Key Steps to Satisfying Workforce Needs
1 Mar 2023
According to the Bureau of Labor Statistics most recent report released on March 10, 2023, the unemployment rate for March was 3.5 percent. The unemployment rate has hovered at this level over the last 12 months, ranging between 3.5 percent and 3.7 percent, except for in January 2023 where it dipped to 3.4 percent, which was the lowest rate since 1969. During times of low unemployment, employers may struggle to meet their hiring and retention needs for a skilled workforce. Without a skilled workforce, industries find themselves struggling to maintain production levels to meet customers’ needs and sales or growth goals.