Category: Employers

Reuters (04/04/24) Despite a four-year strong overall job market, U.S. factory employment has remained stagnant for over a year due to high interest rates, a slowing economy, and a drop in demand for many manufactured goods after the pandemic. However, experts predict that manufacturing investments and potential interest-rate cuts could lead to job growth in the future, as evidenced by companies hiring in anticipation of

ADP News Release (04/03/24) In March, private sector employment surged by 184,000 jobs, accompanied by a significant 5.1% year-to-year increase in annual pay, as reported by the March ADP National Employment Report. “March was surprising not just for the pay gains, but the sectors that recorded them. The three biggest increases for job-changers were in construction, financial services, and manufacturing,” said Nela Richardson, chief economist,

Staffing Industry Analysts (04/03/24) The US manufacturing sector could require 3.8 million new workers by 2033, but over half of these positions might remain vacant due to the skills gap and a shortage of applicants. Digital skills are increasingly essential in manufacturing, with a notable surge in demand for skills such as simulation software expertise. Fast-growing roles in the sector include statisticians, data scientists, engineers,

U.S. Bureau of Labor Statistics (04/02/24) In February, the number of job openings changed little at 8.8 million, according to the U.S. Bureau of Labor Statistics. Both hires and separations saw minimal change, with 5.8 million hires and 5.6 million total separations (including 3.5 million quits and 1.7 million layoffs and discharges, which also changed little). Job openings increased in finance and insurance (+126,000); state

MarketWatch (03/22/24) The Economic Policy Institute’s report reveals that from 2019 to 2023, the real wages of the lowest-paid workers surged by 12.1%, outpacing other earners, due to minimum wage hikes, stimulus payments, and a tight labor market. However, despite these gains, the lowest-earning 10% of workers still earn less than $13.52 per hour. Certain low-wage workers, particularly job-switchers, are better off post-pandemic, narrowing the

USA Today (03/18/24) Workers in certain industries continue to quit their jobs at elevated rates, often to secure better-paying positions. Sectors experiencing higher turnover are offering substantial pay increases to attract and retain talent. Personal care services (+0.4%); transportation, warehousing, and utilities (+0.2%); information (+0.1%); and manufacturing (+0.1%), are experiencing higher quits rates compared to pre-pandemic levels according to a Moody’s Analytics analysis of data