Potential Labor Market Narratives for 2022

The year 2022 is full of possibilities and potential. Whether you are a Recruiter, a Labor Market Economist, or a Workforce Planner, these are exciting times.

Nobel Prize-winning economist and Robert Shiller offered a new way to think about the economy and economic change. Using a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behavior—what he calls “narrative economics”—has the potential to improve our ability to predict vastly, prepare for, and lessen the damage of financial crises, recessions, depressions, and other major economic events.

Observing the labor market through narratives is a compelling way of planning the year. No one knows which narrative will emerge stronger, but we can look at the data and make a reasonable judgment. The one thing Draup believes in is bringing granular data and letting you do arrive at your conclusions. Again, these narratives are meant to trigger your thinking, and hopefully, you will find this useful