Workplace Insights: What's Hot, What's Not Ed. 25

Your latest INSIGHTS & TRENDS for the Week of January 8, 2024.

There are so many current headlines surrounding the workplace, it's hard to keep up. To make this as easy as possible for you, Workplace Insights: What's Hot, What's Not, will provide you with the latest updates that may impact your organization as it relates to market trends and current industry insights.

1. U.S. employers added 216K jobs in December, an increase over November’s 173K job growth and better than industry experts were expecting. Overall, 2023 saw 2.7M new jobs added, down drastically from 4.8M in 2022 but still surpassing the years leading up to the pandemic.
   
   

2. The average hourly worker saw their earnings rise by an annual rate of 4.1% in December, exceeding November’s 4% figure and a full point above November’s 3.1% inflation figure. As a result, “real” wages – or earnings taking inflation into account – are finally on the rise. This comes at a great time as the average trip to the grocery store costs on average 20% more than it did just prior to the pandemic.
   
   

3. Are you experiencing the impact of AI on your job? According to a top talent CEO, not only might your salary rise, but there are also other benefits to look forward to.

4. According to the U.S. Bureau of Labor Statistics (BLS), there was a remarkable growth in non-farm payrolls, averaging around 225,000 per month in 2022. This continues a downward trajectory from the exceptional job growth of 605,000 per month in 2021, when the U.S. economy rebounded from the pandemic-induced shutdowns in 2020.

We hope you are benefiting from this resource. If you have anything you would like to add or specific questions, please drop us a line.