---
title: Strong Employment Growth, Pre-Pandemic Unemployment Rate Forecasted
description: Macy’s gives workers a pay bump by raising their minimum wage to $15 an hour plus offering a debt-free education benefit. The increase is a tactic to attract workers in this hot employment climate. Corporate and hourly workers will also get to enjoy an extra flexible paid holiday so they can choose a holiday that means the most to them and ensure they have it off.   In 2021, the global economy grew by a strong 5.1%.  The forecast for 2022 is even rosier and expected to experience larger than forecasted growth. This is in contrast to the 3.3% global GDP decline in 2020, setting the global economy to get back to pre-pandemic levels by the end of next year.   The Employment Index also points to strong employment growth in the coming months with the U.S. unemployment rate reaching 3.5%, hitting the pre-pandemic low by the end of next year. However, it also forecasts […]
image: https://blog.bountyjobs.com/hubfs/Imported_Blog_Media/businesswomen-working-in-office-2021-11-09-00-01-27-utc.jpg
---

 1 min read

# Strong Employment Growth, Pre-Pandemic Unemployment Rate Forecasted

[ Erin Geiger ](https://blog.bountyjobs.com/author/erin-geiger) :  November 11, 2021

[Talent Acquisition Trends](https://blog.bountyjobs.com/tag/talent-acquisition-trends)

![Strong Employment Growth, Pre-Pandemic Unemployment Rate Forecasted](https://blog.bountyjobs.com/hubfs/Imported_Blog_Media/businesswomen-working-in-office-2021-11-09-00-01-27-utc.jpg)

[Macy’s](https://www.forbes.com/sites/jackkelly/2021/11/09/macys-is-offering-debt-free-tuition-higher-wages-and-flexibility-in-an-effort-to-attract-and-retain-workers/) gives workers a pay bump by raising their minimum wage to $15 an hour plus offering a debt-free education benefit. The increase is a tactic to attract workers in this hot employment climate. Corporate and hourly workers will also get to enjoy an extra flexible paid holiday so they can choose a holiday that means the most to them and ensure they have it off.

 

In 2021, the [global economy](https://www.conference-board.org/topics/global-economic-outlook/press/global-economic-outlook-2022) grew by a strong 5.1%.  The forecast for 2022 is even rosier and expected to experience larger than forecasted growth. This is in contrast to the 3.3% global GDP decline in 2020, setting the global economy to get back to pre-pandemic levels by the end of next year.

 

The [Employment Index](https://www.conference-board.org/data/eti.cfm) also points to strong employment growth in the coming months with the U.S. unemployment rate reaching 3.5%, hitting the pre-pandemic low by the end of next year. However, it also forecasts that labor shortages and rising wages will continue.

 

[IT employment](https://www.techservealliance.org/monthly-it-index/) continued to stay the same in October, rising just .4% over September, equaling about 5.4 million jobs.  Year-over-year, IT employment increased by almost 3.7%. These numbers indicate that the talent shortage is an obstacle for companies – but many are leveraging tactics to lure in workers amidst the stiff competition, including DE&I and pay initiatives.

 

I’ll give you one guess as to the most in-demand skill going on in hiring right now…time’s up! It’s cybersecurity! It had the most mentions as the most in-demand skill over the past year and 43% of respondents stated so in a recent [survey](https://www.harveynashgroup.com/dlr). Looking around the globe, the top three sought after skills are cybersecurity, big data/analytics, and technical architecture.

Until next week,

Erin and Team BountyJobs

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