Key Takeaways:

  • Job listings are likely to take a dip in August.
  • This is predicted to be the largest slow-down in the labor market in 2 years.
  • Greenwich HR is predicting a nearly 18% decrease in available jobs.

The labor market is expected to slow drastically as economists predict a major drop in job openings and resignations. Unemployment is also expected to fall.

According to the U.S. Labor Department’s job report for July 2023, employers added 187,000 new jobs and the unemployment rate was 3.5%.

Greenwich HR data is predicting a 18% decrease in the number of available jobs compared to July. 

Will the labor market finally take the big hit experts are predicting? Or will it continue to take everyone by surprise as it has since 2021? 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 August post-job report.