The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you consent to the use of cookies. 

Faster Than Expected: The US Labor Market Continues to Tighten

July 2015 | Executive Action Report

Need workers? Tight labor markets have become a problem for US employers faster than anyone expected. Unemployment dropped to 5.3 percent in June, thanks to boomer retirements and a productivity slump that forced companies to add new workers. Unemployment shows signs of dropping even further, possibly to 4 percent by mid-2017, a rate reached just once since 1970. What does this mean for employers? Difficulty hiring and retaining qualified workers, and wage growth that may further cut corporate profits, are on the horizon.



Gad Levanon, PhD

Vice President, Labor Markets
The Conference Board


Michael Paterra

Research Assistant
The Conference Board

Our Experts


Gad Levanon, PhD

Vice President, Labor Markets


Jeanne Shu

Associate Director, Help Wanted Online®


Ben Cheng

Senior Methodologist, Data Analytics


Elizabeth Crofoot

Senior Economist

Steemers Frank - bio picture_25april2019_website.jpg

Frank Steemers

Senior Economist


Agron Nicaj

Associate Economist


Support Our Work

Support our nonpartisan, nonprofit research and insights that help leaders address societal challenges.