UKG: "Pleasantly Boring" August for Labor Market

Workforce activity remained steady overall across most sectors, creating a “pleasantly boring” month for the labor market, according to the August 2023 Workforce Activity Report published by UKG. Although shift work decreased 0.8% in August 2023, the decline mirrored August 2022 activity and historic seasonal trends, and the labor market remains relatively strong as summer comes to a close.

UKG will discuss current and future potential trends shaping the frontline economy on August 29, at 10:00 a.m. ET, including:

• Why no news may actually be the best news for employees and businesses;
• The minimal declines across industries, including services and distribution (-1.1%), manufacturing (-0.6%), and retail, food service, and hospitality (-0.4%), with healthcare remaining steady for the fifth consecutive month;
• Whether UKG data continues to show the highly sought-after “soft landing” remains intact; and
• Is the tight labor market still expected to have an impact on wages later this year?

Register to attend the briefing.

The UKG Workforce Activity Report is a high-frequency index analyzing shift work trends from 4.3 million people across more than 35,000 U.S. businesses to understand the economy. Reports are published and briefings are held each Tuesday prior to the publication of the BLS Employment Situation Report. Upcoming publication schedule:

• September 2023 Workforce Activity Report: October 3, 2023
• October 2023 Workforce Activity Report: October 31, 2023
• November 2023 Workforce Activity Report: December 5, 2023