Unemployment Rate — 3.5%
The unemployment rate decreased slightly from 3.6% in June. In July, nonfarm payroll employment increased by 187,000, and average hourly earnings rose by 14 cents (0.4%) to $33.74. For the fifth consecutive month, the labor force participation rate held steady at 62.6%.
Health care, social assistance, financial activities, and wholesale trade were industries with gains in July. Construction continued its upward trend in line with an average monthly gain of 17,000 over the past year, and leisure and hospitality, and professional and business services saw little change.
Major Industry Employment
Notable Movement
- Health Care and Social Assistance: +87,100
- Construction: +19,000
- Financial Activities: +19,000
- Goods-producing: +18,000
- Wholesale Trade: +17,900
- Leisure and Hospitality: +17,000
- Temporary Help Services: -22,100
- Information: -12,000
The average workweek for all employees on private nonfarm payrolls edged down by 0.1 hour to 34.3 hours in July. The average workweek for manufacturing remained unchanged at 40.1 hours.
Read the full report at BLS.gov
Workforce and Economic News
The Future of the Workforce Will Depend on Policy Decisions
Material Handling and Logistics — August 2, 2023
Labor force participation is still behind pre-pandemic levels, and a new study says policy changes are needed to transform the workplace. The growing skills gap, artificial intelligence, and new technology are challenges that can be addressed by enacting several policy proposals. Read more at MHLNews.com.
Growth in Major States Bodes Well for National Economy
U.S. News — August 2, 2023
The latest report on the nation’s gross domestic product shows a better-than-expected 2.4% annual growth rate in the second quarter, proving the U.S. economy is picking up steam as it enters the second half of the year. But maybe that shouldn’t be much of a surprise, as it’s clear some of the largest U.S. states were exhibiting evidence of strong gains in their economies. Read more at USNews.com.
Even Zoom is Making its Staff Return to the Office
CNN — August 7, 2023
After powering the remote work revolution during the pandemic, Zoom is now calling its employees back to the office on a hybrid schedule. The videoconference service that gained popularity in 2020 is following a return-to-office trend that’s sweeping tech companies like Google, Amazon, and Salesforce. Read more at CNN.com.
America Employed
Employers Prefer In-Person Interviews, but 40% Fold in Virtual Components
ExpressPros.com — July 26, 2023
Job seekers should prepare to meet with potential employers at least once during the hiring process, as 51% of U.S. hiring managers say they prefer to interview candidates face-to-face instead of through a screen or phone. However, the lasting effects of the COVID-19 pandemic are still evident as 8% of hiring managers only conduct interviews virtually, while another 40% use a combination of in-person and virtual. This is according to a recent survey from The Harris Poll commissioned by Express Employment Professionals.
If an applicant shows up at a business unannounced to secure employment, a majority of employers describe the tactic positively, saying it shows motivation (57%), initiative (46%), and that the candidate is driven (40%). Only 35% view this behavior as negative with descriptions such as obsessive (19%), creepy (16%), or out-of-date (14%). Read more at ExpressPros.com.
Two Interviews is the Magic Number for Job Seekers, but Some Employers Push for Five
ExpressPros.com — July 12, 2023
American job seekers and employers agree that more than one interview is necessary when filling open positions, but while candidates say two should suffice, some hiring managers believe that number should be closer to five. This is according to a recent survey from The Harris Poll commissioned by Express Employment Professionals.
Participating job seekers understand the interview process isn’t “one and done,” as 83% believe they should participate in more than one interview before receiving a job offer with two in five (41%) ideally participating in two interviews. Very few expect more than five interviews. Conversely, 4 in 10 hiring managers (40%) say candidates can expect to go through two interviews before receiving an offer while 15% say job seekers can expect to go through five or more interviews at their company. Read more at ExpressPros.com.
