Into: It’s the start of a new month and it’s Monday morning, that means it’s time for Monthly Coffee Blogs! Welcome back to all things coffee and labor stats you’ve come to know and love from our coffee blogs all in one spot. So before you start crushing it this week, take a few moments to enjoy that fresh cup of coffee and dive into the latest job numbers.
Coffee Shop: Outside Coffee Co.
Drink: Chai Latte
Our Review: If you need an escape Outside Coffee Co. is your sanctuary. This quiet little coffee shop is unlike any other. You order your coffee from a vintage camper parked in a side garden with plenty of seating and hammocks. You’re literally not going to want to leave once you get to Outside Coffee Co. When you’re ready to show this week who’s boss, this chai latte makes a great support system. When sipping a chai latte, opening your inbox for the first time this week becomes much less intimidating. Keep kickin’ butt this week friends!
Job Numbers: Buckle up: we’re about to hit you with some quick fire numbers on the unemployment rate, job creation, wages, and retention stats. Seems like a lot, luckily, we put everything in handy-dandy graphs!
Looking at this numbers we get a mixed bag of rates increasing and decreasing. What does it all mean? If unemployment increased in my area should I be panicking? Nope! As we continue to see our economy strengthening, we’re going to expect to see more changes to the unemployment rate. This month, we saw a mix of people entering the job market in some areas and a decrease in others. This is all normal as the economy continues to strengthen and weather the current trade war with China. Ready for a deeper dive? Let’s take a look at job creation rates in the markets we serve.
Whoohoo for continued job growth in all the markets we serve! We expected to see increases in job creation because the economy continues to strengthen and people are entering or re-entering the job market. Alright, the labor stats train is about the leave the job creation station to look at the Rate of Separations. All aboard!
Unfortunately, the latest numbers for the Rate of Separations isn’t out quite yet, government work am I right? Oh well, if you read last month’s blog this will be a refresher and if you haven’t (you can now!) this will be new! We already know its a job seeker’s market, meaning people on the job hunt have the advantage of picking and choosing between multiple offers. This is causing companies everywhere to feel the labor pool tighten. We took a look at the Rate of Separation to give us some insight into employee retention. As you can see, the rate remained the same from May to June. While these numbers do include all manner of separations (i.e., terminations, layoffs, resignations), we can see that the levels have remained consistent. As always, we know these numbers matter for retention so let’s take a look at some retention stats.
Phew, you made it! Let’s recap all those numbers so you’re head isn’t spinning anymore.
- We have a mixed bag when it comes to unemployment but that is expected as the economy continues to strengthen. More people are entering or re-entering the job market either after unemployment or to change positions from their current job.
- We saw job creation increases in each of the markets we serve! Again, this can be contributed to continued economic growth, and you know, us being great at what we do!
- Employers should continue to be aware that we are in a job seeker’s market and the workforce is tightening. If employers want to retain their top talent, they should be aware of some of the stats and find ways to show their employees they’re valued.
If your head is done spinning, we hope you were able to gain a little more insight into the labor stats in the markets we serve here at Workbox. If you’re an employer facing hiring challenges, give us a call, we’d be happy to recruit the top talent you’re looking for. If you’re a job seeker ready for your next opportunity our recruiters are ready and waiting to get you hired. We’re passionate about putting the right people in the right position, it’s what we do.