Category: Employers

MarketWatch (03/11/24) The U.S. labor market appears robust overall, with more than three million jobs added in 2023 and the unemployment rate hovering below 4% for two years, a feat last achieved in the 1960s. However, this growth is mainly concentrated in sectors like government, health care, and hospitality, leaving other industries with slower hiring or job losses. While workers in growing sectors enjoy job

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

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.

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

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