Employment Update

August 2023

The American employment landscape is constantly changing. Keep up-to-date with the most recent trends with our monthly Employment Update. All figures are provided by the Bureau of Labor Statistics and the America Staffing Association.

  • Unemployment rate increased - 3.8%

    The unemployment rate rose by 0.3 percentage points to 3.8 percent in August, and the number of unemployed persons increased by 514,000 to 6.4 million. Both measures are little different from a year earlier when the unemployment rate was 3.7 percent, and the number of unemployed persons was 6.0 million.

  • Long term unemployed edged up - 1.3M

    The number of long term unemployed (those jobless for 27 weeks or more) increased in August to 1.3 million and accounted for 20.3 percent of all unemployed persons.

  • Labor force participation— increased - 62.8%

    In August, the labor force participation rate rose by 0.2 percentage points to 62.8 percent after being flat since March. The employment-population ratio was unchanged over the month at 60.4 percent.

  • Average hourly earnings rose $0.08 to $33.82

    In August, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents, or 0.2 percent, to $33.82. Over the past 12 months, average hourly earnings have increased by 4.3 percent.

    Average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents, or 0.2 percent, to $29.00.

  • Number of permanent job losers increased - 1.5M

    Among the unemployed, the number of permanent job losers increased by 166,000 in August. The number of persons on temporary layoff increased by 122,000 to 789,000 in August.

  • GDP projected to increase - 0.6%

    Economists surveyed in September projected GDP in 3Q 2023 will increase 0.6 percent.

    The Wall Street Journal conducts an Economic Forecasting Survey among a group of nearly 80 economists on more than 10 major economic indicators on a quarterly basis, including GDP.

  • Temp penetration rate at 1.89%

    Temporary help employment was 1.89 percent of total nonfarm employment in August.

  • Temp help jobs decreased - 5.9%

    Temporary help jobs in August decreased 5.9 percent, seasonally adjusted, from the same month last year.

  • Nonfarm payroll employment up by 187,000

    Total nonfarm payroll employment rose by 187,000 in August, less than the average monthly gain of 271,000 over the prior 12 months

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Industry Trends

Acara summarizes the latest industry trends each month to keep you informed as you make decisions about the future of your business.

  • 65% of workers are worried about stigma and discrimination from management if they disclose their neurodivergence or request support.

    Teams with neurodivergent workers can be 30% more productive than those without them.
    22% of organizations’ DEI&B policies include a focus on neurodivergence.

    “Organizations that make an extra effort to recruit, retain, and nurture neurodivergent workers can gain a competitive edge from increased diversity in skills, ways of thinking, and approaches to problem-solving."

  • Strengths of neurodivergent workers:

    • Hyperfocus: 80%
    • Creativity: 78%
    • Innovative thinking: 75%
    • Detail processing: 71%

  • 67% of American employees have worked while on vacation.

    27% of employees enjoy their job and don’t mind working on vacation.
    37% have worked on vacation because they have no one to delegate tasks to.
    10% of employees worked on vacation because their boss expects it.

  • 57% of employees feel anxious if they don’t check their emails during their time off work.

    Employees working on vacation can lead to poor work-life-balance resulting in:

    • Lower productivity
    • Absenteeism due to burnout
    • Higher turnover

  • 54% of companies are mandating or strongly encouraging their employees to come to the office.

    78% of employees are working a fully remote or hybrid (partially remote) schedule.
    15% of workers are onsite five days per week.

  • 28% of employees whose employer mandated onsite work say that their intent to remain with their company decreased in the past six months.

    35% of fully remote workers feel their productivity is higher than six months ago.

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