Despite expectations the Delta variant would constrain hiring initiatives throughout the fall, the economy continues growing, with 531,000 jobs filled in October. However, the labor market remains one of the most challenging for hiring and retaining talent in nearly half a century. Companies lack the materials and labor they need to keep up with consumer demand, and many workers who are not currently participating in the labor market are unlikely to return.
Unemployment rates dropped to 4.6% (from 4.8% in September), and labor force participation remains at a record low of 61.6% — with as many as 1 million workers leaving the labor market to start their own businesses and more than 3.2 million Americans having retired early since the pandemic began. Job openings remain at near record highs (i.e., 10.4 million), with only 0.7 unemployed workers available per job opening. Additionally, workers are quitting for better opportunities in record-high numbers.
Labor Market Analysis
Labor market analyses offer insight into current market demand across a spectrum of industries, labor categories and geographies. Our monthly market intelligence reports equip organizations and individuals with actionable data and insights into complex market trends that support informed decisions to drive business forward.
Read More www.astoncarter.com/en/insights/labor-reports/november-2021-labor-market-analysis
Labor Market Analysis
Labor market analyses offer insight into current market demand across a spectrum of industries, labor categories and geographies. Our monthly market intelligence reports equip organizations and individuals with actionable data and insights into complex market trends that support informed decisions to drive business forward.
Read More www.astoncarter.com/en/insights/labor-reports/september-2021-labor-market-analysis
Labor Market Analysis
Labor market analyses offer insight into current market demand across a spectrum of industries, labor categories and geographies. Our monthly market intelligence reports equip organizations and individuals with actionable data and insights into complex market trends that support informed decisions to drive business forward.
Read More www.astoncarter.com/en/insights/labor-reports/august-2021-labor-market-analysis
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