Economic Outlook

The U.S. labor market remained extremely tight throughout 2022. According to the Bureau of Labor Statistics, 4.5 million jobs were added in 2022 and unemployment was at 3.5% for December, which is a significant drop from when it historically peaked at 14.7% in April 2020. The current unemployment rate, on track with pre-pandemic levels of 3.5%, is expected to increase as the coming 12 months unfold. According to the jobs report, hourly earnings increased by 5.1% on average over the last year. Additionally, the labor force participation rate in December was 62.3% and remained roughly the same throughout the year.

We have so much to be thankful for this Thanksgiving. To our incredible team members, candidate network, Temporary Representatives, and client organizations, we thank you immensely. We are beyond grateful and appreciative of the community that supports JOHNLEONARD. We deeply value your relationship and would not be here without YOU.

This week, September 12-18, we are joining the American Staffing Association (ASA) in celebrating National Staffing Employee Week! We are proud to take this opportunity to honor the many contributions of our incredible Temporary Staffing Representatives.

COVID-19 Recession

The coronavirus pandemic has caused significant hardship to the U.S. economy. From the very beginning of the crisis, the labor market was severely disrupted, sending the unemployment rate to record highs and causing millions of Americans to leave the labor force. Congressional Research Service data shows, that in April 2020, the unemployment rate reached 14.8%—the highest rate observed since data collection began in 1948, and nonfarm payrolls shed 22.1 million jobs between January 2020 and April 2020. Many individuals left the workforce over this period, and by April 2020 the labor force participation rate declined to 60.2%, a level not seen since the early 1970s.

We have so much to be thankful for this year, most of all for YOU! We want to share our genuine appreciation to our hardworking team members, candidate network, loyal Temporary Representatives, and our incredible client organizations.

Hosting a company holiday party is a great way to bond with your team. At JOHNLEONARD, each year we look forward to our holiday party. It is a highly anticipated day where the whole office can get together and celebrate our accomplishments at the end of the year, create new memories, and have fun with our colleagues.

This week, September 13-19, we’re joining the American Staffing Association in celebrating National Staffing Employee Week! JOHNLEONARD is proud to take this opportunity to honor and recognize the many contributions of our amazing Temporary Staffing Representatives. We continue to support and thank all of our employees who have been deemed essential during COVID-19 and appreciate your hard work and efforts to keep our community safe and healthy.

We have so much to be thankful for this year, most of all for YOU! We want to share our genuine appreciation to our hardworking team members, candidate network, loyal Temporary Representatives, and our incredible client organizations. Without your support through the trials of this year, we would not be where we are today.

During this special week, we are celebrating National Staffing Employee Week by honoring the many contributions of JOHNLEONARD’s remarkable Temporary Staff Representatives. Although this year has presented its many challenges, one thing is for certain, our Temporary Representatives have continued to show us patience, flexibility, positivity, persistence, and unwavering commitment to us.

Wrapping up the end of a recession-free decade

The U.S. labor market in 2019 can be described as historically record-breaking.  It surpassed Economists' predictions, reflected a surge of strength, and has been the greatest job market since the late 1990s. For an entire decade, the first time in history, there was no report of an economic recession. The unemployment rate in December 2019 dipped to a half-century low (3.5%), the lowest it’s been since September 1969. And the economy has been stable and steady for 126 consecutive months, adding thousands of jobs in a variety of sectors, including health care, professional and business services, manufacturing, transportation, and much more.