Slight Reduction in New Jobs Expected for October as Workforce Activity Declines Begin to Steepen, Labor Market Cooling Continues

UKG to discuss October’s high-frequency labor data in live market briefing 

The UKG Workforce Activity Report for  shows the total number of shifts worked by people at U.S. businesses decreased 0.9% since September 2022 while the monthly index dropped half a point to 97.1, reflecting a steady cooling of the labor market entering the fourth quarter of 2022. Continued declines in retail shift volume — spanning four consecutive months, the industry’s longest negative streak since before the pandemic.

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seem to validate reports that stores are pulling back on hiring for the holiday season amid economic uncertainty, while hope for another month of shift growth in healthcare was muted by the sector’s 0.3% downturn.At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion great workplaces and build lifelong partnerships with our customers.

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to show what’s possible when businesses invest in their people. Born from a historic merger that created one of the world’s leading HCM cloud companies, our unique Life-work Technology approach to HR, payroll, and workforce management solutions for all people helps more than 70,000 organizations around the globe across every industry anticipate and adapt to their employees’ needs beyond just work.

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