Tagged: labor market

the new labor market 0

The Labor Market Has Totally Changed: Are You Really Ready?

The labor market has changed before our eyes. Employers and HR teams better watch out.

Over the last five decades baby boomers defined the workforce. Today things could not be more different, and this change impacts all of us.

I was born in the 1950s, growing up in a world where the middle class experienced ... Read more»

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Lynda Gratton, Professor at London Business School, And I Discuss How Life and Work Have Changed

This was such a fun discussion: Lynda Gratton, who wrote The Hundred Year Life, and I discuss the new world of work, careers, and policy issues we face. As I discuss in the beginning, the changing demographics and demands workers are essentially forcing companies to become what we call “Dynamic Organizations.” Note that this ... Read more»

Labor shortages are here

Why We Are Entering A Secular Labor Shortage

There are lots of economists waiting for the labor market to “cool,” enabling unemployment to rise and inflation to slow. Yet despite these projections, unemployment remains at a 45 year low and it’s still hard to hire. Why the change? Our research clearly shows that we’ve entered a whole new economy, one that makes labor ... Read more»

The Churning US Labor Market… And Why We Need “Labor Anthropologists.”

While I’m not formally trained as an economist, I spend so much time with companies HR departments I feel like we are “micro-economics” experts. So in a confusing time of paradoxical data (low unemployment during growing layoffs), let me explain what’s happening.

The US Labor Market Is A Churning Engine

While it’s tempting to think ... Read more»

The Hot Labor Market Has Almost Become A Crisis

Unbelievable. After four months of worries about a recession and a steady increase in interest rates, today the BLS reported that 528,000 jobs were created and the unemployment rate dropped to 3.5%. This is the lowest it has been since 1969, a year when I was in middle school.

And at the same time ... Read more»

Amazon Is Running Out Of Workers. You Can Avoid This Problem.

Despite the biting headlines about the stock market correction and possible economic slowdown, one thing is very clear. Jobs are being created.

This week’s BLS study shows that the US unemployment rate remains very low at 3.6% and is 2.2% lower than a year ago. In other words, companies are hiring.

EMSI believes there are ... Read more»

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Recruiting And Retention In Crisis. How Do We Build Trust, The Most Benefit Of All?

How do we attract, recruit, and retain people in this difficult labor market? Raise wages? Improve career options? Spend money on training? The answer is yes – all these things. But there’s something more.

In this podcast I talk about the new Edelman Trust Index and what it tells us about trust, and how you ... Read more»

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What Should We Do About Inflation?

In this podcast I discuss inflation. Why do we have it? How long will it be here? And most importantly of all, what does Inflation do to our wages, recruiting, and pay and benefits programs?

As you’ll hear, inflation really does change your perspective on all aspects of talent management: it pushes you to clarify ... Read more»

Welcome to 2022: Too Many Jobs, Not Enough People

Welcome to 2022. The job market is a bit crazy and we’re in for one of the most dynamic years in our lives. Let me try to explain what’s going on.

First, let’s discuss the Great Resignation (which I call The Great Migration). People are quitting their companies, changing careers, and upgrading their jobs ... Read more»

The Job Market Is Going Crazy And It’s Going To Get Worse. How Do We Recruit?

The labor market has gone a bit crazy. In the United States, there are more than 161 million people working and 15.7 million jobs open. This means that roughly one in 10 seats in your office are empty, and you’re competing with everyone else for staff.

Adding to this frenzy, the job creation continues. ... Read more»

Let’s Stop Calling It Labor: We’re All In The Services Business Now.

The job market is more dynamic than ever, and I think we can stop using the word “labor” to talk about what’s going on. Let me explain.

Government organizations like the Department of Labor, Bureau of Labor Statistics, and even labor unions are named around the concept of people as workers. In the industrial age ... Read more»

Why Service Workers Are Now More Important Than Software Engineers

Here we are, still facing the pandemic, and now we’re in a panic about service workers. Coffee shops, restaurants, and even gas stations can’t find staff, so they’re being “forced” to raise wages. In a recent NYT podcast a hotel owner bemoans how his employees keep asking for more money because “they don’t have the ... Read more»

Understanding The Exciting, New, Disrupted Labor Market

The Labor Market is changing fast. New jobs are being created at a record rate, remote work has now become standard fare, and the demand for service jobs is explosive. According to EMSI, there are 24% more jobs in the US than there were a year ago.

What are all these jobs? They’re in healthcare, ... Read more»

Corporate Talent: Where the US Labor Market is Going

One of the important things senior business and HR leaders must consider is the availability of labor – that is not just “people” but “the right people.”  Right now, with a 6.1% unemployment rate, the US labor market has undergone some major changes…. and such changes in the availability of work directly affect the skills ... Read more»