The new Conference Board Help Wanted OnLine® (HWOL) Index is declining
October 18 | Agron Nicaj, Associate Economist, The Conference Board | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Comments (0)
The Conference Board Help Wanted OnLine™ (HWOL) Index has been declining for much of 2019, indicating a slowdown in employment growth. While the HWOL index is certainly weakening, it is nowhere near recession territory. The current decline is about the same as the slowdown in 2015-2016, but much smaller than that of the Great Recession.
Overlooked on economy? Rising paychecks for blue-collar workers are shrinking the wage gap
September 18 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Comments (0)
Monthly reports on the number of new jobs and the unemployment rate can drown out important trends like these two: After four decades of worsening, wage inequality has started shrinking. And in a twist, America’s blue-collar workers are playing the biggest role in driving that reversal.
Automation is making a comeback
May 31 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Comments (0)
Now, more than in any other time during this decade, we see signs of a comeback in automation activity. The timing could not be better. Labor shortages are becoming a growing problem for the US economy, especially in jobs that do not require a college degree, which in large part are the jobs where automation is likely to have the most impact. From a demographic perspective, this problem is only going to get worse.
Participate in our 2019 Labor Shortages Solutions Survey
May 28 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Elizabeth Crofoot, Senior Economist, Labor Markets, The Conference Board | Robin Erickson, PhD, Principal Researcher, The Conference Board | Comments (0)
There are many anecdotes in the media today of employers across a range of industries wanting to hire more people, but not being able to find them: trucking companies facing driver shortages, retailers and restaurants being short-staffed, and construction companies and manufacturers encountering a limited supply of skilled or STEM-educated applicants.
Even as Self-Driving Cars Take to the Road, Drivers Will Still be in High Demand
May 27 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Frank Steemers, Associate Economist, The Conference Board | Comments (0)
Through at least the next decade, human truck drivers, bus drivers and taxi drivers will remain in strong demand. And during that time, self-driving technology will put little, if any, dent in that demand.
What’s new in the US labor market – May 2019 Edition
May 15 | Gad Levanon, Ph.D., Chief Economist, North America, The Conference Board | Comments (0)
In 2009, the US labor market was the weakest since the Great Depression. In 2019, after a decade of strong hiring and the retirement of about 3 million baby boomers a year, the US economy is experiencing the lowest unemployment rate in 50 years. Employers are experiencing historical difficulties in recruiting and retaining workers, especially in blue-collar and low-paid occupations. In the next 12 months, despite some slowing in economic growth, labor markets will get even tighter.