Labor and Industry Trends

Threading the needle

What does this mean for clients?

In our ongoing discussions with clients, critical technology initiatives remain a top priority, particularly in the areas of digital, data governance, AI and ML, UI/UX, cloud, data analytics, business intelligence, project and program management, and modernization efforts. It is clear that the broad and strategic uses of technology will continue to evolve and play an increasingly instrumental role in powering businesses. Clients can partner with Kforce for strategic guidance and tailored solutions to attain their business goals.

by Michael Blackman

CURRENT LABOR INDICATORS

Learn More About Kforce

As Chief Corporate Development Officer at Kforce, Michael Blackman, a 32 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.

4.1

Total Unemployment

206,000

Total Job Gains

3.9

Wage Growth (YoY)

5.1

SPACE IN BETWEEN MODULES/ Macros/ Sections

SPACE IN BETWEEN HEADER AND SUBHEAD + Subhead & Body

Published JULY 10, 2024

Source: U.S. Bureau of Labor Statistics

SPACE IN BETWEEN BUTTONS

JUNE 2024

This Ruler is for the Space Above and Below the Header Text Area. It Should Reach from the Bottom of the the Nav Bar to the Top of the Header Text. And From the Bottom of the Header Text to the Bottom of the Header Photo.

This Ruler is for the Space Between the Bottom of the Hero/Header Text and the Subheader Copy. Check Your Spacing for Consistency.

This Ruler is for the Space Between Modules/Macros/Sections. It Should Reach from the Bottom of the Previous Module/Macro to the Top of the Next Section.

This Ruler is for the Space Between Text/Buttons/Callouts. Check Your Spacing for Consistency.

Michael Blackman

CHIEF CORPORATE DEVELOPMENT OFFICER

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Meet the Author

Learn More About Kforce

Labor and Industry Trends for May 2023

Brad Boyd

PRACTICE LEADER

Meet the Authors

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

The economy and labor markets continue to show extraordinary resiliency despite elevated interest rates as the Federal Reserve is committed to further lowering inflation. So far, they have made significant progress bringing inflation down without tipping the economy into a recession. While the overall unemployment rate has increased slightly, it remains very near historical lows and demand for highly skilled technologists persists. In fact, "information" added net workers in the June BLS data.

U.S. Unemployment Rate

JUNE 2022 THROUGH JUNE 2024

4.2%

4.0%

3.8%

3.6%

3.4%

3.2%

3.0%

Jun '22

Source: U.S. Bureau of Labor Statistics

Jul '22

Aug '22

Sep '22

Oct '22

Nov '22

Dec '22

Jan '23

Feb '23

Mar '23

Apr '23

May '23

Jun '23

Jul '23

Aug '23

Sep '23

Oct '23

Nov '23

Dec '23

Jan '24

Feb '24

Mar '24

Apr '24

May '24

Jun '24

5.5%

4.5%

3.5%

2023

2022

Source: U.S. Bureau of Labor Statistics

U.S. Unemployment Rate

Jan 2021 Through DEC 2023

2023