What does US labor market recovery look like one year after the initial global pandemic outbreak?

The Randstad RiseSmart Labor Market Barometer aims to provide a comprehensive analysis of the US labor market a year after the start of the pandemic.

To determine the monthly barometer figure, RiseSmart uses a PCA-based statistical model. The ten labor macro indicators aggregated into the barometer include:

• Unemployment level

• Unemployment rate

• Initial claims four week moving average (4-WMA)

• American Staffing Association (ASA) staffing index

• Employment diffusion index

• Layoffs and discharges

• Institute of Supply Management (ISM) Index percentage reporting lower volumes in services

• ISM Index percentage reporting lower volumes in manufacturing

• Google searches (unemployment topic)

Download the full report to learn more about the labor market indicators included in the barometer, along with key drivers of recovery.