Unemployment Rate
7.2%
The unemployment rate changed little from 4.3% in August. Nonfarm payroll employment increased by 142,000 and gains occurred in construction and health care. The labor force participation rate remained 62.7%. Average hourly earnings increased by 14 cents (0.4%) to $35.21. The average workweek for all employees edged up by 0.1 hours to 34.3 hours.
According to the American Staffing Association, temporary help employment was 1.70% of total nonfarm employment in August.
Major Indusstry Employment
Notable Gains and Losses
- Leisure and Hospitality: +46,000
- Health Care and Social Assistance: +44,100
- Construction: +34,000
- Government: +24,000
- Transportation and Warehousing: +7,900
- Temporary Help Services: -2,900
- Retail Trade: -11,100
- Manufacturing: -24,000
Read the full report at BLS.gov
Workforce and Economic News
Workplace Well-Being Has Declined in the U.S.
Futurity — September 3, 2024
An annual survey reveals a distinct drop in workplace well-being as employees experience reduced work-life balance once provided by flexibility. All industries surveyed showed downward trends, but healthcare, retail, and hospitality had the lowest levels of well-being.
Read more at Futurity.org.
How to Model Civility for a Better Workplace Culture
SHRM — September 6, 2024
Workers collectively experience 201 million acts of incivility daily. Amid political discord, leaders can demonstrate civility through emotional regulation and active listening when interacting with others in the workplace.
Read more at SHRM.org.
3 Hot HR Trends and Actionable Steps You Can Take
HR Morning — September 5, 2024
Trends for 2025 are already on the horizon. Artificial intelligence technology, succession-planning for an aging workforce, and an adaptive culture of continuous learning to mend skills gaps are challenges and opportunities companies may face.
Read more at HRMorning.com.
America Employed
More Than Two-Thirds of US Companies to Train In-House Talent Amid Cost-Cutting Strategies
ExpressPros.com — August 28, 2024
Increasing headcount through the end of 2024 may not be feasible for some U.S. companies, as 33% of hiring managers say budget constraints or the inability to hire is responsible for stagnant or decreasing hiring plans. However, reskilling current employees may be the key to balancing the desire to strengthen workforces while keeping costs in line, according to a recent Express Employment Professionals-Harris Poll survey.
More than two-thirds of hiring managers (68%)—an increase from Spring 2021 (60%)—report their company plans to reskill employees this year (i.e., train a current employee for a new position or teach them new skills for their current role). Among those who plan to reskill employees, the majority intend to offer company-led training sessions or programs either during or outside work hours (71%).
Read more at ExpressPros.com.
Employed Job Seekers Increasingly Wary of Unexpected Layoffs
ExpressPros.com — August 14, 2024
Amidst an unpredictable labor market, employed U.S. job seekers most commonly fear not receiving the salary increase or raise they deserve at their current company (44%), but another concern is on the rise that could indicate a growing shift in the workforce.
A recent Express Employment Professionals-Harris Poll survey reveals employed job seekers’ fear of losing their job before finding a new one has risen from previous waves and might support the perception the job market is becoming more competitive (31% vs. 28% Fall 2023, 24% Spring 2023). With those fears and actions in mind, it’s not too surprising the top reasons employed job seekers are looking for a new job are to find/negotiate for better compensation (46%), to find the work/life balance they want (41%), and/or to find better growth opportunities in their current industry (41%).
Read more at ExpressPros.com.
