Q1 2017 Labor statistic highlights

Q1 2017 Labor statistic highlights

Q1 2017 Labor statistic highlights

From a business and management perspective, the time is now to be intentional with our best business practices and reasoning so we can continue to encourage as much growth as possible. Let’s take a look at a few current employment trends and draw some plausible conclusions as they relate to using Zip Time Clock.

Firstly, employment growth is up 18% compared to this time last year. Over 470,000 net new jobs have been added so far this year, which is on pace to exceed the previous year’s growth by a small margin*. Does your business reflect this growth trend?

Where is growth happening? 

Sectors showing the most growth are in Education, Health Services, Construction, Professional and Business Services, Manufacturing and Leisure and Hospitality. Of the above sectors, education, health, and office-using businesses are showing the slowest wage growth.

What could this mean for your business?

It is reported that consumer confidence is up from a time not matched since 2001**. In the US, consumer confidence is oftentimes a lagged indication of trading market prosperity. It is perhaps no coincidence then, that the DOW, NASDAQ, and S&P are up at an average of nearly 6.2% so far this year***.

What is the takeaway as a client of Zip Time Clock?

Business owners and managers are opportunists by nature and function. We see an opportunity for a service or product and create a new demand; or we tweak and fine-tune workplace behaviors to attain a desired outcome. Business environments also change and a correct course of action must be taken to maximize a successful outcome. Ideally, everything we do is planned and purposeful.

Managing your employees’ hours for optimal efficiency is no different. At a time when more people are entering the workforce and the need for high productivity is a must, wise choices must be made. Use Zip Time Clock to approve hours and stop wasting minutes.

In our next post we’ll examine some best Zip Time Clock practices and why we encourage you to adopt them into your daily workflow.

For a more in-depth look at the above trends visit the referenced links below.

References:

*Ryan, P. (2017, March 10). Employment Rate Data Trends. www.us.jll.com

**Weinstein, A. (2017, March 1). U.S. Consumer Confidence Rises to Highest Level Since 2001. https://www.bloomberg.com

***(2017, April 6) Markets. http://money.cnn.com/data/markets/

ziptime
ziptime

Leave a comment