Littler Releases Report on the American Workforce - Industry Today - Leader in Manufacturing & Industry News
 

August 7, 2023 Littler Releases Report on the American Workforce

Littler’s Workplace Policy Institute released a new report analyzing the key factors contributing to ongoing labor shortages.

By Michael Lotito, Shannon Meade, Michael Chichester, Jake Baker, and Carole Wilder

As headlines in The New York Times and other major news media tout increases in the number of employed non-farm workers, a deeper dive reflects that the labor force participation rate in June was 62.6% for the fourth consecutive month, and the employment-population ratio was 60.3%, unchanged from May. These measures remain below their pre-pandemic February 2020 levels based on data from the U.S. Department of Labor Bureau of Labor Statistics.

As the U.S. Chamber of Commerce reports, U.S. businesses are “facing unprecedented challenges trying to find enough workers to fill open jobs.” As of the end of May 2023, there were 9.8 million job openings in the United States, with .6 unemployed individuals per job opening, according to the U.S. Department of Labor’s Job Openings and Labor Turnover Survey.

What is contributing to this shortage, which areas are most impacted, and what does this bode for the future of work?

Click here to read the full WPI Report.

Information contained in this publication is intended for informational purposes only and does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of an attorney.

 

Subscribe to Industry Today

Read Our Current Issue

Women Powering Manufacturing: Breaking Barriers

Most Recent EpisodeFrom Equations to Executive: Magen Buterbaugh’s Journey

Listen Now

Magen Buterbaugh is the President & CEO at Greene Tweed. Listen to her insights on her ambition to be a lawyer and how her math teacher suggested she consider chemical engineering. Now with several accolades to her name including being honored as one of the 2020 Most Outstanding Engineering Alumnus of Penn State and a Board Member of National Association of Manufacturers (NAM) she has never looked back.