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»
Tagged: labor market
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»
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»
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.
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»
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. 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.
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»
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»
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»
While the post-pandemic economy grows, it’s now clear that the reduced fertility rate and accelerated retiring of baby boomers is leading to a labor shortage. While this seems new to many of you, it has happened before. In this podcast, I explain what Talent Acquisition is going to look like, and how new business strategies ... Read more»
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»
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»