The Effects of Low Unemployment Rates
Throughout the course of 2017, the United States has seen a low unemployment rate continue to fall lower and lower. While we are excited to see so many Americans enjoy the benefits of a growing economy, it also makes us realize how lucky we are to have so many amazing Team Members who are vital to our success.
Over the course of June 2017, the workforce added 222,000 non-farm jobs, which totaled 170,000 over the consensus estimate. It was the 81st consecutive month for job gains, dating back all the way to October 2009. Additionally, there were even more people seeking employment. Workers who were previously discouraged in their job search have been gaining confidence in the economy, motivating them to resume the job hunt.
Just up Interstate 55 from the home offices of 4M Building Solutions in St. Louis, unemployment in Springfield, Illinois, is at a scant 3.8%, which is even lower than the already low national unemployment rate of 4.5%. As the economy continues to improve, businesses are booming and simultaneously are searching for new hires to support their growing workload.
This is another reason why we find it so important to not only hire the most outstanding Team Members, but to also ensure that 4M is a place where they stay for the long term. Our highly valued Team Members stick around for years because they love working at a place we make everyone feel like part of a family.
We understand that our Team Members are a vital part of the world-class service that 4M provides, and a big reason why our clients appreciate us is that they know they can count on dedicated, hard-working Team Members producing great results day in and day out. The low unemployment rate means that there may be fewer qualified workers out there, but so many of those qualified workers already have careers at 4M. And we are working hard to make sure it stays that way.