Job Market Economics

Weekly Insights Into The Health of the Job Market, Unemployment, Layoffs, WARN Filings, Reduction in Force (RIF), and Outplacement Services Needs

AUGUST 12 - AUGUST 18, 2019

TABLE OF CONTENTS

1. REAL-TIME INSIGHTS

2. UNEMPLOYMENT STATISTICS

3. MAJOR WARN NOTIFICATIONS & LAYOFFS

4. TURNOVER CALCULATOR

TODAY'S UNEMPLOYMENT RATE

3.7%

The unemployment rate remained steady in July 2019, and the number of unemployed persons changed very little at 6.1 million. Total non-farm payroll employment rose by 164,000 in July.

EMPLOYMENT BOOST REAL-TIME INSIGHT

Uncertainty in the markets, and global political instability, is leading to an uptick in layoff announcements both domestically and internationally. While the financial markets and the greater US economy are not always correlated, our analysis is indicating a correlation between days of market sell-offs and employment instability.

Last week, we saw an uptick in WARN notifications, as well as an uptick in layoffs due to restructurings or acquisitions - which furthers the confusion around the state of the economy and current job market conditions. 

Each market pullback is correlating to an increase in career services demand, which indicates movement in the job economy - individuals become unemployed and looking for new jobs, or employed individuals looking for greener pastures.

JULY 2019 UNEMPLOYMENT RATE (%)

unemployment rate outplacement services employment boost job market insights

DURATION OF UNEMPLOYMENT (JUNE 2019 vs JULY 2019)

unemployment rate outplacement services employment boost job market insights

JOB MARKET INSIGHT

43,000

In the first seven months of 2019, nearly 43,000 workers have lost jobs due to company bankruptcies.

This is higher than the full-year total of any year since 2009.

EMPLOYEE TURNOVER CALCULATOR

Employee turnover is a great indicator of the health of a business or industry. Calculate your business' employee turnover below:

  • Average number of employees over the past 12 months

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