Intro: It’s October, so we’ve officially entered sweater weather, apple picking, hayrides, and of course, pumpkin spice EVERYTHING. Since it’s a new month, we, of course, had to try a new drink while we reviewed the latest labor stats.
Coffee Shop: 205 Coffee Bar
Drink: Pumpkin Spice Latte
Our Review: Somewhere between the Insta-worthy floral mural and real pumpkin used to make our pumpkin spice latte, we fell in love with 205 Coffee Bar. Everyone is treated like a regular at this joint, so you don’t have to worry about the barista judging your pumpkin spice order, they’re probably going to have one themselves after their shift. One sip of this classic fall latte will have you ready to kick your productivity into gear because Monday has nothing on you. Let’s do this.
Job Numbers: A new month means new job numbers and labor stats are just waiting for us to check out! While these numbers may not be as exciting as that first PSL of autumn, we’ve covered them all in great little graphs you can show your friends, co-workers, or even your grandma.
This latest round of unemployment stats continued to show a strengthening economy as we saw mainly small increases or decreases in rates but nothing that really surprised us. The current national unemployment rate is 3.9%, the same as last month and all the markets we serve were right in line with or just below the national average. We can also note that the rates we’re seeing continue to be normal despite issues surrounding the trade war with China and new USMCA deal as the economy continues to bounce back from the 2008 recession.
We saw an increase in jobs added in all of the markets we serve! It could be because we’re so great at our job, but we’d guess that’s not the sole reason. We’ll also give credit to rising job creation to the continued growth in the economy. We also wanted to check out the rate of separations to see how that stat compared with the job growth numbers.
The latest numbers for the Rate of Separations continues to stagnate at 3.7%. It’s a bit discouraging the rate has remained the same for three months. While the Rate of Separation also counts all types of situations where employees leave the company, including, termination, layoff, and quitting; we’d like to see some changes that reflect the growing and strengthening economy.
Looking at these retention stats, employers need to keep in mind how crucial it is to keep their employees satisfied and engaged in their role since we continue to be in a job seeker’s market. Woah, that was a lot of numbers! Let’s break it down one more time.
- The national unemployment rate is 3.9%, and all the markets we serve are right in line or slightly below that average. We also didn’t see any significant changes in our market’s unemployment rates.
- We’ve continued to see healthy job creation numbers increase in all the states we have branches in.
- The Rate of Separations has remained the same for the past three months even as the economy continues to strengthen.
- Employers need to pay attention to that retention stats out there and do what they can to ensure they retain their top talent.
Well, there you have it folks, the latest in job numbers and labor stats in the market’s we’re proud to serve here at Workbox Staffing.