The BLS labor stats came out recently, and it’s a bit perplexing for even us industry folks of what is happening to workers. The labor participation rate prior to the pandemic was around 63.3% and in the most recent month, it fell another .1% to 61.6%. Also, most experts predicted that job growth would be robust around 500K additional jobs, but in fact, we only got an additional 190K.
The current unemployment rate has dropped to 4.8% from over 5%. Most pundits would call us fully employed around 4%, and most folks hiring know it’s super hard to