What can workforce data tell us about the state of the US labor market, and how is AI changing employment trends?
In a recent webinar hosted by Haver Analytics, Revelio Labs CEO Ben Zweig joined Andrew Cates to discuss the latest labor market trends and how Revelio Public Labor Statistics (RPLS) provides a more detailed view of employment, hiring, and workforce dynamics.
With Revelio Public Labor Statistics now available through Haver Analytics, the conversation explored how alternative workforce data can complement traditional economic indicators and offer new insights into a changing labor market.
Watch the Webinar
The Labor Market, in High Resolution
Ben Zweig, CEO of Revelio Labs, and Andrew Cates, Haver Analytics
Key Takeaways from the Conversation
1. The US Labor Market Is Experiencing a Period of Low Hiring and Low Attrition
The US labor market has entered what Ben describes as a "low-hire, low-fire" economy. Both hiring and attrition have declined over the past four years, with rates now below 20%.
While employment continues to grow, reduced worker movement points to a labor market where companies are hiring less frequently and employees are staying in their roles longer.
2. AI Is Reshaping Employment and Hiring Trends
The discussion also examined how AI adoption is affecting workforce demand. Employment in the most AI-exposed occupations is approximately 6% below its expected level, while 6.4% of hiring firms have heavily adopted AI.
These findings offer an early look at how AI is influencing employment patterns and changing the skills and roles companies seek.
3. Alternative Workforce Data Provides Another Perspective on Employment
Built from more than 1.1 billion public employment profiles and 6 billion job postings, Revelio Public Labor Statistics provides monthly employment estimates derived from publicly available workforce records.
The series has demonstrated a 0.77 correlation with official Bureau of Labor Statistics employment figures, increasing to 0.95 when comparing three-month averages.
By standardizing and enriching workforce data, RPLS offers additional visibility into employment trends across companies, industries, occupations, and geographies.
4. Revelio Public Labor Statistics Is Expanding Globally
Looking ahead, Revelio Labs is working to expand RPLS internationally, bringing a consistent methodology and definition of employment to labor markets around the world.
This expansion will make it easier to compare workforce trends across countries and understand how global labor markets are evolving.
Access Revelio Public Labor Statistics Through Haver Analytics
Revelio Public Labor Statistics is now available through Haver Analytics, giving economists, researchers, and analysts another source for understanding employment trends alongside traditional labor market indicators.
Users can find the data in Haver's USECON database under Employment and Earnings and in its REGIONAL database.
For a closer look at the methodology, latest findings, and future of workforce measurement, watch the full conversation above.