August shift work beats historic trends, sought-after soft landing remains intact

August 30, 2022

Montana Economy

Comments Off on August shift work beats historic trends, sought-after soft landing remains intact


LOWELL, Massachusetts and WESTON, Florida –(BUSINESS WIRE)–UKG:

National overview:

The UKG Workforce Activity Report for August 2022 indicates the total number of shifts worked1 by people in American companies fell 0.8%, indicating modest signs of strength in the labor market for the sixth consecutive month. Overall, August beat historical trends, with the decline in shiftwork reaching only a fraction of the 2.4% drop recorded in August 2021. The hand recovery scale UKG labor rose 2.1 percentage points to 97.6% for the month. The services and distribution sector saw the largest decline (-1.6%), while the healthcare sector remained relatively stable (-0.1%) for the first time since March 2022.

UKG will discuss the results at a live market briefing on Tuesday, August 30 at 10 a.m. ET (US and Canada). Register to attend.

Comment:

Dave Gilbertson, Vice President, UKG

“The soft landing sought for the labor market seems to continue for another month. Despite significant economic headwinds, labor force activity in August showed signs of relative strength, especially when put into the context of the usual August performance. It looks like we’ve largely avoided the end-of-season dip in labor activity that happens this time every year, as more and more people take vacations before the end of the summer, which which can be attributed to both more people being hired and people taking less time off during uncertain times. . We have now seen six straight months of steady, mild month-over-month weakening.

Industry Analysis:

Shift work in the manufacturing sector declined after growth in June and July:

  • Health: -0.1%

  • Retail trade, hotels and restaurants: -0.1%

  • Manufacturing: -1.1%

  • Services and distribution: -1.6%

Overview of the region:

August beat historical trends, despite slight declines in all regions:

  • Northeast2: -0.1%

  • West3: -0.8%

  • Midwest4: -1.8%

  • South East5: -2.0%

Size of the company :

Shift growth increased as more people were hired and fewer took vacations:

  • Less than 100 employees: -1.6%

  • 101-500: -1.1%

  • 501-1000: -0.8%

  • 1,001-2,500: -1.5%

  • 2,501-5,000: 1.4%

  • Over 5,000: -0.2%

Opportunity:

The UKG Workforce Activity Report is a high-frequency index analyzing shift work trends for 4 million people across 35,000 US companies to understand job creation and economic dynamics.

About UKG

At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion exceptional workplaces and build lasting partnerships with our clients to show what is possible when companies invest in their people. . Born from a historic merger that created one of the world’s leading cloud HCM companies, our unique Life-work Technology approach to human resources, payroll and workforce management solutions for everyone helps more than 70,000 organizations worldwide in all sectors to anticipate and adapt to the needs of their employees beyond just work. To learn more, visit ukg.com.

Footnote 1: “Shifts worked” is a total derived from aggregated employee time and attendance data and reflects the number of times employees, particularly those who are paid hourly or who have to be physically present at a workplace to perform their work, “point”. and “check out” via clock, mobile app, computer, or other device at the start and end of each shift.

Footnote 2: Northeast is defined as Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia.

Footnote 3: West is defined as Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming.

Footnote 4: The Midwest is defined as Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Texas and Wisconsin.

Footnote 5: Southeast is defined as Alabama, Arkansas, Georgia, Florida, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, and Tennessee.

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