Skip to main content
Contact Sales Support Careers
United States (English)
Americas
  • United States (English)
  • Canada (English)
  • Canada (Français)
  • Mexico (Español)
Europe, Middle East & Africa
  • United Kingdom (English)
  • France (Français)
  • Deutschland (Deutsch)
  • Nederland (Nederlands)
  • Other EMEA Locations
Asia/Pacific
  • India (English)
  • Australia (English)
UKG logo UKG logo
Search
Get started Get started
    • Solutions
      Solutions by Need
      People icon
      Human Resources
      Payroll icon
      Payroll
      Talent icon
      Talent
      People connected icon
      HR Service Delivery
      Clock with Person
      Time & Attendance
      Calendar day icon
      Scheduling
      Document check shield icon
      Compliance
      Chart bar statistics icon
      Reporting and Analytics
      Product Suites
      UKG Pro

      A culture-driven HCM suite designed to support your enterprise organization's needs.

      UKG Dimensions

      Workforce Management solution helping you redefine the work experience for your people.

      UKG Ready

      HR solution to help small and mid-size organizations focus on growth and making a difference for your people, every time.

      View all products
      Find the product that best fits your needs.
      Get started Get started
      get started
    • Customer Experience
      The UKG Promise

      With over 70 years of expertise with BOTH people systems and systems of work, no one knows people and how they work better than UKG.

      Our Promise
      Customer Experience

      We think you’re pretty special when you’re a UKG Customer. That’s why we build products designed to inspire your people — and your organization — to grow and thrive.

      Partner for Life
      Implementation
      Support Experience
      UKG Community
      Working Smarter Café
      Customer Stories
      Belle Tire

      UKG Pro streamlines and automates administrative and HR tasks, so that field teams and managers can spend more time with customers, and coach, train, and listen to their people.

      Eventide Senior Living Communities

      Eventide Senior Living Communities uses UKG to drive employee engagement and streamline workforce management and HCM, including cutting PBJ reporting time by 99%.

      See all customer stories
      Collaborate, learn, and get support for your UKG solution!
      Visit UKG Community Visit UKG Community
    • Resources
      • Research & Insights
        Research & Insights
        • By Business Need
        • By Type
        See all
        Growth icon
        Human Capital Management
        People icon
        Human Resources
        People connected icon
        HR Service Delivery
        Payroll icon
        Payroll
        Talent icon
        Talent
        Chart tree people icon
        Workforce Management
        Clock with Person
        Time & Attendance
        Calendar day icon
        Scheduling
        Document check shield icon
        Compliance
        Chart bar statistics icon
        Reporting and Analytics
        Lightbulb icon
        Product Info
        Video player icon
        Product Tour
        Article featured icon
        Analyst Report
        Document icon
        White Paper
        Book icon
        eBook
        Organization icon
        Industry Brief
        Chart bar icon
        Infographic
        News people icon
        Article
        Video player icon
        Webinar Replay
        Interactive
      Research & Insights
      • By Business Need
      • By Type
      See all
      Growth icon
      Human Capital Management
      People icon
      Human Resources
      People connected icon
      HR Service Delivery
      Payroll icon
      Payroll
      Talent icon
      Talent
      Chart tree people icon
      Workforce Management
      Clock with Person
      Time & Attendance
      Calendar day icon
      Scheduling
      Document check shield icon
      Compliance
      Chart bar statistics icon
      Reporting and Analytics
      Lightbulb icon
      Product Info
      Video player icon
      Product Tour
      Article featured icon
      Analyst Report
      Document icon
      White Paper
      Book icon
      eBook
      Organization icon
      Industry Brief
      Chart bar icon
      Infographic
      News people icon
      Article
      Video player icon
      Webinar Replay
      Interactive
      Events
      Tradeshows
      Conferences
      Webinars
      See all events
      Blogs
      The People Purpose Blog

      Your source for the latest life-work trends and ideas from UKG experts and leaders. Stay informed and put people first in all you do.

      Workforce Institute

      Think tank that helps organizations drive performance by addressing HCM and workforce management issues.

      Workplace Resources
      Great Place To Work
      Pay Equity Resources
      Human Insights
      UKG Developer Hub
      UKG Pro Ranks Highest in 2022 Gartner Critical Capabilities for Cloud HCM Suites for the North American Midmarket Use Case
      Get The Report
      Get The Report
      Reference Image
      UKG Ranks Highest in 2022 Gartner Critical Capabilities for Cloud HCM Suites

      Read the Gartner® Critical Capabilities analysis for UKG Pro®.

    • About Us
      About UKG

      Learn more about UKG and how our HR solutions inspire workforces and businesses around the world to drive people-focused results.

      About Us
      Why UKG
      UKG Leadership
      Newsroom
      Awards & Recognition
      UKG Ambassadors
      Culture
      Our ESG Program
      Partners
      UKG Marketplace
      Analyst Reports
      Careers

      Look to your future. If you're interested in working for a company that truly invests in their people to create a culture of belonging and innovation, we want you on our team.

      Careers at UKG
      Early Career & Internships
      Benefits
      Life at UKG
      Featured Locations
      FAQs
      Experience awesome at work.
      Search jobs at UKG Search jobs at UKG
    Contact Sales Support Careers
    United States (English)
    Americas
    • United States (English)
    • Canada (English)
    • Canada (Français)
    • Mexico (Español)
    Europe, Middle East & Africa
    • United Kingdom (English)
    • France (Français)
    • Deutschland (Deutsch)
    • Nederland (Nederlands)
    • Other EMEA Locations
    Asia/Pacific
    • India (English)
    • Australia (English)
    Find the product that best fits your needs.
    Get started Get started
    get started
    Search Get started Get started
    Payroll icon
    Payroll

    How Long Will the Labor Market Stay Consistent?

    September 27, 2022
    Two smiling restaurant workers
    • Share
    See all blog stories See all blog stories
    Stay up to date with The People Purpose Blog
    Subscribe via email Subscribe via email
    Subscribe via RSS

    Written By

    UKG Staff Editors
    UKG Editors
    UKG Editors

    UKG editors contribute stories about people, products, and events at UKG, as well as life-work trends and technologies that help UKG customers, employees, and partners put people first.

    Workforce Activity Report - March 2022
    UKG Live Labor Market Briefing

    This live labor market briefing will highlight UKG expectations for the upcoming BLS employment report with unique analyses and actionable information for economists, policy makers, and employers seeking the most current data sources to support forecasting and planning.

    Register now. Register now.

    Topics

    Workforce Activity Report Workforce Activity Report Research and Workforce Trends Research and Workforce Trends Economy Economy Turnover Turnover Financial Services Financial Services Retail, Hospitality, and Food Service Retail, Hospitality, and Food Service Healthcare Healthcare

    In September, the labor market continued to experience its longest period of relative consistency since the onset of the COVID-19 pandemic. That’s not to say the economy is back to normal. It remains out of balance, with approximately 1.8 job openings for every unemployed person.

    Turnover and inflation also remain at or near historically high levels. Still, we’re seeing a level of consistency that we have not experienced since late 2019 and early 2020.

    Analyzing UKG workforce data for September 2022, the total volume of shifts being worked during the same week the Bureau of Labor Statistics uses to measure job creation declined -0.3%. As we’ve explained in previous months, declines in shift work are not necessarily bad, and they do not necessarily translate into a loss of jobs in the economy.

    The big picture   
     

    To understand September, we should consider the month in broader context.

    First, we’ve now seen gradual declines in shift work volume in 6 of the last 7 months. The last large swing in shift work was in January, during the height of the omicron wave when it felt like most of the country was calling out sick from work, followed by the sharp snapback to normal in February.

    Next, the changes from August to September 2022 are similar to changes we saw between these two months over the last three years. In each instance, August experienced larger shiftwork declines, while September exhibited signs of improvement as people returned from vacations and time-off.

    Lastly, we are not seeing any indication of widespread layoffs among the hourly workforce.

    Takeaways 
     

    While news of rightsizing and downsizing in the tech and finance sectors continue to make weekly headlines, the retail industry is making news by (cautiously) ramping up holiday hiring (although, the forthcoming annual UKG retail holiday survey finds a third—33%—of organizations will scale back hiring for the remainder of the year). UKG high frequency data also shows healthcare achieved its first month-to-month gains in shift volume since February.

    Overall, UKG expects a positive, though modest, jobs report, which will likely not exceed the pre-adjusted August 2022 growth of 315,000 new jobs. While it appears as though the Federal Reserve’s continued interest hikes are indeed bringing the labor market in for the desired soft landing, the consistency we are currently experiencing may be disrupted should there be another unexpected shock to the economy.

    UKG will release its full September 2022 report on Tuesday, October 4, and will discuss expectations for the BLS report during the monthly UKG Live Labor Market Briefing, taking place on October 4 at 10 a.m. ET.

    Register to attend the UKG Live Labor Marketing Briefing.
    • The People Purpose Blog
    • How Long Will the Labor Market Stay Consistent?

    Related Stories

    Automated Employment and Income Verification
    The People Purpose Blog

    5 Benefits of Automated Employment and Income Verification

    Learn how streamlining the employment and income verification process reduces HR’s workload and empowers employees. 

    Remote work compliance
    The People Purpose Blog

    Remote Work Compliance: 6 Factors to Consider

    Employment law for remote workers is increasingly complex. Consider these six factors when evaluating remote work compliance. 

    Pay Reporting -- Despite a federal program, state governments are taking matters into their own hands.
    The People Purpose Blog

    The Latest on Pay Reporting Requirements for Employers

    Despite a federal program, some states have taken pay reporting requirements into their own hands. Here's what employers need to know.

    UKG logo

    Footer menu

    • Human Capital Management
      • Human Resources
      • Payroll
      • Talent
      • Reporting and Analytics
    • Workforce Management
      • Time & Attendance
      • Scheduling
      • Compliance
    • Product Suites
      • UKG Pro
      • UKG Dimensions
      • UKG Ready
    • Customer Experience
      • Implementation
      • Support Experience
      • UKG Community
      • Customer Stories
    • About Us
      • Why UKG
      • Culture
      • Our ESG Program
      • Leadership
      • Newsroom
      • Careers
      • Privacy and Security

    Sub Footer

    • Modern Slavery Statement
    • Accessibility
    • Cookie Choices
    • Cookie Notice
    • Terms of Use
    • Trademarks
    • CCPA Notice
    • Licenses
    • Privacy Notice
    © 2023 UKG Inc. All rights reserved.

    Kronos SaaShr, Inc., a UKG Company (NMLS ID#1698726) provides money transmission services on behalf of UKG Inc. customers and in connection with certain UKG products.