Payrolls bump up in October: ADP

Another strong jobs report. There’s a lot of doom and gloom talk about the economy which is understandable. But folks, let’s enjoy what’s good while it’s good. The unemployment rate has never been this low for this long in American history and our economy continues to add jobs and wages continue to rise. Inflation is terrible and definitely cuts into the gains (however wage growth in some industries such as hospitality actually outpaced inflation by growing over 11%) but do you know when inflation hurts even more? When there are no jobs! Let’s keep this jobs train ?? moving!

Another strong jobs report. There’s a lot of doom and gloom talk about the economy which is understandable. But folks, let’s enjoy what’s good while it’s good. The unemployment rate has never been this low for this long in American history and our economy continues to add jobs and wages continue to rise. Inflation is terrible and definitely cuts into the gains (however wage growth in some industries such as hospitality actually outpaced inflation by growing over 11%) but do you know when inflation hurts even more? When there are no jobs! Let’s keep this jobs train ?? moving!

Hiring at US companies rose in October by more than forecast, mainly reflecting a surge in leisure and hospitality and underscoring resilient labor demand despite the Federal Reserve’s efforts to cool the economy. Private payrolls rose 239,000 last month after a revised 192,000 gain in September, according to data from ADP Research Institute in collaboration with Stanford Digital Economy Lab. The median forecast in a Bloomberg survey of economists called for a 185,000 advance. In addition to the 210,000 increase at leisure and hospitality companies, payrolls rose in trade, transportation and utilities. #economy

Today’s JOLTs report showed job openings unexpectedly bounced higher in September, indicating that the U.S. labor market remains very tight.?Data is suggesting that hiring managers plan to retain more employees than they normally would be due to difficulties finding and retaining workers… potentially a reaction to what we just went through with C19? Additionally, among those with hiring responsibility, recession concerns are widespread, yet they still plan to hire and retain workers over the next six months. Regardless of the economic climate, great talent is difficult to acquire. #jobs #jobsreport #tuesday #motivation #economy #recession #moneyball365

If you are loving the work-from-home (WFH) experience and fear the party might soon be over, a recent survey should bring you some hope.? ? The Conference Board,?a nonprofit business research group, found only 4% of HR leaders surveyed are requiring all employees to return to the office full-time. ? While it is possible the "all employees" wording in the survey made the percentage artificially low, this is good news for fans of WFH – for now.? ? The Conference Board's VP of Human Capital Robin Erickson believes more employers will eventually require onsite work “if the labor market cools." ? “Hybrid work is going to be the most lasting organizational legacy of Covid-19 but I think the pendulum will swing back,” Erickson clarifies. “Employers are going to decide that they lost too much in terms of collaboration and culture.” ????????????????????????????????????? However, a Stanford University professor shares his own thoughts on forcing people to come back to the office full-time: “It makes no sense – employees are happier and more productive when they work from home two or three days a week, so very few employers are forcing them back to the office full time.” ? What do you think? Are hybrid opportunities here to stay, or will we find ourselves back in the office for good? ? Read more about the survey at?Forbes: https://lnkd.in/g2Zi2CwA ? Contact us at CareerToolboxUSA if you're looking for a hybrid position. We'll help you through the whole process: https://lnkd.in/gQ9dt_QY ? #careers #jobs #remotework

Todays JOLTs report showed job openings unexpectedly bounced higher in September, indicating that the U.S. labor market remains very tight.? Policymakers at the Fed hoping for more signs of loosening in the historically tight labor market would have been disappointed, and Morning Consult data suggests that labor hoarding may be playing a role: Morning Consult data shows that a majority of U.S. adults who have some hiring responsibility and plans to either hire or retain employees in the next six months say they plan to retain more employees than they normally would due to difficulties finding and retaining workers.? Among those with hiring responsibility, recession concerns are widespread, yet they still plan to hire and retain workers over the next six months. When conditioning the labor hoarding question on recession concerns, our data shows that employers who are worried about a looming recession are more likely to say they are hoarding workers, supporting the notion that this is indeed labor hoarding. On the other hand, employers who say they are retaining more workers than usual also tend to be more optimistic about the outlook for their own businesses. This would partially refute the idea that this is actually hoarding, as a brighter business outlook would rightly lead employers to retain workers. However, even 52.6% of respondents with a less rosy outlook for their own firm say they are retaining more employees than they normally would. See more in our monthly U.S. Jobs and Labor Report here: https://lnkd.in/eXF_FAX6 #jolts #labormarket #laborhoarding #laborforce #employment #staffing #hiring #jobopenings #federalreserve