September BLS Report: How a People-First Approach Can Transform Your Business

September BLS Report: How a People-First Approach Can Transform Your Business
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The U.S. Bureau of Labor Statistics released their September version of The Employment Situation, which showed a decline in the unemployment rate by 0.5 percentage points to 7.9%. This marks the second month in a row that we’re below the unemployment rate of the 2008 recession. 

Permanent layoffs are still occurring, and travel and entertainment companies are among the hardest hit. However, September did see 661,000 new jobs, primarily in the following industries:  leisure and hospitality, retail trade, health care and social assistance, and professional and business services.

While we’re seeing slow to moderate job growth, the survival of many businesses is dependent on further government aid. The government had originally said that talks around a new stimulus plan would be halted until after the election, they are now discussing potential stand-alone bills for aid to airlines, small businesses and individuals, but the release date is unknown. 

We are still living with a lot of uncertainty, and as we move into the colder months, focusing on your people operations can help your company prosper. Here are some ways to keep your company thriving with a people-first mentality. 

View Your Human Capital as Assets

Your team members are not only assets

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