Category: Human Resources
This week, we are looking back at the labor market performance through the first quarter of 2024. We’ll dig into how actual labor market performance has compared to forecasts. U.S. employers added 303,000 jobs in March, capping off an impressive stretch where hiring has surpassed expectations. How has 2024 labor market performance held up to […]
Written by Mallory Vachon, PhD on April 24, 2024
If you don’t have an established comp strategy, or are concerned yours has some room for improvement, don’t worry. This article, and our series on building a compensation strategy, offer insights for small- and medium-sized businesses and HR leaders. If you’re just getting started, or maybe you’re a small team with little bandwidth to implement, […]
Written by LaborIQ on March 28, 2024
This week, we are digging into what makes a good (and not so good) job description. Job descriptions are often the first impression potential new hire has of your company. A poorly written job description can be a turn off for candidates, something most businesses can’t afford in one of the most competitive hiring markets […]
Written by Mallory Vachon, PhD on February 19, 2024
This week, we are digging into LinkedIn’s Jobs on the Rise list. The list includes the 25 fastest-growing jobs in the U.S. over the past five years. This shouldn’t come as a surprise, but many of the jobs on LinkedIn’s list – like Nurse Practitioner, Recruiter and Revenue Operations Director – are among the most […]
Written by Mallory Vachon, PhD on January 26, 2024
This week, in our last newsletter of the year, we are recapping 2023. From an economic perspective, we’ll explore how the labor market turned out to be much stronger than many expected. We dodged a recession, and the economy is on track for a soft landing. Then, we’ll look at how thousands of LaborIQ users […]
Written by Mallory Vachon, PhD on December 22, 2023
Irrational pay may be gone, but wage growth is here to stay Pay bumps for new hires have come down. But wage growth is likely to remain elevated, continuing to impact pay equity and turnover. Big picture: Great Resignation to the present To set the stage for what to expect in 2024, let’s go back […]
Written by Mallory Vachon, PhD on November 17, 2023
Are current market-competitive salaries not aligned with your expectations of what you should pay employees? Or does one of the below situations sound familiar to you ❔ Wild swings in the job market made it impossible to keep pay competitive against competitors. You interviewed many candidates who were a great fit, but you were not […]
Written by LaborIQ Staff Writer on November 1, 2023
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Written by LaborIQ on August 11, 2023
At the time of writing, at least eight US states have pay transparency laws. These laws cover 44.8 million people, accounting for 26.6% of the US labor force. These states are as follows: California Colorado Connecticut Maryland New York Nevada Rhode Island Washington On top of the above, a further 16 are reputed to be […]
Written by Rosie Greaves, LaborIQ Staff Writer on July 7, 2023
The unemployment rate is a widely-used indicator of the labor market’s health, and as such, it can significantly impact an employer’s hiring process. For example, low unemployment rates usually make it more difficult for employers to find qualified candidates to fill their open positions. On the other hand, when unemployment rates are high, employers may […]
Written by Rosie Greaves, LaborIQ Staff Writer on March 20, 2023