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SMX Quarter 4 2023 Recruiting & Wages Report

February 12, 2024

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The Q4 labor market seemed to level off in Q4 more and more. The national unemployment rate in the U.S. remained stable during the final quarter of 2023, with an average rate of 3.7%. This is the same rate observed in the previous quarter. A closer look at the data reveals that October had a slightly higher unemployment rate of 3.8%, but the rate returned to 3.7% in both November and December. The unemployment rate throughout 2023 showed very little variation, staying between 3.4% and 3.8%.

Some industries such as government jobs, healthcare, social assistance and construction trended upward in employment. While others such as transportation and warehousing lost jobs in Q4.

Want to stay up to date on all staffing and recruiting trends? Access the full guide at staffmanagement.com/resourcecenter

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SMX Quarter 4 2023 Recruiting & Wages Report

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Next Flipbook

Explore More Content

Hiring, training and retaining your employees may be challenging again this year, but we have a few ideas for you. This year it is important to get creative and think outside the box.

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