What To Know About Current U.S. Workforce Data

by Revelio LabsMay 28, 2023

Workforce data can give you a detailed report about the employees in a company or industry. It provides current demographic information as well as details about their job. Revelio Labs provides comprehensive data on the US workforce to help you make well-informed business and investment decisions.

This data allows you to get a closer look at the strengths and weaknesses of your competitors or competing investment options. It not only shows you how to acquire the best talent, but it educates you on how to retain them. From an investing perspective, it gives you a sense of how a given company compares to others in their industry. This information can be helpful as you prepare to make investment decisions.

Companies and the Industries They Serve

Since the COVID-19 pandemic, companies have struggled to find employees for job openings. Though there are 9.9 million positions to be filled, there are only 5.8 million people who are currently unemployed. Employers added 4.5 million jobs during 2022, which was more than at any point in history. These factors have impacted the U.S. workforce in the last several years.

At Revelio Labs, our reports allow you to analyze the skills and retention strategies organizations use to fill positions. We also show you where you can capitalize on issues other companies are experiencing with a higher rate of turnover. From an investment perspective, workforce data may give you insights into which companies are moving up in their industry or making smart moves. By analyzing compensation rates, benefits, and other data within the industry, you can determine which investment opportunity is best for you. Investors can also closely monitor industry and occupational trends to identify sectors that are poised for growth.

Cities and States

Work shortages have varied widely by location since the pandemic. Certain areas are experiencing a severe shortage of workers, while other states have a higher labor force participation rate.

Data can have increased value when it is focused within a specific geographical area. With this focused data, companies can look at their closest competitors to see how they compare. At Revelio Labs, we break down several of our reports by geographic location to give you information that is relevant to a specific area of interest. You can compare salaries by region and view various skill and education levels. You can also see how companies hire based on demographic markers by state and learn about job postings and salary information within your region. These insights can also provide you with workable information to help you make investment decisions. You may consider data based on geographical location as you determine which geographical area to invest in.

Jobs and Skills

The US Bureau of Labor Statistics projects that jobs in healthcare will increase by over 24% through 2031, making it one of the best industries for a career. Food preparation and serving come in second with a 15% increase. Business and finance as well as technology continue to see expansion as well. At the other end of the spectrum are office and administrative jobs, which are expected to decline, along with sales and production.

With workforce data provided by Revelio Labs, you can contextualize these predictions with our detailed data points. We provide information to help you see the trends in job creation and the gaps in skills that you can use to your advantage. With workforce data, investors can determine which organizations are committed to closing the skills gap through training programs or partnerships with educational institutions. With this information, they may be better placed to align their portfolios with companies and sectors that are looking forward.

Technological Advancement

Rapid technological advancements and automation are transforming various industries and reshaping the workforce. Today many employees are opting to work from home and the use of new production technologies is becoming common. Even technologies such as artificial intelligence have been used by some companies in their production process in recent years. Investors should understand the impact of automation on job markets and which sectors are most susceptible to disruption. Workforce data can provide insights into industries that are embracing automation and those experiencing significant workforce shifts. By recognizing these trends, investors can make strategic investment decisions, such as supporting companies that are at the forefront of innovation or adapting their portfolios to withstand potential disruption.

Use Revelio Labs to Get Current Workforce Data

Revelio Labs uses the latest tools and resources to provide high-quality workforce data. We provide comprehensive data on jobs and skills, geography, and technological advancements. Our data can help organizations and investors make informed decisions.

We believe in leveraging the power of data to help organizations succeed. Our mission is to provide relevant data that fuels the growth of your company or investment portfolio. Request a consultation with Revelio Labs today to learn more about how we can help you make data-driven decisions.