The U.S. economy added 187,000 jobs in July – the most modest gains since late 2020. Job growth appears to be normalizing while strong wage growth and a steadily low unemployment rate reflect the labor market's resiliency.
The gap between job openings and available talent remains significant at nearly 1.6 jobs for every available worker. And while the labor participation rate remains steady at 62.6%, it's still below the 63.3% last seen in February 2020.
This means employers need to get creative about addressing the skills gap — leveraging a combination of upskilling, reskilling and outside talent. As RGP CEO Kate Duchene told Bloomberg’s The Tape Podcast last month, “This imbalance in available work and available talent is going to persist. That’s not something that’s going away when recession worries go away.”
Read on for more news and insights from the Now of Work, including:
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What's New?
Building a People-Centric Organization
How can organizations create a positive and inclusive work environment in the era of hybrid work? In this Happier at Work podcast with Aoife O'Brien, RGP Chief People Officer Katy Conway highlights the importance of listening to employees and incorporating their feedback into decision-making processes.
How AI Is Reshaping Demand for IT Skills and Talent
With artificial intelligence poised to become a business priority across every industry, employers are eyeing the skills necessary to lead the next leap in AI-assisted digital transformation, reports CIO.
Increasing Healthcare Services Revenue with Advanced RCM
As healthcare organizations struggle to bring revenue back to pre-pandemic levels, advanced Revenue Cycle Management (RCM) is emerging as a vital tool for delivering a positive patient financial experience while maintaining regulatory compliance.
5 Leadership Tips for CFOs to Maintain Culture Amid Growth
As CFOs set growth goals, commitment to organizational culture shouldn’t be left by the wayside. When the business grows, the culture, governance, and ethics must grow as well.
Banks Get Clearer Views of Risk Using AI, Data Integration and the Cloud
Rising interest rates, turbulence in the banking industry, and questions over potential regulatory changes have caused banks to invest in AI, cloud and data integration technologies to get a more holistic view of risk.
Take Control of Your Controls with Integrated Risk Management
Managing audits is challenging, especially with heightened regulatory demands. With RGP-Veracity, there’s a better way to keep your business protected.
BlackLine’s Beyond the Black: September 11th-13th in San Diego
BeyondTheBlack is three days of excitement, connection, and education, curated specifically for F&A professionals. Get inspired by checking out the full agenda and register today to reserve your spot in our most popular sessions. And stop by our booth in the Sponsor Expo Hall to say hello!
Maximizing Profitability Through Operational Excellence [webinar]
Operational Excellence has re-emerged as a top business priority for many of our clients, driven by the tight labor force and the potential for digital transformation to drive greater business efficiency. Learn what’s required in this Midmarket Strategic Initiatives Council webinar with RGP and SAP.
Is Your Organization Prepared to Secure Payment Data with PCI 4.0?
The PCI DSS (Payment Card Industry Data Security Standard) is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. Learn what new requirements will mean for merchants and service providers as RGP PCI experts discuss the evolution of the standard, broader scope, and updated requirements as well as a simplified approach to compliance.
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