Category: Employers

Employers

Job Growth Remains Strong in February 2024

SHRM (03/08/24) In February, U.S. employers added 275,000 new jobs, maintaining the country’s historic labor market expansion, as reported by the U.S. Bureau of Labor Statistics (BLS). Job growth was strong across various sectors, although the unemployment rate slightly rose from 3.7 percent to 3.9 percent, while wage gains slowed, reflecting decreased inflation. Despite the robust headline growth number, there’s a cautionary note from economists

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Employers

Forecasted Stronger Economic Growth of 2.2% in 2024

National Association for Business Economics (02/26/24) According to the February NABE Outlook Survey, panelists have significantly raised their projections for U.S. economic growth in 2024, now expecting a 2.2% increase in inflation-adjusted gross domestic product compared to the previous forecast of 1.3% in December 2023. This upward revision is driven by improvements across key sectors including personal consumption, nonresidential and residential investments, and government expenditures.

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Employers

Can Americans Without a College Degree Solve the Labor Shortage?

Wall Street Journal (02/16/24) Weber, Lauren Employers are grappling with a persistent labor shortage, prompting a shift in hiring practices to include individuals without college degrees, who represent a significant portion of the U.S. population over 25. Despite efforts by companies like Medtronic, IBM, and Google to eliminate degree requirements, the increase in job opportunities for non-degree holders remains marginal. Factors contributing to this include

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Employers

Private Sector Growth Slows in January 2024

Staffing Industry Analysts (01/31/2024) Employment in the US private sector rose by 107,000 jobs in January, according to the ADP National Employment Report released. However, CNBC reported the figure is lower than the downwardly revised 158,000 in December 2023 and falls below the Dow Jones estimate for 150,000, indicating a potential slowdown in the US labor market for the year. ADP noted that the hiring slowdown

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Job Openings Rose to Three-Month High

Bloomberg (01/30/24) Saraiva, Augusta U.S. job openings unexpectedly climbed in December to the highest level in three months while fewer Americans quit their jobs. Vacancies rose to 9.0 million from an upwardly revised 8.9 million reading in the prior month, according to the U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Survey. The December figure exceeded all estimates in a Bloomberg poll of

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Employers

Real GDP Growth Stronger Than Expected

Staffing Industry Analysts (01/25/2024) US real gross domestic product increased at an annual rate of 3.3% in the fourth quarter of 2023, according to the advance estimate released by the US Bureau of Economic Analysis. The GDP increased more than economists had projected but less than the third-quarter growth of 4.9%. Economists polled by Reuters had forecast GDP rising at a 2.0% rate. Reuters reported the economy

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