Summary: Today’s labor market briefing hosted by UKG at 10:00 a.m. ET will explore important and emerging trends affecting workplaces nationally, including:
- How January workforce activity levels1 at U.S. businesses remain unchanged (0.0%) from December to January and why this is significant;
- Business sectors showing strength and weakness by industry, such as healthcare (-0.4%); manufacturing (0.6%); retail, foodservice, and hospitality (-2.9%); and services and distribution (0.4%); and by size segment, including large and small businesses;
- An outlook on layoffs and why workforce reductions concentrated in some white-collar sectors may ultimately help ease the labor shortage.
Register to attend the UKG labor market briefing.
Commentary: Dave Gilbertson, vice president, UKG
“January delivered calm to the labor market after a December dip in workforce activity. Layoffs aren’t widespread and continue to be concentrated in predominantly white-collar sectors. Overall, demand for employees, especially for frontline and hourly roles, remains strong. We expect to see a ‘Blue-Collar Boomerang,’ as recently laid off white-collar and salary workers take up well-paying, highly skilled frontline jobs in the year to come, further easing the labor shortage.”
Importance: The UKG Workforce Activity Report is a high-frequency index analyzing shift work trends across 4.2 million people at 35,000 U.S. businesses to understand the economy. Reports are published and briefings are held each Tuesday prior to the publication of the U.S. Bureau of Labor Statistics (BLS) Employment Situation (monthly jobs) report. Upcoming schedule:
- February Workforce Activity Report: March 7, 2023
- March Workforce Activity Report: April 4, 2023
- April Workforce Activity Report: May 2, 2023
At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion great workplaces and build lifelong partnerships with our customers to show what’s possible when businesses invest in their people. Born from a historic merger that created one of the world’s leading HCM cloud companies, our unique Life-work Technology approach to HR, payroll, and workforce management solutions for all people helps more than 70,000 organizations around the globe across every industry anticipate and adapt to their employees’ needs beyond just work. To learn more, visit ukg.com.
Footnote 1: “Shifts worked” is a total derived from aggregated employee time and attendance data and reflects the number of times that employees, especially those who are paid hourly or must be physically present at a workplace to perform their jobs, “clock in” and “clock out” via a timeclock, mobile app, computer, or other device at the beginning and end of each shift.
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