February’s job numbers are in, and they show a modest growth of 20,000 jobs, according to the U.S. Bureau of Labor Statistics’ monthly report. This relative stagnation follows January’s stunning gain of 304,000. Yet there was better news to be found in the unemployment rate, which dropped from 4% in January to 3.8% , bringing it back near November 2018’s record low of 3.7%.
The up-and-down (and sometimes counterintuitive) numbers have many speculating as to what this means for the economy. A new article from HR Dive explores some of the implications. In addition to providing more statistics and addressing concerns of a possible 2020 recession, the article includes insight from Marissa Geist, Cielo’s Executive Vice President & Managing Director – Americas. Marissa cautioned against reading too much into a single month’s numbers and also shared how organizations are handling talent acquisition challenges during this tumultuous period.
From the article:
"While these numbers might be disappointing to those watching the economy closely, it's important to keep in mind that the U.S. continues to see solid job growth and the report offers only a brief insight into longer-term economic trends," Marissa Geist, executive vice president of Cielo, said in a statement. "While we continue to see high demand with companies facing challenges to fill open roles and increased competition for qualified talent, we are also starting to hear that other organizations are reviewing their costs and in some cases, reducing their workforces or slowing their hiring."
Visit HR Dive to read the entire article, “February job growth stagnates, unemployment falls to 3.8%.”