December’s 6.7% unemployment rate remains unchanged, even though 140,000 jobs were added to the payroll. The rate is significantly better than the April 2020 high of 14.7%, but there is room for improvement to reach pre-lockdown levels.
Job losses are still being felt in the leisure and hospitality industry, while employment in private school education and the government sector are also down. Construction and retail added jobs in December, along with a bump in professional services. Large gains were experienced in the temporary help industry, speaking to companies’ desire to remain agile in the uncertain economic climate.
“As we await more widespread vaccine distribution and a return to a more stable economic environment, employers should look to utilize flexible labor and contingent workers,” says Rebecca Henderson, CEO of Randstad Global Businesses and executive board member. “Both to address skills deficiencies and ensure that they can quickly respond when business demand returns for what experts are still predicting to be a year of strong economic growth.”
Get more data points from the December jobs report in Hunt Scanlon. You can also get your exclusive copy of the 2021 Talent Trends Report, “Rewrite your talent strategy playbook during extraordinary times,” for the top HR trends you need to know to drive growth in 2021.
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