The Jobs Report & Families 👪

The October jobs report showed an added half a million jobs, a better than expected unemployment rate of 4.6%, and a roughly 5% increase in wages. The only disappointing metric involved how many people are not ready to get back to work. In the wild world of predicting and analyzing the jobs market, it's staggering to think of all the components wrapped into why people aren't lacing up their boots or clocking in at the same numbers as pre-pandemic levels.

   

Overall, there are 10MM jobs in the U.S. that need filling, but they don't necessarily match the types of jobs people are seeking. Knowledge-based workers, in particular, are in a position to be extra picky on their job hunts, relying on the financial cushions accumulated during the pandemic. In addition, many folks retired early and won't be returning to the jobs market. 

In the meantime, employers are seeking to make workplaces more amenable to life's caregiving responsibilities, which don't necessarily fall outside the 9-5 schedule neatly, by providing services for caregiving for aging loved ones and flexibility around workdays.