What’s New?  What’s Next?  What Now?

August 2024

ON OUR RADAR

The labor market cool down continued in July as the U.S. added 114,000 jobs, falling short of the Dow Jones estimate of 185,000 and reaching its lowest total since December 2020. Apart from the early pandemic hiring plunge, we’re currently seeing the slowest hiring rate in a decade. 

RGP CEO Kate Duchene says a September interest rate cut would help spur investment and hiring but cautions, “A reversal of the stagnancy we’re currently experiencing will take some time, meaning skill acquisition will continue to be a top challenge for employers.”

“Our research shows that talent acquisition and retention is second only to the integration of AI and automation in terms of the biggest concerns businesses have for the remainder of the year,” Kate said. 

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