SECTION 4 Workforce Trends Three longer-term shifts are shaping the talent market beyond this quarter. Each one points to the same conclusion: the employers who plan ahead for talent will spend less time and money competing for it. Participation is recovering slowly, if at all Labor force participation fell to 61.54% in April and had recovered only to 61.77% by June, still nearly a full point below 2023. More than 105 million adults are outside the labor force, so employers should not expect a wave of returning workers to ease hiring. The retirement cliff is getting closer More than 102 million Americans are 55 or older, about 30% of the population. Production and engineering are among the slowest-growing occupation groups in Lightcast's data, so fewer new workers are entering these fields while experienced workers leave. Knowledge transfer and apprenticeship pipelines are now an operational necessity, not just an HR initiative. Layoffs are selective, not broad Late August WARN filings included several manufacturing, packaging, and distribution employers, while production and maintenance roles remain among the most posted in the country. For employers who are hiring, workers displaced from nearby facilities are a short-term sourcing opportunity worth acting on quickly.