Le Lézard
Classified in: Science and technology
Subject: Economic News/Analysis

U.S. Economy Showing Signs of Restabilizing, According to Magnit's Winter 2023-24 U.S. Labor Market Report

Magnittm, an Integrated Workforce Management (IWM) platform provider, today released the results of its Winter 2023-24 U.S. Labor Market Report. With the workforce evolving amid shifting labor dynamics, challenges such as labor shortages, wage disparities, and layoffs are likely to persist. However, multiple data points suggest an overall upswing, according to the report. Additionally, the report highlights data-driven strategies organizations might implement to overcome these difficulties and thrive in the new year.

"Through a careful examination of labor market data, we've uncovered a more optimistic perception of the U.S. economy's trajectory," said Dustin Burgess, Senior Vice President of Strategic Advisory at Magnit. "Our hiring, voluntary termination, and rate-of-change data analyses indicate positive shifts ahead, as does the influx of innovation from artificial intelligence. It's going to be a time of great opportunity for employers who prepare strategies that take advantage of the evolving labor market."

Key takeaways from the report include:

Magnit's Winter 2023-24 U.S. Labor Market uses billions of data points from hundreds of thousands of workers across 51,000 roles to uncover trends affecting recruitment, retention, and staffing efforts. The company uses proprietary algorithms that aggregate, cleanse, anonymize, and analyze data from a variety of internal and external sources, including hundreds of client programs. To learn more about the latest U.S. labor market trends, download the full report.

About Magnit

Magnittm is a global leader and pioneer in contingent workforce management. Our industry-leading Integrated Workforce Management (IWM) Platform is supported by 30+ years of innovation, modern software, proven expertise, and world-class data and intelligence. It enables companies to optimize talent and diversity goals while achieving operational and financial success. With Magnit, companies can adapt quickly to the evolution of work to grow their extended workforce with greater agility, transparency, and speed. magnitglobal.com

"Magnit" is a trademark or registered trademark of Magnit, LLC. Any trade, product, or service name referenced in this document using the name "Magnit" is a trademark and/or property of Magnit, LLC.

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