Job Growth for October, LOWEST Since December 2020.
Last Friday’s BLS report saw a significant drop in job creation across the U.S., with 12,000 jobs being added, the lowest since December 2020! While the unemployment rate held steady at 4.1%, this stability misrepresented underlying shifts in the labor force and time will tell if this is a true stabilization.
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Recognition programs are significant, visible investments for any organization. It is critical that these programs launch successfully and achieve a prominent level of utilization quickly. Our work with many clients over many years offers valuable lessons about what can be done before and after a program launch to maximize its success.
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Job Growth Surges in September, Signaling Economic Resilience.
The September jobs report paints a picture of a labor market that is not only resilient but also surprisingly strong. This positive news, coupled with upward revisions for previous months and a continued upward trend in average hourly earnings, offers a reassuring signal about the underlying strength of the U.S. economy. However, the slight decrease in the average workweek serves as a reminder that some uncertainty persists, and the Federal Reserve will need to carefully weigh all available indicators when making decisions about future monetary policy actions.
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Why employee recognition matters and how to effectively deliver it.
In my two previous columns (Creating a Great Employee Experience and Why RESPECT Matters), I introduced the RESPECT taxonomy of what employees most want from their employer and shared research revealing the customer loyalty and financial gains to organizations for delivering RESPECT (Recognition, Exciting Work, Security, Pay, Education and Career Growth, Conditions, and Truth).
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