectors [and indicators] you’re going to want to watch very closely,” said McCoy.

Regardless, Amy Glaser of Adecco noted that the labor market continues to show resilience.

“In reality, it’s more of a rebalancing from the white-hot market post-pandemic,” said Glaser.

“We’ve heard a lot about layoffs, but there were still so many unfulfilled jobs in the tech sector that what we’re seeing is a lot of folks who have been displaced or lost their jobs in the last few months, are very quickly finding new opportunities.”

Image source: The Hill