Another strong job report out of the U.S. Bureau of Labor Statistics Friday, reporting 528,000 jobs added in July and an unemployment rate that edged down to 3.5 percent.
If you would like more context on the matter, please consider Dr. Christopher Kayes, a professor of management at the George Washington University School of Business. He is an expert on leadership, resilience, teams, and workplace well-being.
“The outlook from the jobs report today is that the economy continues to go gangbusters. This is a blowout jobs report with almost twice as many jobs created than people had predicted,” Professor Kayes says. “I think this is really going to make people continue to question whether the economy is going to be tanking.”
Dr. Kayes says the latest jobs report also indicates that the ‘Great Resignation’ is not going anywhere anytime soon. There is still a churn in people leaving their jobs for new ones.
“I think a lot of it is going to be shocking to those managers, those CEOs, those leaders who think that a recession will be something that allows them to hire more people, that it’s going to change the job market,” Professor Kayes says. “I don’t think with the number of people looking for jobs and the number of jobs out there, there’s going to be a huge change in the labor market. There will still be more positions than there are people to fill them and organizations that don’t change the way they do business are going to continue to fall short in hiring.“
If you would like to speak with Professor Kayes, please contact GW Media Relations at [email protected] or 202-994-6460.
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