Understanding America’s Labor Shortage
Here’s an eye-opening fact that truly captures that enormous hiring challenge facing USA employers of all sizes.
If every unemployed person in the country found a job, we would still have 5.3 million open jobs.
The U.S. Chamber of Commerce published research in early February of 2022 that featured this fact along with other data that the Croixstone team found fascinating. The following data points truly help to shape the story of today’s labor market.
- We have 11.3 million job openings in the USA – but only 6 million unemployed workers.
- As of October 2021, the pandemic drove 3 million adults into early retirement.
- The childcare industry lost 370,600 jobs between February and April 2020 – and is still recovering.
- Women participating in the workforce is at its lowest rate since the 1970s.
- Last year, more than 47 million workers quit their jobs.
- A Gallup survey found that 91% of workers in the USA hope they can continue to work some of their hours from home.
- 3 in 10 workers surveyed by Gallup signaled they would seek now employment if they were recalled to the office.
Learn more about the U.S. Chamber research here.
The seismic disruption in the USA’s workforce mandates that organizations of all sizes reimagine their people strategies. Croixstone’s team of highly-experienced human capital professionals are here to ideate and bring new thinking to your HR organization. Reach out to us today and let’s kick-start a conversation.