Jobs Friday | June 2025
May Jobs Report
Happy Friday!
As we approach mid-year reviews, many are feeling the fatigue of the ongoing yo-yo effect surrounding economic indicators. Ahead of today’s jobs report, economists still forecasted healthy hiring for May. April’s JOLTS data showed a surprising increase in job openings, rising to 7.39 million, alongside an uptick in hires and a decrease in quits. However, the start-and-stop nature of tariff policies has made it difficult for some businesses to determine a clear hiring strategy.
This morning, the Bureau of Labor Statistics reported that May saw a net gain of 139,000 jobs, with the unemployment rate holding steady at 4.25%. The bulk of hiring continues in Healthcare, Leisure & Hospitality, and Social Assistance, while the federal workforce continues to decline. The general consensus remains: while hiring is no longer booming as it once was, the U.S. employment market is still fundamentally solid.
How many net new jobs are needed to keep the unemployment rate unchanged? Roughly 100,000. A month falling short of that threshold would likely show a rise in the unemployment rate.
Overall, hiring activity seems to remain consistent. At CSP, we continue to see strong engagement across Professional Services, Financial Services, Healthcare, Manufacturing, and Technology. While M&A activity in 2025 hasn’t been as robust as initially projected, it hasn't stalled entirely either. The small and middle market landscape appears to still be active.
One notable trend reemerging is boomerang hiring; the return of former employees. This trend was prevalent during the post-Great Resignation wave in 2022 when compensation was rising rapidly. Now, with a cooler employment market and fewer growth opportunities, both individuals and employers are getting back together. With companies being more selective in their hiring, they are turning to former employees with the “at least I know what I got” mentality.
What we're reading
Peak performer or workaholic? Why HR leaders need to watch out for hyper-productive employees via WorkLife
The 'Best and Final' Job Offer Usually Isn't Final. How You Can Negotiate via The Wall Street Journal
The CEO Pipeline Is Running Dry. Here's Why via Inc.
Bridging the Gap Between Public and Private
In a recent Baltimore Business Journal article, Managing Partner Johnny Black reminds employers not to overlook former federal workers: “Don’t think that just because somebody was a federal worker that they can’t learn or don’t have the skills you need.” His advice to job seekers: highlight your transferable skills and be candid about areas for growth.
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