Dallas, Aug. 6, 2021 / PRNewswire / – ThinkWhy®, a Dallas-based SaaS company focused on developing a new generation of AI-powered labor market solutions, has opened its US, according to today’s announcement by the Bureau of Labor Statistics – Labor market rankings published that the US economy created 943,000 jobs in July. Top 3 US labor markets1. Dallas-Fort Worth-Arlington, TX2. Phoenix-Mesa-Scottsdale, AZ3. Austin-Round Rock, TX job openings remain at record high with more than 9.2 million open positions in the US. A record number of employees are being laid off in the United States due to the increasing complexity of hiring. “The US labor market is undergoing a major transformation, with several factors playing a role, including employee changes, the COVID-19 delta variant, rising wage demands and the delay in the promotion of candidates through the recruitment and recruitment departments Hiring process, ”says Jay Denton, chief analyst at ThinkWhy, developers of LaborIQ® talent intelligence software. “Despite these challenges, however, the labor market continues to seek to reclaim all jobs lost since the pandemic began and remains on the path to a full recovery by early 2023.” The market has made up significant ground and made up 16.7 million of the 22.4 million jobs lost recovered during the pandemic, but the recovery varied significantly by location and industry, which had a big impact on economic performance and opportunities. The proprietary LaborIQ index identifies and tracks 10 key performance indicators that measure and assess the economic health of all major subways in the U.S. These indicators or variables are present in every market and represent the main drivers of any market’s economic progress or decline Top 10 Best Performing US Labor Markets, According to the LaborIQ® Index: July 2021Dallas-Fort Worth-Arlington, TXPhoenix-Mesa-Scottsdale, AZAustin-Round Rock, TXRaleigh, NCDenver, Aurora-Lakewood, COBoise City, IDNashville-Davidson -Murlin .boro-Frank, TNAtlanta-Sandy Springs-Roswell, GAProvo-Orem, UTSalt Lake City, UT Eight of the 10 markets rank in the top 25 for net migration and represent the people moving to these areas in contrast to natural population growth. Often people move because of job opportunities, but family and retirement also play a role. Dallas, Phoenix and Austin currently rank in the top 3 in net migration and lead the overall performance rankings. Over the past decade, the influx of human capital to these areas has rebounded significantly, placing each subway in a stronger position than most other places Denton continues. Outstanding Performer in July: Denver-Aurora-Lakewood, COThe Greater Denver was the biggest riser in the past year according to the LaborIQ® Index. The subway ranks high in a variety of categories including population growth, wages, workforce education, annual job growth, total college graduates and net migration. It maintains its status as one of the best landing spots in the country for new hires. In addition to Denver, four other metros are making great macroeconomic progress. Despite the pandemic were People and businesses already in the Dall areas as-Fort Worth and Austin en route, and with additional talent availability, these subways have reclaimed jobs faster, ranking them 1st and 3rd, respectively, for overall performance. Similar factors have placed Phoenix 2nd and Raleigh 4th, with net migration and employment growth accelerating the recovery in these markets. Industry performance and recovery outlook July job numbers show that the service-based economy is recovering. Consumer demand and business investment have increased – signs of improved job prospects and employment – along with an increase in summer travel. This is good news for the leisure and hospitality sectors. Conversely, the manufacturing sector, along with trade, transport and supply companies, continue to suffer from material and labor shortages, coupled with rising raw material and fuel prices. LaborIQ expects pre-pandemic employment numbers to return unevenly in key sectors through 2025. To read the July National Labor Market Report, Market Rankings and Industry Outlook, click here. About LaborIQ by ThinkWhyLaborIQ is a SaaS solution for talent acquisition and talent acquisition. ThinkWhy’s LaborIQ reports, predicts, and advises on employment conditions and the impact on jobs, industries, and businesses in all US cities. Our machine learning and advanced data science deliver accurate compensation, talent offer forecasting, retention tools, and job market responses for more than 20,000 job titles. Visit www.ThinkWhy.com to learn more or to request a demo. Follow us on LinkedIn, Twitter, Instagram or Facebook. View original content to download multimedia: https://www.prnewswire.com/news-releases/denver-becomes-landing-spot-for-job-candidates-dallas-fort-worth-phoenix-and-austin-metros-rank -as-top-3-for-growth-as-us-adds-943-000-jobs-in-july-301350285.html SOURCE ThinkWhy
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