Q4 2023 Wage Reports

What’s inside the Wage Reports?

Comments from Matt Gorman, Chief Revenue Officer at Upshift, with 16 years of experience in the staffing industry, about current market trends:

• Employment Market Transition: Q4 2023 marked a notable deceleration in growth, reflecting a shift towards standardized employment trends post-pandemic.
• Wage Growth Persistence: Despite the slowdown, wage increases persisted, particularly in hourly work and contract labor.
• Talent Management Challenge: Hiring managers face the challenge of balancing talent attraction and retention amidst evolving macroeconomic conditions in 2024.
• Economic Forecast: Cautious optimism prevails for 2024, with expectations of a stable labor market alongside a deceleration in growth and inflation rates.
• Recruitment Strategy Adaptation: Flexibility in recruitment strategies, including leveraging gig and traditional employment opportunities, remains crucial for navigating the evolving landscape of the employment market.

Because Upshift is partnering with over 1600 businesses across the US, we are able to collect real-time, supporting data for workers in various industries and positions. These are real, verified rates being paid today to Upshift workers.