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The American employment landscape is constantly changing. Keep up-to-date with the most recent trends with our monthly Employment Landscape Overview. Figures and statistics sourced from the Bureau of Labor Statistics and the American Staffing Association
Both the unemployment rate, at 3.9 percent, and the number of unemployed persons, at 6.5 million, changed little in October. However, since their recent lows in April, these measures are up by 0.5 percentage point and 849,000, respectively.
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.3 million. The long-term unemployed accounted for 19.8 percent of all unemployed persons.
Both the labor force participation rate, at 62.7 percent, and the employment-population ratio, at 60.2 percent, changed little in October.
In October, average hourly earnings for all employees on private nonfarm payrolls rose by 7 cents, or 0.2 percent, to $34.00. Over the past 12 months, average hourly earnings have increased by 4.1 percent. In October, average hourly earnings of private-sector production and nonsupervisory employees rose by 10 cents, or 0.3 percent, to $29.19.
Among the unemployed, the number of permanent job losers increased by 164,000 over the month to 1.6 million. The number of persons on temporary layoff changed little at 873,000.
Economists surveyed in November projected GDP in 4Q 2023 will increase 0.9 percent.
The Wall Street Journal conducts an Economic Forecasting Survey among a group of nearly 80 economists on more than 10 major economic indicators on a quarterly basis, including GDP.
Temporary help employment was 1.88 percent of total nonfarm employment in October.
Temporary help jobs in October decreased 5.01 percent, seasonally adjusted, from the same month last year
Total nonfarm payroll employment increased by 150,000 in October, below the average monthly gain of 258,000 over the prior 12 months.
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Broadleaf summarizes the latest industry trends each month to keep you informed as you make decisions about the future of your business.
56%of job candidates rank phone calls as their least preferred form of communication.
40% of job seekers described their last job search as frustrating and long.
72% of job seekers expect the hiring process—from submitting the application to receiving an offer—to take three weeks or less.
This compares to 43 percent of Millennials and 31 percent of Gen X.
This compares to 34 percent of Millennials and 28 percent of Gen X.
85% of Gen Z are less likely to apply for a position if the salary range is not disclosed in the job posting.
42% of Gen Z would not accept a job offer if it did not align with their personal values.
38% of CEOs expect to expand their workforce in the next 12 months.
13% of CEOs expect to cut workers over the next 12 months.
47% of CEOs find it challenging to attract qualified workers.