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Q4 2022
Quarterly Market Report

The latest job market news and trends – all in one place. Highlights from the Q4
2022 Quarterly Market Report include:

 * The Employment Situation: The U.S. added 263,000 jobs in September, and the
   unemployment rate edged down to 3.5 percent.
 * Recession Tracker: The economy may not officially be in a recession, but it’s
   not looking good. The strongest parts of the economy, however, are
   concentrated in the labor market, including low unemployment and many
   unfilled jobs.
 * Jobless Claims Hit Five-Month Low: The number of first-time claims for
   unemployment benefits dropped considerably at the end of September,
   underscoring how employers are holding on tightly to workers as the labor
   market remains full of opportunities for job hunters.
 * The Economics Behind 'Quiet Quitting': Quiet quitting is a philosophy for
   doing the bare minimum at your job, and quiet quitters, or those who report
   being neither engaged nor "actively disengaged" at work, make up at least
   half of the U.S. workforce.




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“Market correction efforts have taken hold. The slowing of job adds and
increasing labor participation rate are both indicators of such. Hiring remains
strong, however, especially in the direct hire category for Vaco clients across
the country. Ultimately, the labor market is still very tight. The clients that
continue to have success in hiring are moving quickly on qualified candidates
and are offering flexibility in the workplace. We anticipate the same level of
demand for talent continuing, at the very least, throughout Q4.”

Sean Reichard | Managing Partner | Vaco, Jacksonville

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