Measuring labor market concentration using the QCEW 10/03/2024; A new data product for occupational skills: methodology, analysis, and a guide to using the employment projections skills data 10/01/2024; Job openings and hires decline in 2023 as the labor market cools 09/30/2024; Why did labor force nonparticipation increase from 1999 to 2022 ...
By many measures, the U.S. labor market outlook for 2024 is characterized by stability and normalization following pandemic-era volatility. A dreaded recession appears less likely, inflation is ...
• The Phoenix labor market is the strongest in Arizona and one of the fastest-growing among similarly sized markets. From July 2023 to July 2024, total nonfarm employment in Phoenix increased by 2.6%, outpacing growth in the U.S. (1.6%). • Phoenix has seen significant labor force expansion since the onset of the pandemic, trailing only
The U.S. labor market presents a paradox: substantial cooling with unemployment jumping from 3.5% to 4.3% in the last year, alongside robust economic growth and rising employment. This unusual dynamic stems partly from supply-side expansions—a surge in immigration, increased labor force participatio
What Is the Labor Market Outlook for 2024 and Beyond? As of the first quarter of 2024, total hours worked were up 0.7% year over year. While employment was up 1.8% year over year, average weekly ...
Arizona’s labor market remained tight in 2024, with the preliminary unemployment rate averaging 3.6% for the year. That was an all-time low, going back to 1976. ... The Arizona outlook calls for the state economy to gradually slow in coming years, reflecting demographic pressures, slowing national growth, and substantially increased national ...
Labor Market Outlook August 2024 The U.S. labor market presents a paradox: substantial cooling with unemployment jumping from 3.5% to 4.3% in the last year, alongside robust economic growth and rising employment. This unusual dynamic stems partly from supply-side expansions—a surge in immigration, increased labor force participation, and ...
OECD Employment Outlook 2024 - Country Notes: United States. OECD Employment Outlook 2024 - Country Notes: United States ... Financing Growth in a Challenging Debt Market Environment. Data. Data Browse all data. Data ... Unemployment rates and Labour Market Situation. statistical release, 17 April 2025. News & events.
The quarterly CIPD Labour Market Outlook (LMO) provides an early indication of future changes to the labour market around recruitment, redundancy and pay ... Decreasing staff levels appears to be higher on the agenda in 2024, in response to the higher wage costs experienced over the past couple of years. This is evident in
The second chart was a bit more complicated. Inspired by the work of Jason Furman and Wilson Powell III, the graph below plots five indicators of labor market tightness – from the unemployment rate to the prime-age employment-to-population ratio.These indicators are standardized (using Z-scores) to allow for an apples-to-apples comparison.
Despite aggressive interest rate hikes by the U.S. Federal Reserve, the American economy continues to hum along. In addition to perplexingly resilient consumer spending, the U.S. labor market has remained tight. In September 2023, for example, U.S. job openings increased by 56,000 to 9.533 million open positions, while the number of layoffs decreased by 165,000.
Labor Market Outlook, April 2024. Apr 25. Written By Shrinidhi Rao. In the first quarter of 2024, inflation has accelerated sharply, further distancing from the Federal Reserve's 2% target. Despite past peaks in rent growth and inflation expectations subsiding, these factors, coupled with a persistently tight labor market, suggest a "soft ...
Surprisingly strong start to 2024. The U.S. labor market added 353,000 jobs in January 2024, nearly doubling economists’ forecasts and topping December 2023’s upwardly revised gains of 333,000. 1 The upside surprise in jobs gains at the onset of the year may be tied to adjustments made to account for seasonal factors.. Elyse Ausenbaugh, Global Investment Strategist at J.P. Morgan Wealth ...
With that said, the labor market outlook for 2024 depends not only on whether worker demand continues to fall or not but also on whether any future decline will come primarily from less hiring ...
The outlook calls for Arizona’s economic growth to slow in 2023 and 2024 but to avoid recession and outpace the nation. However, risks to the baseline forecast remain elevated. ... population growth is forecast to decelerate to 1.5% in 2023 and 1.2% in 2024. The state labor market is forecast to remain tight this year, with the unemployment ...
The Bureau of Labor Statistics (BLS) reported that the U.S. economy added 175,000 jobs in April 2024, the slowest jobs gain in six months and below market expectations. The unemployment rate ticked up from 3.8% to 3.9%.
A softer labor market. The July 2024 jobs report shows signs that the labor market is cooling down but remains stable. The U.S. labor market added 114,000 jobs in July, much lower than expected and the 179,000 rise in June. Payroll gains were revised down in June by 27,000 to 179,000 and May by 2,000 to 216,000. 1
The 2024 Labour Market Outlook is predicting stronger growth for the construction industry than was forecast in the 2023 edition. There are over 30,000 more job openings predicted in this forecast compared to last year, and employment growth has increased from 0.5% annually to 1.6%. As well, job openings have shifted from being strongly driven ...
The labor market outlook for 2024 not only hinges on whether employer demand for workers continues to fall or not but also on how employers reduce their demand. Gradually cooling hiring would mean the labor market would stay steady, while a rapid descent could cause a spike in unemployment.
