Key Takeaways:

  • Job listings are likely to take a dip in July.
  • The unemployment rate is likely to stay the same.
  • Greenwich HR is predicting a nearly 4% decrease in available jobs.

Signs of a slowing economy are finally on the horizon for the American people. The labor market has continued to throw unexpected curve balls in 2023, proving to be stronger than economists would have liked for the sake of our inflated economy. Both economists and Greenwich.HR alike are predicting a drop in non-farm jobs and payrolls. Let’s take a look at the numbers. 

According to the U.S. Labor Department’s job report for June 2023, employers added 209,000 new jobs and the unemployment rate was 3.6%. Greenwich HR data is predicting a 4% decrease in the number of available jobs compared to June. The unemployment rate is likely not to change as economists continue to predict that employers are adding jobs at the same rate that they are losing them. 

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 July post-job report.