Labor and Industry Trends
Cross currents
Friday's numbers from the Bureau of Labor Statistics Employment Situation report point to a still-strong labor market, with better than expected job growth. Nonfarm payrolls increased by 228,000, higher than the average monthly gain of 158,000 over the prior 12 months and well above estimates of 130,000. The unemployment rate has remained in a narrow range of 4.0% to 4.2% since May 2024. The slight uptick in March was mostly driven by more people being in the labor force.
Beyond the numbers
There are many cross currents influencing the current economic and labor landscape. The April 2nd tariff announcements and subsequent 90 day pause announced on April 9th, regardless of one's view, have introduced an extraordinary degree of uncertainty regarding their final state, timing and possible retaliatory measures by our trading partners. Companies have historically navigated challenging macro-environments when they were known. However, the current unknowns present unique difficulties. Despite this macroeconomic noise, our clients must continue to run their business, maintain competitive customer interfaces and drive internal efficiencies. Many of these projects are multi-year initiatives that must proceed regardless of headline noise.
We encourage clients to engage with Kforce professionals to help you navigate these turbulent times and plan for your next phase of growth. With our 60 years of experience, Kforce has successfully guided clients through many challenging operating environments.
by Michael Blackman
CURRENT LABOR INDICATORS
4.2
Total Unemployment
%
228,000
Total Job Gains Vs 130,000 Expected
Published APRIL 10, 2025
Source: U.S. Bureau of Labor Statistics
APRIL 2025
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by Michael Blackman
Labor and Industry Trends
May 2023
Beyond the Headlines
Business and professional services led the unexpectedly strong job gains in May. This is yet another indication that the market for highly skilled talent remains intact, despite all the headline layoff news.
Total nonfarm payroll employment increased by 339,000 in May—almost double the Wall Street consensus of +195k. Meanwhile, the unemployment rate remains low at 3.7%. In times of economic uncertainty, many companies have turned to flexible resources to minimize economic risk.
Source: U.S. Bureau of Labor Statistics
Total Job Gains
339,000
%
3.7
Total Unemployment
CURRENT LABOR INDICATORS
What Does this Mean for Clients?
Beyond the oft confusing headlines, tech job openings across industries remain solid at 234,000+, according to market research from CompTIA. Top skills are still very much in demand, including software developers and engineers, IT project managers, data analysts and IT support specialists. Interestingly, about one in five tech job openings are in emerging areas like AI. Historically, large-scale innovation increases the demand for technologists, who are often the drivers and architects behind transformative projects.
Clients, your Kforce partner is well equipped to help you structure the best solution for your organization. Particularly in technology, which tends to be project driven, a time and materials solution can be very appealing. If you are a highly skilled technologist, Kforce works with a significant majority of Fortune 100 companies and can put you in exciting career-building opportunities.
Published June 8, 2023
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Learn More About Kforce
Learn More About Kforce
As Chief Corporate Development Officer at Kforce, Michael Blackman, a 33-year Kforce veteran, is the primary focal point for the firm with the Wall Street and financial communities. He is regularly sought out by leading economists for his perspectives on the economy and labor markets, and he contributes to a number of key proprietary economic publications.
CHIEF CORPORATE DEVELOPMENT OFFICER
Connect with me
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Meet the Author
Learn More About Kforce
As Chief Corporate Development Officer at Kforce, Michael Blackman, a 30-year Kforce veteran, is the primary focal point for the firm with the Wall Street and financial communities. He is regularly sought out by leading economists for his perspectives on the economy and labor markets, and he contributes to a number of key proprietary economic publications.
Michael Blackman
CHIEF CORPORATE DEVELOPMENT OFFICER
Meet the Author
Michael Blackman
Michael Blackman
AI adaptation
cloud
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Source: U.S. Bureau of Labor Statistics
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Source: U.S. Bureau of Labor Statistics
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