Issue link: https://read.uberflip.com/i/1511633
ManpowerGroup Talent Solutions: North America QMR Q3 2023 | 4 North America Q3 2023 Key Highlights • Hiring demand in Q3 2023 remained strong but the labor market started to show signs of slowdown in Sep, with overall job postings falling by 9% in the US and by 16% in Canada from the same month last year. However, the demand for workers remained elevated. • Comparing Q3 2023 to Q3 2022, both the US and Canada saw an increase in their labor force participation rates. The increase in the US was driven by a strong labor market, with the unemployment rate at low level at 3.8% (Sep 2023). In Canada, the increase was also driven by a strong labor market, with the unemployment rate at 5.5% (Sep 2023). • Wage growth is outpacing inflation but is decelerating. • Voluntary and unvoluntary departures are stabilizing. • Despite talent scarcity, employers in the US and Canada continue to have strong hiring intentions for Q4 2023.