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All indications point to a major hiring boom this spring/summer. In March, consumer confidence hit its highest level since the start of the pandemic while the International Monetary Fund recently predicted that the U.S. economy will grow by over 6% this year.
In many industries that were hit hard by the global pandemic, such as travel, hospitality/lodging and dining, consumer pent-up demand will drive a rapid increase in hiring. The costs associated with luring top talent, however, will be significant along with the pressure on companies to retain employees and avoid the expenses related to high turnover.
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