Summary: According to the UKG November Workforce Activity Report, workforce activity at U.S. businesses increased 1.8% for the month. The increase is driven by multiple factors, including the resolution of workforce interruptions created by October’s severe weather, and the earlier-than-usual arrival of higher levels of workforce activity in key sectors associated with holiday shopping.
Commentary: Edward Hearn, Ph.D., Lead Labor Economist, UKG
“If all the advertising makes it feel like the holiday shopping season started a bit earlier this year, UKG workforce activity confirms that it actually did. With Thanksgiving late on the calendar, and retailers expecting mixed results, we saw a more measurable increase in November this year compared to prior years, especially in sectors associated with physical and digital holiday shopping, including retail, warehousing, and distribution, helping to drive this month’s growth.”
Industry Spotlight: Following October’s workforce disruptions created by severe weather, and coupled with an early start to holiday shopping, nearly all industries experienced growth:
- Healthcare: 1.9%
- Retail, food service, and hospitality: 2.4%
- Services and Distribution: 3.3%
- Public Sector: 4.2%
- Manufacturing: -0.6%
Learn More: Register to attend the UKG Labor Market Briefing series. The next briefing is today, December 3, 10:00 a.m. ET, which will further explore:
- An update on expectations for the holiday shopping season;
- Key trends across sectors and business size segments during November; and
- The potential impact of uncertainty around future adjustments to interest rates heading into 2025.
Significance: The UKG Workforce Activity Report uses dynamic, high-frequency data from a panel of 6.2 million active U.S. employees to understand workplace trends week-by-week. Reports are published and briefings are held each Tuesday prior to the publication of the BLS Employment Situation Report. Upcoming publication schedule:
- December 2024 Workforce Activity Report: January 7, 2024
- January 2025 Workforce Activity Report: February 4, 2025
- February 2025 Workforce Activity Report: March 4, 2025
About UKG
At UKG, our purpose is people. We are on a mission to inspire every organization to become a great place to work through HCM technology built for all. More than 80,000 organizations across all sizes, industries, and geographies trust UKG HR, payroll, workforce management, and culture cloud solutions to drive great workplace experiences and make better, more confident people and business decisions. With the world’s largest collection of people data, work data, and culture data combined with rich experience using artificial intelligence in the service of people, we connect culture insights with business outcomes to show what’s possible when organizations invest in their people. To learn more, visit ukg.com.