How will your business help the labor force this year?
While the American economy is slowly improving, the Bureau of Labor Statistics reported that job creation remained below expectations for the second straight month. While their findings fall short of the projected 180,000 newly-created jobs in the United States, the report is not all bad.
"Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate was little changed at 6.6 percent," the bureau's report reads.
Last month's unemployment rate continues to break records because it shows that the labor force participation rose 63 percent from 62.8 percent in December, Business Insider explained. The winter is one of the slower times of the year to hire professionals due to the holidays, but companies are trying.
On top of that, industries like wholesale trade, construction and manufacturing that are traditionally impacted by poor winter weather actually helped job creation.
Taking into account that the number of Americans who are underemployed also dropped in January, now might be the best time for employers to begin hiring again. Many of these highly qualified job seekers are looking to leverage their skills in the labor force. HR software solutions can help expedite that process.
The economy cannot naturally fix itself without the help of working Americans. These employees can help increase productivity by launching new ideas or products. Without these workers, many business owner could lose out on opportunities within their respective markets.