Why Employment Contracts Matter

Why Employment Contracts Matter

Why is employer recruiting activity still declining in Q2 2023?

A new report from the Indeed Hiring Lab shows that employer recruiting activity has continued to drop in the second quarter of 2023, although it is still up from before the COVID-19 pandemic.

These figures vary widely across industries. For example, postings in white-collar professions like tech and marketing dropped much more than the average, such that they are below pre-pandemic levels now. Other sectors, such as food services, driving, and construction, have slowed down hiring but not as drastically. Finally, some sectors, like health care and education, are going up in terms of hiring.

It is important to note that layoff rates are still generally lower than pre-pandemic levels. Thus, net employment has managed to stay positive. Amid swirling news of impending economic troubles, this news gives us reason to be “optimistically cautious”.

What should you consider before signing an employment contract?

Just because job openings are down, however, does not mean it isn’t important to know what you’re getting into when signing an employment contract. An ounce of prevention is worth a pound of cure, and proper consultation on your agreement before you sign it can help avoid headaches down the road.

If you are being pressured to sign a contract quickly, you should pause and ask yourself why. A employment contract defines your rights and entitlements throughout your employment. It’s best to negotiate the terms before you begin. Negotiating goes beyond asking for an extra week’s vacation or slight bump in pay, but more importantly, negotiating on the legalese of the contract.

How can Whitten & Lublin assist with workplace issues?

To better understand your workplace rights or to explore the viability of a claim, we encourage employees and employers to seek legal advice. We at Whitten & Lublin are happy to provide insight and advice into your specific circumstances. If you are looking for employment lawyers and would like more information about what Whitten & Lublin can do for you, please contact us online or by phone at (416) 640-2667 today. Take control with us in your corner.

Author – Sohrab