Although the public sector saw a significant loss of jobs due to a decrease in local education employment (i.e., a loss of 144,000 filled jobs month over month), 317,000 jobs were added by private companies. Seasonal hiring is in full swing, yet many employers continue to face significant challenges in filling open positions and retaining existing employees.
Millions of jobs remain unfilled, and record-high numbers of workers are quitting (i.e., 4.3 million employees left jobs in August). With only 0.8 unemployed workers available per job opening, employers are scrambling to compete for and retain talent by providing incentives such as starting pay raises and bonuses, with year-over-year pay rates increasing 5.5% for nonsupervisory workers.
In this time of immense labor demand, the labor supply has diminished —with labor force participation dropping to 61.6% and 3 million fewer people working or looking for work than before the pandemic.
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/october-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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