Unemployment Rate
3.7%
Total nonfarm payroll employment increased by 339,000 in May, and the unemployment rate rose by 0.3 percentage points to 3.7%. Job gains occurred in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.
Major Industry Employment
Notable Gains
- Health Care & Social Assistance: +74,600
- Professional and Business Services: +64,000
- Government: +56,000
- Construction: +25,000
- Transportation and Warehousing: +24,200
In May, average hourly earnings for all employees on private, nonfarm payrolls rose by 11 cents (0.3%) to $33.44. The average workweek edged down by 0.1 hour to 34.3 hours.
Read the Full Employment Situation Report at BLS.gov
Workforce and Economic News
The Post-Pandemic Workforce
Reuters — June 12, 2023
The pandemic sparked what seemed like a massive reshuffling of who does what in the American workforce. Keeping track of that shifting landscape falls to the Bureau of Labor Statistics, which every year details how many people do different types of jobs. Read more at Reuters.com.
Pace of Job Growth Likely to Slow in the Months Ahead
The Conference Board – June 2023 Report
The Conference Board Employment Trends Index (ETI) decreased in May to 116.15, down from an upwardly revised 116.79 in April 2023. The Employment Trends Index is a leading composite index for employment. Read more at Conference-Board.org.
Technology Alone Can’t Solve Supply Chain Workforce Issues
MH&L — June 11, 2023
The introduction of new workplace technologies should be designed with the human-technology relationship front and center. New technology investments must be made side-by-side with equivalent investments in workforce training, skills development, and knowledge curation. Read more at MHLNews.com.
America Employed
Americans are Burnt Out at Work and Employers Must Step In
ExpressPros.com — May 24, 2023
Gaps caused by high turnover at U.S. companies are straining the workforce, as 79% of employed Americans say they have felt burnt out in their careers, including 35% who say they are currently experiencing this mental and physical exhaustion. And these workers aren’t alone. Nearly 9 in 10 job seekers say the same with 45% reporting they are currently burnt out.
Allowing flexible work schedules (53%), providing incentives/bonuses (52%), recognizing employees for a job well done (46%), and encouraging time off (46%) are among the top actions employees feel companies could take to help counteract employee burnout. Jobseekers, specifically, also mention prioritizing the health and safety of employees (46%). Read more at ExpressPros.com.
Eyeing Productivity, Jobseekers Want Control Over Their Schedules and Employers May Agree
ExpressPros.com — June 14, 2023
American jobseekers and companies may be rethinking the traditional 40-hour work week as long as productivity remains at, or exceeds, current levels.
When given the option of working an 8-hour workday (but flexible start time), traditional 9am to 5pm or a compressed schedule such as 10 hours per day for 4 days a week, jobseekers most commonly pick an 8-hour day with a flexible start time (40%). Nearly 1 in 5 (18%) would prefer a compressed schedule.
