Increasing Optimism Is Drawing More Americans Into The Labor Market

May 10, 2018
Increasing Optimism Is Drawing More Americans Into The Labor Market

We recently discussed a number of reports that show a strengthening U.S. economy. Both the ADP National Employment Report and the Employment Situation Summary put out by the Bureau of Labor Statistics (BLS) reported that there was a net increase in jobs last month.

In addition, the job creation figures for the previous two months were revised upwards to reflect uncounted employment. Despite these gains, some observers may have been put off by the fact that the national unemployment rate increased slightly in October.

However, there is evidence that the main reason for this shift is that more Americans are looking for jobs. The Boston Globe reports that nearly 1 million workers have reentered the labor market since September.

This is a positive sign. The Globe spoke to Kenneth Rogoff – an economics professor at Harvard University – for further analysis. He explained that these developments fit into the pattern of a “normal recovery.”

“That’s part of the process,” said Rogoff. “People start to smell jobs and come into the workforce.”

Recruitment firms help companies identify and evaluate leading candidates

Business leaders’ spirits may be buoyed by the range of signs that are pointing to a strengthening economic recovery. However, high-caliber talent continues to be hard to come by. There will always be a need for companies to put an emphasis on quality when conducting an executive or financial professional search.

Leaving CFO jobs or other important positions vacant for long periods during a protracted search can prove disruptive for a company. Working with professional recruiters can help businesses quickly connect with leading talent, evaluate individual candidates and recruit the right professionals for their open positions.

Additional Articles

Browse More