Kronos Incorporated:
The .@KronosInc #WorkforceActivityReport shows slowing shift growth during the COVID-19 economic recovery, averaging just 0.5% per week in August, down from 0.7%/week in July, 1.9%/week in June, and 2.7%/week in May.According to the U.S. Workforce Activity Report for Aug. 24-30 from Kronos Incorporated – which will become UKG (Ultimate Kronos Group) on Oct. 1 following its merger with Ultimate Software – non-seasonally adjusted shift work1 volume grew 0.9% week-over-week. However, when seasonally adjusted to account for the annual August surge in education sector activity, week-over-week shift growth was just 0.5%. This is the sixth straight week with seasonally adjusted shift growth under 1%.
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Growth Averages:
Seasonally adjusted average weekly shift growth by month:
May average weekly shift growth: 2.7%
June average weekly shift growth: 1.9%
July average weekly shift growth: 0.7%
Aug. average weekly shift growth: 0.5% (as of Aug. 30)
Region Snapshot:
Hurricane Laura created a 24.5% decline in shiftwork in Louisiana for the week of Aug. 24-30, as well as a 1.9% decrease in Texas. On a national level, all four regions experienced shift work growth week-over-week: While the Southeast2 grew only 0.1% – in large part due to the hurricane – the Midwest3 grew 0.6%, the Northeast4 increased shiftwork by 1%, and the West5 saw 2% growth.
Industry Analysis:
The education sector lost 74% of its shift capacity by the week ending April 19 as schools across the nation rapidly shutdown, causing teachers to shift to remote learning and school support staff to remain largely at home. As of Aug. 30, education sector activity has rebounded to 96% of this spring’s levels.
Commentary:
Dave Gilbertson, vice president, strategy and operations, Kronos
“Although shift work continues to grow – which is positive – the pace of growth is much slower than what we’ve experienced at any other point in the recovery to date. Since fall activity typically outpaces the summer months, we should look at Friday’s August unemployment report as the starting line for a new marathon, one that will take us through the fall, an election, holiday shopping, and the end of a tumultuous 2020.”
Timeliness:
The Kronos U.S. Workforce Activity Report provides near real-time shift data through Aug. 30 for 3.2 million employees to provide insights into weekly workplace activity trends for Main Street businesses. For more insights about the COVID-19 shiftwork recovery, visit www.kronos.com/USWorkforceActivity.
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