Since the DOL proposed a new independent contractor rule in October, one of the most critical considerations before hiring a new member of the staff is classifying them correctly, however, there are other important factors.

"Skills gaps and scarcity will always be a challenge for most organizations, but equipped with the right insights and a well-crafted talent strategy, you can build a resilient and adaptive workforce for any contingency in the year ahead," the report says.

When people aren't looking for work, federal data treats them as no longer part of the workforce.

The cost-of-living crisis is having a major impact on employees (particularly women, Gen-Xers, boomers, and Hispanics), says new report. Employers need to educate them about mental health and financial wellness benefits.