BountyJobs Bites Job Openings Hit New Record High The Numbers:  August saw an 18.1% increase in job openings year over year as that number hit 7.1 million. There were about 6.2 million unemployed in August as well. The U.S. Bureau of Labor Statistics reported that the number of job openings in August not only hit a new record but outpaced the number of unemployed in the same month by 902,000. Growth in Number of Needed RNs to Jump 28% The Numbers: Per research from RegisteredNursing.org, the number of registered nurses needed in the U.S. is to soar by 28.4% (3.6 million) by the year 2030. Most states seem set to keep up with demand, however, California has the largest deficit of an estimated 44,500. Canada Adding Tech Jobs The Numbers: Employment for tech roles in Canada increased by nearly 45k jobs in 2017 – an estimated 1.2 million workers, per the Cyberprovinces 2018 report from [...]

BountyJobs Bites Labor Market to Add 8 Million Jobs in Next 5 Years The Numbers: Between now and 2023, the labor market is expected to add more than 8 million jobs, per a CareerBuilder report.  However, only about 25% of those are thought to positively impact middle-wage earners ($14.18 to $23.59 per hour). High wage and low wage jobs are predicted to have the largest net job growth in the next six years (5.71% and 5.69% respectively). Middle-wage is only predicted to grow at 3.83%. Tight Talent Pool Has Recruiters Sourcing With Creative Strategies The Numbers: Almost 70% of business leaders agreed that the current talent pool is shrinking per a survey from Cielo Talent Acquisition. 54% of respondents stated they have more open positions now than ever before. CEOs Staying on the Job Longer But Are Still Primarily Male The Numbers: The average tenure of a CEO as of 2017 is 11 years, and [...]

BountyJobs Bites Unemployment Rate Plummets to a Near 49 Year Low The Numbers: September saw U.S. job growth slow considerably, most likely due to the impact of Hurricane Florence within the restaurant and retail industries. However, the unemployment rate fell to 3.7% - a near 49 year low. The monthly report from the Labor Department, released today, reported a consistent increase in wages which could signal moderate inflation pressures resulting in gradual interest rate increases from the Federal Reserve. Gig Work Brings In $864 Billion in Revenue in U.S. The Numbers: Workers in the gig economy made up 31% of all U.S. workers in 2017 (about 48 million workers) per Staffing Industry Analysts. That’s an increase from 29% based on 2015 data. As well, $864 billion in U.S. revenue was due to contingent work, which is an increase in growth of 8.8% from 2015. Minneapolis Has Lowest Employment Rate Among Large U.S. Metros in August The [...]

BountyJobs Bites Negative Company Ratings Have Big Impact on Applicant Volume The Numbers: A survey from Monster found that 38% of respondents would only apply to companies that had at least a 3-star rating out of a 5-star rating system. Almost one-third would ‘never apply’ to an employer that had negative employee reviews. Salaries Projected to Rise in 2019 but Bonuses to Decrease The Numbers: Salaries are to rise 3.1% in 2019, which is the highest increase seen since the recession in 2008. However, bonuses and other incentive pay is forecasted to decline after seeing consistent increases between 2010 and 2015. CEO Outlook Survey Reports Higher GDP Estimate and Decline in Hires The Numbers: The 2018 U.S. GDP growth is now estimated at 2.8%, up slightly from the previous estimate of 2.7% from Q2, per the CEO outlook from the Business Roundtable’s third-quarter 2018 CEO Economic Outlook Survey. Plans for hiring decreased in Q3 but [...]

Q&A with Greenhouse VP of Platform and Partnerships, Dane Hurtubise We recently announced our partnership and joint product integration with the fastest-growing talent acquisition suite, Greenhouse. This integration extends current Greenhouse customers' recruiting reach with the power of the BountyJobs Recruitment Marketplace inside their existing Greenhouse Account. Ahead of the launch, we sat down with Dane Hurtubise the VP of Platform and Partnerships at Greenhouse to get his take on the partnership and the role of technology in talent acquisition. Let's Get to Our Discussion BountyJobs: The world of recruiting is quickly evolving, and technology is an essential part of that evolution. How does Greenhouse keep up with the demand from talent acquisition teams for comprehensive technology solutions? Hurtubise: Greenhouse tackles this demand in two ways. We make it easy for other software providers to connect their applications to Greenhouse through our free, open APIs. In addition, we have expanded our core offering into a [...]

BountyJobs Bites Office Perks as Important as Health Benefits? The Numbers: 68% of employee respondents feel that ‘work perks’ are as valuable as health coverage, life insurance, etc. Per a survey from Zenefits, small businesses are having a hard time competing with large companies who have the resources to offer these perks. CHRO Salaries Rising in Certain Industries The Numbers: Per the Crowe 2018 Bank Compensation and Benefits Survey, median salaries for CHROs in the banking industry increased by 7% while retail banking officers’ median pay decreased by more than 7%. Boeing Bringing Retirees Back On The Numbers: As of August 15, Boeing started hiring retired mechanics and inspectors under an agreement with the International Association of Machinists and Aerospace Workers. Production snags were caused in part by engine and fuselage shortages for 737s. CLOSING SOON!! HARD TO HIRE: THIRD-PARTY RECRUITING AND THE STATE OF TALENT ACQUISITION SURVEY – BOUNTYJOBS REPORTS Our annual survey is [...]

BountyJobs Bites Hiring Expands Across Industries The Numbers: The August LinkedIn Workforce Report finds that hiring continues to expand across the U.S. The biggest gains were seen in agriculture (19.9% increase), transportation & logistics (13% increase), and energy & mining (10.9 increase).  Houston saw a rebound from last year 20.3%, showing growth after Hurricane Harvey. Retail is still alive contrary to reports, with New York, San Francisco, and Seattle experiencing shortages. Best Q4 Hiring Outlook in a Decade The Numbers: Per a ManpowerGroup Employment Outlook Survey, employers are looking to hire more workers in Q4. The net employment outlook is +19%, which is the strongest in a decade. All 13 industry sectors reported optimistic hiring plans with the largest being leisure and hospitality at +20%, marking the largest for 28 quarters straight. More Gig Leaders Being Hired Than Before The Numbers: 60% of HR professionals have said they are hiring more contingent workers than they [...]

BountyJobs Bites IT Job Growth 8 Times Faster The Numbers: Employment and wage gain slowdowns seen in other industries doesn’t seem to be impacting IT roles. IT jobs are growing eight times faster than all other jobs per a study from MIT. Big data, computer software, and cybersecurity in particular are in-demand. Between 2004 and 2017, IT occupations have grown 19.5% - less IT-intensive occupations grew only 2.4% within the same timeframe. Construction Growth Further Impacted by Skills Gap The Numbers: 80% of construction firms report a challenge in finding skilled workers especially for hourly craft positions, per a report from the Associated General Contractors of America and Autodesk. Delays and higher projects costs are caused by the talent shortages as businesses attempt to keep full headcount…or reach it at all.  More than 75% of tracked metro areas have the same problem. "Technology can help bridge [the skills gap], and more firms are bringing training [...]

BountyJobs Bites Majority of Recruiters Find Their Job More Difficult Now The Numbers: 62% of recruiters feel their job is harder today than a year ago, and 67% stated their job is more difficult than it was five years ago per a survey from Monster Worldwide.  As well, 59% of respondents believe it’s been more challenging to get quality candidates than it was a year ago, and 62% feel the same even when comparing to five years ago. Skilled labor shortage (59%) and competition from other recruiters (52%) were cited as potential reasons. Layoffs More Common from Underpaid CEOs The Numbers: CEOs that are underpaid are four times more likely to lay off staff, no matter the size of the company or industry conditions, per research from ScienceDaily. Almost 50% of Workers Don’t Have a Career Path The Numbers:  About 47% of U.S. workers aged between 35 to 44 don’t have a career path in [...]

BountyJobs Bites Average U.S. Weekly Wage Increases in First Quarter The Numbers: Per the U.S. Bureau of Labor Statistics, the average U.S. weekly wage increased 3.7% year over year to $1,152 in the first quarter.  Peoria County in Illinois and Suffolk County in Massachusetts were the counties that posted the largest year-over-year percentage increases in average weekly wages (among the 349 largest counties in the U.S.) with gains of 23.8% and 12.1% respectively. U.S. Economic Growth Reportedly at ‘Solid Pace’ The Numbers:  The Conference Board’s US Leading Economic Index rose 0.6% in July to a reading of 110.7 (2016 = 100), following a 0.5% increase in June, and a 0.1% increase in May. “The US LEI increased in July, suggesting the US economy will continue expanding at a solid pace for the remainder of this year,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “The strengths among the components [...]