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.