The U.S. Chamber of Commerce recently reported that between January and September 2023, the mining sector hired the fewest workers of any sector of the economy: https://lnkd.in/dA_9vbrU Why is this the case? ⛏️ The current workforce is continuing to age-out and retire ⛏️ The pool of candidates to replace retiring workers is shrinking We're increasingly hearing from our partners and customers that: 🗨️ The labor shortage is the most critical challenge the industry is facing 🗨️ It's getting worse while the transition to a carbon neutral economy is placing unprecedented demands on operators 🗨️ Autonomous technologies are going to be essential to meeting the world's demand for critical minerals going forward
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Should we be worried that the unemployment rate is slowly ticking up? Looking across data sources, that seems consistent with a labor market that's still healthy, but no longer overheated. This week, we also review the U.K. election outlook and the conundrum of mining activity.
Cross-Checking Employment Reports | Weekly Economic Commentary | Northern Trust
northerntrust.com
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According to the latest employment data released by the US Department of Labor, initial jobless claims for the week ending August 3 unexpectedly fell to 233,000, significantly below the market expectation of 240,000 and a substantial decrease from previous data. https://lnkd.in/d5SXSqPU . . . . #employmentdata #jobmarket #joblessclaims #economicnews #uslabor #markettrends #financialnews #economyupdate #labormarket #economicindicators #usjobs #employmenttrends #financialmarket #economicgrowth #marketinsights
Positive Signals from the US Job Market Suggest Stronger Tin Prices Ahead [SMM Tin Morning Meeting Summary]
news.metal.com
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Q1-2024 KS Employment Impact Analysis is out…. updates include: ✨ Employee & business insights ✨ KS business resources ✨ Staffing industry indicators
We're excited to finally share the major updates we've made to our quarterly Employment Impact Analysis for 2024. Updates like: ✨ Including all KS Counties ✨ The latest employee and business insights ✨ Kansas-specific business resources ✨ Staffing Industry Indicators Get your copy (free) of our most popular business resource now ⤵️ #kansas #kansasemployment #ksemploymentimpact #businessresources #ksemployers
Kansas Employment Impact Analysis: Q1 2024
the-arnold-group.com
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Last week’s JOLTS report offers new insights into the state of the broader US job market and ongoing trends in manufacturing and construction. While job openings and hiring remained steady overall, the hiring crunch for skilled labor in manufacturing and construction persists. This is a serious challenge but also an incredible opportunity. Based on our recent research, Erik Schaefer, Ezra Greenberg, and I anticipate that annual hiring for this crucial talent group will be 20x the annual increase in net new jobs and cost companies more than $5.3 billion in talent acquisition and training costs alone. To help employers reimagine how they invest in human capital, plug leaks in the talent pipeline, and boost productivity in the near term, we’ve identifed actions they can take—from the inside out and the outside in. Read our article to learn more: https://mck.co/4cSpp8k #Talent #Workforce #SkilledTrades
Tradespeople wanted: The need for critical trade skills in the US
mckinsey.com
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Employment Trend for the Month of May 2024 as reported in June 2024 A pretty decent employment number was turned in for last month. Economists were expecting job gains of 180k but the actual number was 272k. With this new data, the Fed will be hard pressed to lower interest rates as was originally expected at their next June 12th meeting. Higher employment points toward a hot economy (think inflation) which means that they will most likely reevaluate and leave rates unchanged or maybe even consider a bump?? Let's wait and see. As far as Mining & Metals land goes: Primary Metal Manufacturing and the Fabrication sectors both saw some softening to the tune of 400 and 1000 positions respectively. We here at SSM Recruiting have only heard of slowdowns on the service center side thus far. Food for thought; if the service center side is slowing down....that means their orders are slowing down. Does this mean there are hints of an overall economic slowdown to come? Until Next Month! -C
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This map/data from Labor IQ is interesting to me since I am identifying talent within the manufacturing, construction, and professional business sectors. Have you noticed any significant changes in quit rates within your industry and what do you do to retain talent?
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🇺🇸 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗨𝗦 𝗷𝗼𝗯 𝗴𝗿𝗼𝘄𝘁𝗵 𝗻𝗲𝗮𝗿𝗹𝘆 𝗵𝗮𝗹𝘃𝗲𝗱 𝗶𝗻 𝗔𝗽𝗿𝗶𝗹: 𝗨𝗽𝗱𝗮𝘁𝗲 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 The US added fewer jobs in April as the unemployment rate ticked up and average earnings growth slowed, signs of gradually weakening labor market conditions. A separate survey showed the services sector contracted last month. The US added 175,000 jobs in April, the Labor Department reported today, fewer than the 238,000 analysts anticipated. That compared with an upwardly revised 315,000 jobs in March and a downwardly revised 236,000 jobs in February. By Bob Willis: https://okt.to/aS2zt9 Argus provides price assessments for primary and secondary metal grades around the world along with analysis and commentary. Find out more: https://okt.to/SAVmy8 #ArgusMedia #unemployment #metals #oilproducts #naturalgas
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🇺🇸 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗨𝗦 𝗷𝗼𝗯 𝗴𝗿𝗼𝘄𝘁𝗵 𝗻𝗲𝗮𝗿𝗹𝘆 𝗵𝗮𝗹𝘃𝗲𝗱 𝗶𝗻 𝗔𝗽𝗿𝗶𝗹: 𝗨𝗽𝗱𝗮𝘁𝗲 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 The US added fewer jobs in April as the unemployment rate ticked up and average earnings growth slowed, signs of gradually weakening labor market conditions. A separate survey showed the services sector contracted last month. The US added 175,000 jobs in April, the Labor Department reported today, fewer than the 238,000 analysts anticipated. That compared with an upwardly revised 315,000 jobs in March and a downwardly revised 236,000 jobs in February. By Bob Willis: https://okt.to/GJLFhr Argus provides price assessments for primary and secondary metal grades around the world along with analysis and commentary. Find out more: https://okt.to/19Jovl #ArgusMedia #unemployment #metals #oilproducts #naturalgas
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🇺🇸 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗨𝗦 𝗷𝗼𝗯 𝗴𝗿𝗼𝘄𝘁𝗵 𝗻𝗲𝗮𝗿𝗹𝘆 𝗵𝗮𝗹𝘃𝗲𝗱 𝗶𝗻 𝗔𝗽𝗿𝗶𝗹: 𝗨𝗽𝗱𝗮𝘁𝗲 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 The US added fewer jobs in April as the unemployment rate ticked up and average earnings growth slowed, signs of gradually weakening labor market conditions. A separate survey showed the services sector contracted last month. The US added 175,000 jobs in April, the Labor Department reported today, fewer than the 238,000 analysts anticipated. That compared with an upwardly revised 315,000 jobs in March and a downwardly revised 236,000 jobs in February. By Bob Willis: https://okt.to/tDKlFv Argus provides price assessments for primary and secondary metal grades around the world along with analysis and commentary. Find out more: https://okt.to/vnx8L4 #ArgusMedia #unemployment #metals #oilproducts #naturalgas
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