ORLANDO, Fla. — In the past month, a half-dozen Central Florida companies have announced hundreds of layoffs.
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Most recently, Wells Fargo announced it’s laying off more than 100 workers in Orlando.
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A new inflation report out Wednesday shows inflation is down to 3%, just above the 2% economists try to target. People’s purchasing power is now climbing faster than inflation for the first time in a while.
Analysts said it’s too soon to tell if the hundreds of job losses companies are announcing are a trend or a coincidence.
“I think that this is not definitive,” university of Central Florida economist Sean Snaith said. “You know, it could be part of this natural churn, it could be an inkling of what’s to come.”
Snaith said most of the evidence nationally pointed to a strong labor market, though not as strong as last year. He said it would take a few more months to know if this wave was temporary or the start of something bigger.
In a statement, Wells Fargo said: “We regularly review and adjust staffing levels to align with market conditions and the needs of our businesses. We work very hard to identify opportunities for employees in other parts of the company so we can retain as many employees as possible. Where it’s not possible, we provide assistance, such as severance and career counseling.”
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