Labor market ‘very strong’, demand ‘still there’, labor analyst says

EmploymentBridge chief labor analyst Joanie Bily said the labor market is “very strong” and the demand for workers is still active, during an interview on “Mornings with Mary”.

Joanie Bily: The labor market is still very dynamic. The demand is definitely there. We see it in trade and transportation. The professional and business services sector is certainly travel, leisure and hospitality. These jobs are all coming back. However, we are seeing, you know, employers and CEOs are going to be more cautious right now. So they are not putting an end to the hiring. But I would say that we feel a bit on hold. And that just comes from uncertainty. They’re waiting to see what happens with the market, you know, being so volatile and inflation and all the different issues that we face today, the supply chain challenges that we have.

EmploymentBridge’s Chief Labor Analyst, Joanie Bily, provided insight into the May jobs report on “Mornings with Maria.” ((Photo by STEFANI REYNOLDS/AFP via Getty Images) / Getty Images)

There’s so much going on that I think we might see a slight slowdown. But the truth is that the demand is still there. We have 11.4 million open jobs. Employers are struggling to find talent, so they don’t want to put the brakes on completely, but they’re a little more cautious. So my prediction would be next month when we look at the June employment numbers, we might see that number might start to slow down. But of course, it can signal that it’s still a very strong report. And I also think, a good sign, that labor force participation has only slightly increased. This is the number we really need to see moving. And I believe that we will do it because of the inflation, people go back to work because they have to, they need the money.

US ECONOMY SEES SOLID JOBS GROWTH IN MAY AS WAGES RISE BY 390,000

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