US employment accelerated in June as companies boost perks omanobserver.om - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from omanobserver.om Daily Mail and Mail on Sunday newspapers.
Lucia Mutikani
5 minute read
An In-N-Out Burger advertises for workers at their restaurants location in Encinitas, California, U.S., May 10, 2021. REUTERS/Mike Blake/File Photo
Summary
Unemployment rate seen falling to 5.7% from 5.8% in May
Average hourly earnings forecast up 0.4%; workweek steady
WASHINGTON, July 2 (Reuters) - U.S. job growth likely picked up in June as companies, desperate to boost production and services amid booming demand, raised wages and offered incentives to lure millions of reluctant unemployed Americans back into the labor force.
The Labor Department s closely watched employment report on Friday will likely show that the economy closed the second quarter with strong growth momentum, following a reopening made possible by vaccinations against COVID-19. More than 150 million people are fully immunized, leading to pandemic-related restrictions on businesses and mask mandates being lifted.
Labor data analysts are warning of a worsening “demographic drought” and its impact on a shrinking workforce and the American economy. The crisis, they said, is caused by a shortage of people that is projected to continue for the rest of this century and affect every business.
New Emsi Study: Historic Decline of U.S. Population Growth Is Leading to Transformation of Labor Markets & College Enrollment
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Fundamental Shifts Ahead for Economy “SANSDEMIC” will bring wholesale change to companies & college campuses.
Businesses can no longer assume there will be enough people to go around. We are already starting to see substantial rises in wages as the market works to find the new equilibrium, along with production slowdowns from those companies that cannot find the talent. MOSCOW, Idaho (PRWEB) May 06, 2021 The national labor data experts at Emsi released today a bellwether research report outlining the trends and economic impacts from the historic decline in population growth. Labeled the sansdemic - or “without enough people” - Emsi’s data reveals the demographic cliff facing businesses, colleges, and local communities in the coming years.
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