Market Insights From Q2

Are You Investing in Your Biggest Asset?

Amidst a talent shortage, some employers are investing in development and upskilling.

A recent study shows 86% of workers actively seek upskilling opportunities (Workhuman, 2024 ). Meanwhile, 64% of those surveyed believe their under-skilled colleagues hinder productivity.

The message is clear: employers need to both prioritize attracting new talent and simultaneously engage with and train their existing workforce through effective upskilling programs and strong managerial support.

Offering ongoing development – or in some cases, sponsoring certification courses – will open the door to a greater pool of talent, allowing you to hire someone with the right culture fit and work ethic, even if they lack a required skill or certification. By carving out long-term growth paths, you can bridge the skills divide, build more productive teams, and demonstrate long-term interest in your employees: making your organization a more attractive place to work.

How Strong is Our Labor Market?

Coming out of the pandemic, assessing the state of the labor market was not so straightforward. Now, with a more comprehensive perspective, we are able to recognize just how resilient our economy is.

A recent study by The New York Times examining the relationship between job openings and the unemployment rate showed that although our job market has seen some turbulence over the last 4 years, we have returned to where we were in 2019 with even more vigor than before the pandemic.

In comparison to this historically strong labor market pre-pandemic, job openings are slightly higher, turnover is slightly lower, and the unemployment rate has returned to where it sat in 2019. On top of that, wages are beginning to outpace price increases, allowing for more spending power across income groups and stabilizing the overall economy.

Exceeding expectations

Our job market continues to surprise us with its strength. In 2015, the Congressional Budget Office forecasted job growth to slow over the coming decade, mirroring a flattening population growth. These expectations proved to lack confidence in the resilience of our market as job growth has dramatically surpassed expectations and continues to do so.

At Career Group Companies, we continue to place talent with top companies as we maintain pace with an optimistic market.

Top Fundraising Team in Los Angeles

Best Buddies x CGC

In the U.S., 85% of adults with Intellectual and Developmental Disabilities (IDD) do not have a paid job in the community, but Best Buddies is working to change this. Although shown to have lower rates of absenteeism and sick leave than other employees, the IDD community still struggles with a stigma that prevents them from securing meaningful employment.

This year, we were the top fundraising team in Los Angeles for their annual Friendship Walk, and we are proud to support this amazing organization. Our ongoing partnership with Best Buddies began thanks to our Executive Vice President, Emily Levine . We sat down with her to discuss how this relationship was born and the importance of programs like Best Buddies.

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