Why Companies Should Invest in Growing Their Team Now: A US Job Market Update
The US job market is showing remarkable resilience and growth, making it an opportune time for companies to invest in expanding their teams. According to the Bureau of Labor Statistics, the US economy added 272,000 jobs in May, significantly surpassing economists’ expectations of 190,000 and April’s gains of 165,000. This surge in employment, primarily driven by the health, education, leisure, hospitality, and government sectors, underscores a strong labor market despite high interest rates. With unemployment remaining at or below 4% for over two years and layoffs down 20% from last year, businesses should seize this moment to grow their workforce. Here’s why investing in your team now can benefit your company in the long run.