Returning to the Workforce
Over the last few years, the labor crunch has affected my businesses and had a direct impact on many of our clients. Our retail clients need clerks. Our healthcare clients need nurses. Our financial clients need fresh faces and our non-profit clients need administrative support. Every client has a “help wanted” sign up. It has been my experience that in the last few years, there are more jobs available than people available to fill them.
My own experience compared to BLS labor participation rates and unemployment rates don’t really seem to align. The unemployment rate at the beginning of the Great Pandemic spiked at 14.8% and now hovers around 4%. The labor participation rate has dropped to 62%, meaning less than ⅔ of Americans over 16 work.
I have looked at countless resumes and job applications in the past 3 years. We used to get 10 applicants for every job post at the restaurants. In the past week, I have over 100 in the inbox. I combed through a stack of resumes the other day and volume has exploded in the past few months.
Whether I’m hiring an account manager for Madison+Main or a manager for Texas Inn, I see a huge trend….people are returning to the workforce.
I currently have five pre-screened resumes on my desk that made the cut. Three of them are currently employed and two of them have not worked since 2020. Out of 100 job applications for cooks and servers, almost ⅓ show an employment gap in the past few years.
Many, many folks left the workforce during COVID and there are many reasons for this. Some decided to stay home with the kids or a relative who needed care. Others retired early or found different pursuits. I spoke to one job seeker who decided to travel around the US for 2 years…. #luckyducky. Regardless, I have seen a dramatic increase recently in people returning to the workforce. And that’s good for us. It’s good for them. And it’s a good sign for the economy.
I wonder if the new job stats will reflect this next month. Bookmark this website and see what you think.
How about you and your industry? Have you seen more people returning to the workforce? As always, I love your emails and feedback.
MONDAY:
NEW ADS FOR LUCY CORR
Creating beautiful work is easy when you have amazing clients, like Lucy Corr! Lucy Corr is a not-for-profit continuing care facility that features beautiful, low-maintenance apartment and cottage homes with an abundance of amenities, services, and activities. Be on the lookout for their new ads!
TUESDAY:
PRESENTATION PREP DAY
The team prepped for their discovery presentation with Alliance for Virginia Energy Sense. The creative team collaborated with Account Director, Allison Nida, and Account Executive, Brandon Segres, to ensure a smooth presentation for the next day (which they nailed). Way to go, team!
WEDNESDAY:
MAKE-A-WISH!
You might’ve heard a familiar voice if you called into WRIC TV 8 on Wednesday! Founder and Chief-Idea-Officer, Dave Saunders, spent his morning giving back to the community, managing the lines for the Make-A-Wish Foundation. It means the world to have a leader who cares so much about strengthening our community and making a real difference. Thanks for all you do, Dave!
THURSDAY:
CEASEFIRE VIRGINIA: REAL STORIES
Reducing gun violence is a mission we can all get behind, and it starts with a conversation at home. Click the image to hear more about our interviewee Robert’s story, learn how to help break the cycle of gun violence and other dangerous crimes, and find community resources when you visit ceasefirevirginia.org.
FRIDAY:
NEW HIRE GOES HIGHER!
Vice President, Leanne Pillow, has had a new apprentice following her around (the outside) of her WFH office and has embodied M+M values of fearless creativity, clear communication, intentional approach, and respectful candor. How could we not onboard her?? Everyone, meet Helen the Hawk! Welcome to the Madison+Main-iac crew!
A FEW OF OUR FAVORITE EVENTS
Richmond Water Lantern Festival
Dorey Park – 2999 Darbytown Rd
Saturday, Aug 17, 2024 | 5:00 p.m. to 9:00 p.m.
The Richmond Water Lantern Festival is bringing people together for a celebration of light and community! This unforgettable evening will be filled with tasty food trucks, fun music, activities, and thousands of lanterns lighting up the night with love, hope, and happiness.
“Individual commitment to a group effort—that is what makes a team work, a company work, a society work, a civilization work.” – Vince Lombardi, American Football Coach, NFL Executive