Business wire
UKG: As 2025 Begins, Watch for Possible Cracks in the Labor Market
UKG:
Summary: |
According to the UKG Workforce Activity Report for December, workforce activity at U.S. businesses declined -1.0% in the final month of 2024. While the decline was smaller than the historical monthly trend for December, sectors including healthcare, manufacturing, and the public sector posted larger than anticipated declines. These could harbor deeper weaknesses that may be emerging in the labor market as 2025 begins. |
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Commentary: |
Edward Hearn, Ph.D., Lead Labor Economist, UKG “While working losses in December are expected based on seasonal trends, we’ll need to keep a close eye on January to determine whether we should be worried about deeper labor market weakness. Our data is beginning to indicate some cracks in what has been historically strong employment growth. We’ll learn more about what type of year 2025 may be for the labor market over the next month.” |
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Industry Spotlight: |
Growth in retail and services anchored December, while other industries experienced declines:
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Learn More: |
Register to attend the UKG Labor Market Briefing series. The next briefing is today, January 7, 10:00 a.m. ET. |
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Significance: |
The UKG Workforce Activity Report uses dynamic, high-frequency data from a panel of 6.2 million active U.S. employees to understand workplace trends week-by-week. Reports are published and briefings are held each Tuesday prior to the publication of the BLS Employment Situation Report. Upcoming publication schedule:
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About UKG
At UKG, our purpose is people. We are on a mission to inspire every organization to become a great place to work through HCM technology built for all. More than 80,000 organizations across all sizes, industries, and geographies trust UKG HR, payroll, workforce management, and culture cloud solutions to drive great workplace experiences and make better, more confident people and business decisions. With the world’s largest collection of people data, work data, and culture data combined with rich experience using artificial intelligence in the service of people, we connect culture insights with business outcomes to show what’s possible when organizations invest in their people. To learn more, visit ukg.com.
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