The latest job market news and trends – all in one place. Highlights from the Q3 2022 Quarterly Market Report include:
- The Employment Situation:
The national unemployment rate was at 3.6 percent, for the third month in a row. Overall, this jobs report was a positive signal of continuing expansion in the economy.
- Temp Hours Worked:
Temporary staffing hours worked in professional occupations, including IT, healthcare, finance and engineering, were up 12% year-over-year.
- Rising Interest Rates Impact on the Talent Market:
Given the backlogged demand, job losses would have to mount considerably before workers would have a hard time finding new positions. Overall, higher interest rates are not expected to have much of a short-term effect on hiring.
- Data Privacy: “If I'm a company today, I'm thinking about how data is collected, stored and applied in the organization, and how [new] regulations might impact that.”