FirstPRO 360 News
The War for Talent – Q2 2022
Posted: May. 18th, 2022 at 8:27 pm under White Papers
The “war for talent” has elevated and candidates are demanding more than previously seen. Job market trends are continuing to show a demand for increased salary/wages and more hybrid/remote work options. As the cost-of-living increases, companies must increase their budgets.
State of the Market
Overall, the U.S. labor force participation rate changed very little in the first quarter of 2022, hovering around 62.4%. The employment population ratio increased by only 0.2 percentage points to 60.1 in March. Both these measures remain lower than pre-pandemic February 2020 values.