With the national unemployment rate expected to average 5.7% this year, 5% in 2022 and 4.7% in 2023—then average out to 4.1% between 2026 and 2031—the race is on to fill open positions before the U.S. jumps on the “stellar” economic growth track that organizations like Bank of America are predicting this year.
Already constrained pre-COVID, the labor market has been a particularly challenging point for employers this year, with some experiencing a bigger dearth than others. Warehouse labor is difficult to find, fast-food restaurants are handing out iPhones to new applicants, and other industries are coming up with creative ways to both recruit and retain workers.
