- Job listings skyrocketed, drastically.
- Lowest jobless level the labor market has seen since May 1969.
- The leisure and hospitality market continues to boom.
The labor market is coming in hot this new year, taking experts by surprise with nearly 300,000 more jobs added than originally projected by economists. The leisure and hospitality market continues to soar, making it likely that Americans are planning to travel more this year than ever.
According to the U.S. Labor Department’s job report for January 2023, employers added 517,000 jobs and the unemployment rate fell to 3.4%. This is the lowest jobless level the labor market has seen since May 1969.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the February pre-job report.