The Sad Truth about Our “Record-Low” Unemployment Rate

Employment trends expert offers an enlightening viewpoint of our national employment rate 

Unemployment

When The White House released January’s jobs report, many people were excited to see that the unemployment rate was being touted as the lowest since May 1969. But employment trends expert Rob Wilson says that the numbers fail to tell the whole story.

“The official unemployment rate for January was 3.4 percent, but I would estimate that the unemployment rate is actually triple that,” says Wilson, President of Employco USA, an employment solutions firm with locations across the country.

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Employco Employee Benefits Program Overview

At Employco, we provide customized solutions to businesses across the entire country.

In this video, Jason Eisenhut (Vice President of Human Resources) gives us an overview of Employco’s benefits program. “Today’s employee marketplace is super competitive. The number one area is wages as they continue to rise, and the number two area is employee benefits. As you look across that landscape of employee benefits, what makes Employco different?”

For more information feel free to reach out to us directly, we’d love to be a resource for your business.

Podcast: Leadership w/Special Guest J.J. Cummings

On this month’s HR podcast Rob, Scott, and Jason are joined by retired Navy Captain J.J. Cummings (Leadership Consultant). J.J. shares a number of leadership insights from his experience as a Naval advisor for the film Top Gun: Maverick to being the Commanding Officer of the USS Gerald R. Ford – the largest ship in the Navy fleet.

They touch on how to approach different generations entering the workforce, the importance of onboarding and setting a positive tone from day one, explaining the “why”, the significance of LBWA (“Lead by Walking Around”), showing your employees you care, keeping an open door, making time, handwritten notes, employee engagement and feedback, anonymous surveys, implementing changes, and more!

“Don’t tell them you care. SHOW them you care.” -J.J. Cummings

Podcast: Leadership w/Special Guest J.J. Cummings

Contact us with any questions you may have, we’re here to help: hr@employco.com

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HR Newsletter: State Legislative Updates

HR Newsletter: State Legislative Updates

California – FAQs Explain New Requirement to Include Pay Scale in Job Postings: The California Labor Commissioner has issued guidance on the new law that requires all employers to provide the pay scale to an employee or applicant upon request and employers with 15 or more employees to include the pay scale in any job posting, effective Jan. 1, 2023. The guidance, as summarized in this Legal Update, is in numbers 27 through 34 of the Labor commissioner’s Equal Pay Law FAQs. Click here to read the California Legal Update.

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HR Newsletter: Union Membership Rates Decreased in 2022

HR Newsletter: Union Membership Rates Decreased in 2022

According to the U.S. Bureau of Labor Statics (BLS), the rate of labor union membership decreased from 10.3% in 2021 to 10.1% in 2022. The 2022 unionization rate is the lowest since the BLS started tracking comparable union data in 1983. Despite the decrease in the union membership rate, the number of wage and salary workers belonging to unions, at 14.3 million in 2022, increased by 273,000 from 2021. This is likely due to the increase in the total number of wage and salary workers in the United States, including those who didn’t join unions. The BLS’ release explained that the “disproportionately large increase in the number of total wage and salary employment compared with the increase in the number of union members led to a decrease in the union membership rate.”

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HR Newsletter: FTC Proposed Rule Banning Non-compete Agreements

HR Newsletter: FTC Proposed Rule Banning Non-compete Agreements

Recently, the Federal Trade Commission (FTC) announced a proposed rule that would prohibit employers from imposing or enforcing non-compete clauses on workers. The proposed rule will have a public comment window of 60 days after publication in the Federal Register.

  • The Rationale for the Proposed Rule – The FTC’s proposed rule is based on President Joe Biden’s 2021 Executive Order on Promoting Competition in the American Economy, which encouraged the FTC to exercise its statutory rule-making authority under the Federal Trade Commission Act to “curtail the unfair use of non-compete clauses and other clauses or agreements that may unfairly limit worker mobility.”

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HR Newsletter: Amazon Launches New Prescription Drug Service

HR Newsletter: Amazon Launches New Prescription Drug Service

On Jan. 24, Amazon announced a new Prime membership benefit from Amazon Pharmacy. RxPass will only be available as a subscription service for customers with Amazon Prime memberships. For $5 a month, people can fill as many prescriptions as they need from a list of roughly 50 generic medications. The fee would be out of pocket and in addition to an Amazon Prime membership fee. Amazon noted that Prime members could get discounts of up to 80% off generic drugs and 40% off brand-name medications at more than 60,000 pharmacies across the country. Medications that treat more than 80 common conditions—such as high blood pressure, anxiety, and acid reflux—are included in the subscription. Click here for a complete list of RxPass medications.

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HR Newsletter: 5 Small Business Tips for Preparing for a Recession

HR Newsletter: 5 Small Business Tips for Preparing for a Recession

There’s growing anxiety that the U.S. economy is heading into a recession. While a recession impacts organizations of all sizes, small businesses often have limited resources and face a unique set of challenges. As a result, small businesses often must make difficult financial decisions to avoid issues such as insolvency or bankruptcy when a recession hits. That’s why it’s critical for small businesses to now consider how best to prepare for a potential recession.

Tips to help prepare for and minimize the impact of a recession:

  1. Re-evaluate compensation strategies
  2. Prioritize employee retention
  3. Assess organizational talent
  4. Establish communication channels
  5. Automate internal processes

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