- Job listings may take a dip from April to May.
- The labor market is trending back to pre-pandemic levels.
- As the great resignation continues, it is likely this could affect the labor market by the end of 2022.
The labor market is projected to continue to get back to pre-pandemic status as the number of job listings is projected to be still on a slight decline.
According to the U.S. Labor Department’s job report for April 2022, employers added 428,000 jobs and the unemployment rate is still holding steady at 3.6%. The market has been consistent over the last month and is remaining stable.
According to our projected data it is likely that the number of job listings will see a decrease for the month of May with a 21% decline in open positions. But, many experts expect the great resignation to continue, and it is projected that 1 in 5 Americans will switch careers by the end of 2022. Will this inflate the current market again?
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the May post-job report.