The United States Department of Labor releases the unemployment number the first Friday of every month. July’s unemployment was 7.4%, non-farm payrolls were 162.000. The labor market has dropped from 8.3% to 7.4% since last year. The unemployment number is a lagging indicator, long before the employment improves the economy has reactivated. Being this the case and with an economic rate policy at it lowest level, 0.25% for the longest time, it will not be long before the unemployment rate drops to 6.5%, level at which the rates will start to rise, according to the latest FOMC Policiy Statement. 

Unemployment Rate – Data US Department of Labor

 

Estimates are pointing toward the end of 2014 or beginning of 2015 for unemployment to fall below this levels. This is the appropriate period for a company to set up the platform for a new wave of economic growth. The assessment of talent your company needs for a period of economic growth is imminent. With online and social communities becoming so active, top talent is having lots of opportunities thus making it harder and more expensive for companies to close and acquire top candidates. ConsulTree offers strategic and planned solutions for talent acquisition to be prepared for the next wave of economic growth.

Content by @patvalderrama