In a somewhat peculiar move, the U.S. government is reportedly keen on gathering employment data from companies nationwide. This emerging trend raises a number of key considerations for all businesses and legal professionals seeking to respond appropriately.
Back in July 2023, the U.S. Bureau of Labor Statistics (BLS) release revealed that compensation costs for civilian workers had risen by 1.0 percent for the three-month period concluding in June 2023. Putting this into context, this followed a downturn in total U.S. retail sales, which in June 2023 were down 1.2 percent from June 2022, according to data the U.S. Census Bureau released in September.
While at the surface these two statistics might seem unrelated, the move from the government suggests a growing interest in understanding the nuances of employment, compensation and the cost of business operations nationwide.
With this new initiative coming to light, it is crucial for corporations and law firms to understand the implications and consider the most efficient and compliant way to respond to such data requests. Appropriate actions should address concerns ranging from data privacy and protection, to the larger implications of sharing this type of sensitive information with the government.
This unfolding situation is something all companies, especially those within the legal industry, should closely monitor. It represents an intersection of privacy, economic policy and labor rights – requiring a careful consideration and response from all involved parties.
For further details on this development and a comprehensive analysis of its implications, you can read the full report released by Ogletree, Deakins, Nash, Smoak & Stewart.