U.S. | Q3 2023
Quarterly Market Report

The latest job market news and trends – all in one place. Highlights from the Q3 2023 Quarterly Market Report include:

Market Overview

  • The Employment Situation – A cooling hiring market continues, but wage gains and low unemployment signal Fed hikes are likely
  • Staffing Industry Indicator – As of July, temporary staffing was down 3.1% from its average level in the first six months of 2023
  • Recession Watch 2023: Q3 Update – The case for a 2023 U.S. recession is crumbling

Hiring News & Trends

  • America’s Aging Workforce – The labor force growth rates of those 55 and older are projected to outpace all other age groups over the 2020-2030 decade
    • Offering alternative benefits like ‘grandparents leave’ will be important to attract and retain this important population of the workforce
  • Gen Z Preferences, Capabilities and Challenges
  • 2023 Top 10 Workplace Trends
  • Wages and Inflation – Wage growth recently outpaced inflation for the first time in 2 years

These headlines and more — coupled with commentary and key insights from Vaco leadership.

Download your copy of the U.S. Quarterly Market Report

View Q3 2023 Report

“Organizations went from a blank check mentality to a big question mark, so the whiplash of that has been a bit jarring. And while I do anticipate the general uncertainty and the impact that has on corporate and consumer confidence to continue for the next several months if not the rest of the year, business is still good. It’s just not 2022 good.”

Justin Farmer
Managing Partner – Vaco, Memphis

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