UKG: Expect “Upside Surprise” in May Jobs Report

Ahead of Friday’s Employment Situation Report (monthly jobs report) published by the U.S. Bureau of Labor Statistics (BLS), UKG will discuss important and emerging trends from May 2023 shaping the labor market today (Tuesday, May 30) at 10 a.m., including:

• Surging gains in shift work¹ at U.S. businesses in May, with workforce activity jumping 1.0% to post the strongest month since late 2021;
• Strength across all industries, such as retail, foodservice, and hospitality (1.6%); services and distribution (1.2%); healthcare (1.8%); manufacturing (0.1%); and by size segment, including large and small businesses; and
• How seasonal industries — such as retail, foodservice, and hospitality — are getting a jumpstart on summer hiring, despite a tight labor market.

Register to attend the UKG live labor market briefing.

Dave Gilbertson, vice president and labor economist, UKG

“On the heels of a strong April, shift work in May experienced its biggest non-seasonal surge since late 2021. We’re seeing signs of strength and improvement across every key measurement. We have high confidence May will see an upside surprise in job creation that is not reflected in the current consensus predictions.”

The UKG Workforce Activity Report is a high-frequency index analyzing shift work trends across 4.2 million people at 35,000 U.S. businesses to understand the economy. Reports are published and briefings are held each Tuesday prior to the publication of the BLS Employment Situation Report. Upcoming schedule:

• June Workforce Activity Report: July 5, 2023
• July Workforce Activity Report: August 1, 2023