In the July Employment Report, Bruce Steinberg looks at the national unemployment rate as compares to the labor force participation rate:
“These two factors are in a similar relationship now. The labor force participation rate is basically steady and the unemployment rate is declining. If the economy continues to hum along and not weaken into recession, the unemployment rate may: 1) continue to decline and / or 2) inflation, especially wage inflation, will pick up. Perhaps this is the thinking behind many anticipating the Fed lowering interest rates to stave off anticipated higher inflation than its mandate.”
The July employment report has detailed updates on job trends in all sectors. Send it to your staffing colleagues to keep your team up to date.
You can also enjoy this 2 minute video summary of the report.