Key Takeaways:
- Job listings may take a dip from May to June according to our data.
- Payroll data predicted by UKG suggests there may be an increase in workforce activity.
- The overall number of job listings is predicted to continue to slowly decline.
The labor market is projected to continue to get back to pre-pandemic status as the number of job listings is projected to be still on a slight decline. But, we are still prediciting an uptick in the number of remote listings.
According to the U.S. Labor Department’s job report for May 2022, employers added 328,000 jobs and the unemployment rate went down to 3.5%. The market is now continuing to fall slowly as predicted by economists and our data alike.
According to our projected data it is likely that the number of job listings will see a decrease for the month of June with a 21% decline in open positions. But, a popular payroll provider, UKG suggests that there may be an increase in the number of jobs due to workforce activity increases in the first two months of June.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the June post-job report.
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