July Labor Market Shows Signs of Slowing Momentum
The July Employment Situation Report shows the labor market is feeling pressure from both long-term challenges and short-term changes. Job creation remained sluggish, with only 73,000 jobs added, significantly lower than June’s revised total and well below the 115,000 expected by economists. At the same time, the unemployment rate ticked up to 4.2%, reflecting ongoing challenges with labor force participation and persistent economic uncertainty.
Employees want fair compensation for a day’s work.
In this column, we continue our march through the seven individual attributes of the RESPECT model (Recognition, Exciting Work, Security, Pay, Education and Career Growth, Conditions, and Truth) by focusing on Pay.
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Labor Market Continues to Cool in June
June’s labor report reinforces a pattern of moderated job growth amid economic headwinds. While the pace of hiring remains positive, gains have slowed and sector imbalances persist.
The recruitment landscape is undergoing a seismic shift, and artificial intelligence is at its heart. In our recent webinar, AI in Recruitment: What’s Next, experts explored how AI is evolving from a futuristic concept into a practical, transformative force across hiring functions. The conversation brought together deep insights into the present capabilities of AI, its future trajectory and how HR professionals can prepare for the changes ahead.
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