In this month’s edition of the US Employment Situation, economist Bruce Steinberg revisits the Beveridge Curve as an indicator of potential oncoming recession. Unemployment is hovering at a low rate, less than 5%, and wages are rising in many sectors, inflation nonwithstanding. The relationships between unemployment, job vacancy, and changes in private-sector jobs are worth watching. The current expansion cycle that has been buffering the staffing industry is now in its 102nd month, causing many to fear that it has run its course. But with trends like automation transforming the job landscape, and “wild card” changes in economic policy and regulation, it’s hard to say whether the economy will behave as it is known to over the past century.
We recommend that all staffing firms read this monthly employment report, so your recruiters can keep a finger on the pulse of the national employment landscape and trends across all sectors.
Read the full January US Employment Situation by Bruce Steinberg.