The ACTUAL Status of Hiring Today Hey everyone - how’s hiring going for ya? 🤪 Some might think that with an unemployment rate of 6%, compared to the pre-pandemic unemployment rate of 3.5% (February 2020), hiring would be easy like Sunday morning. Much easier to hire now than back then, right? Wrong. Open Roles Are Movin' On Up Many of the hiring challenges plaguing those in talent acquisition still apply in 2021, only with additional obstacles to clear. HOWEVER, we’ll be the first to point out that, hey, things are looking up, everyone! 📈 In fact, we have just published a special edition of our annual report, "The Definitive Collection (At This Moment) of Industry Trends in Critical Hiring". Download your copy here.  Per recent research, 82% of employers plan to hire in 2021 with 35% planning on hiring for net new jobs. We are wheels up! ✈️ This Data Speaks Volumes Thousands of jobs [...]

BountyJobs Bites June Unemployment at a Shaky 11.1 Percent The Numbers: 8 million jobs were added to the U.S. economy in June The unemployment rate decreased to 11.1% in June from 13.3% in May However, the misclassification error still continues – the unemployment rate would be 12.3% in June without the error Unemployment claims for the week ended June 27 totaled 1.4 million, more than analyst expectations Source: U.S. Bureau of Labor Statistics Construction and Other Industries See Hiring Rebound The Numbers: Hiring in construction was up 77% compared to May Growth of at least 75% was seen in industries such as legal, hardware and networking, manufacturing, public safety, public administration and education Hiring in June was down 39.6% in June from last year Source: LinkedIn Hiring Report Pay Cuts on the Rise The Numbers: About four million workers (mostly white-collar jobs) have experienced a pay cut during the pandemic This could signal a long-term [...]

BountyJobs Bites CEO Economic Confidence Decreases The Numbers: CEOs of small to midsize businesses have less confidence in the economy than 2008 recession levels 80% reported ‘some level of revenue decline’ 41% said they plan to maintain staffing levels Source: Vistage Financial Services Professionals Experiencing Job Security The Numbers: In spite of a negative economic outlook, financial services professionals are confident in their job security 57% have confidence in keeping their jobs over the next six months 62% forecast a worsening economy over the next year Source: Phaidon International Group Healthcare Recruiters See More Activity The Numbers: The healthcare job market may be leveling off due to an increase in recruiting activity along with less position closures 43% of employers are recruiting or have increased recruiting activities in May from April 56% of employers that perform elective procedures have had at least half or more of their volumes return Source: The Medicus Firm BountyJobs Reports: [...]

BountyJobs Bites: AI Job Post Growth Slows The Numbers: AI job posts in the U.S. slowed their growth by 10% AI and ML (machine learning) job posts grew 14% between January 6 and March 15 year over year Following March 15 growth decreased to just 4.6% year over year Source: LinkedIn Demand for Pharma Jobs Increases The Numbers: Demand is up for customer service, engineering, finance, pharmaceutical research and development (R&D), sales and software development roles Source: Randstad Sourceright Employment in Canada Potentially Heading Toward Rebound The Numbers: Employment in Canada increased by 208,400 jobs in May over April The number of jobs lost in April was revised upward to 2.36 million Source: ADP Canada BountyJobs Reports: Key Strategic Shifts in Hiring and Leadership Within Talent Acquisition The economic landscape has severely impacted talent acquisition, so we created this piece to help employers create a plan to thrive. From strategic partnering on business objectives to [...]

BountyJobs Bites Small Business Employment Begins to Recover The Numbers: Employment in small business increased by .25% in May A year over year decrease was seen at 3.95% A 12-month growth in hourly earnings was reported due to a shift of the index’s employee mix toward jobs with higher pay rates Source: Paychex and HIS Markit IT Hiring Increased in May The Numbers: 28,000 technology workers were added across all sectors in May as stay-at-home orders eased In March, national tech employment lost 19,000 jobs and saw a decline of 33,800 jobs in May – smaller than the 112,000 roles lost in April Source: U.S. Bureau of Labor Statistics Indeed Job Postings Down 34% Year-Over-Year The Numbers: Job postings on Indeed are down 34% On May 1, postings were down 40% year-over-year New job postings saw a 28% year-over-year decline, better than the 45% recorded May 1 Source: Indeed BountyJobs Reports: Key Strategic Shifts in [...]

BountyJobs Bites May Sees Largest Jobs Increase Ever The Numbers: Nonfarm payrolls rose by 2.5 million in May and the unemployment rate fell to 13.3% Forecasts had called for a decrease in 8.3 million and an unemployment rate of 19.5% Almost 50% of the job increases came from leisure and hospitality Source: U.S. Labor Department Confusion Abounds Around Skills Needed in this Market The Numbers: 57% of those that are recently unemployed are ‘unable to identify their transferable skills’ 58% are ‘unsure how to communicate transferable skills on their resume’ Source: LiveCareer Many Workers Concerned Their Skills are Obsolete The Numbers: More than 25% of workers say they worry they do not have the skills needed in this recovering economy A third have learned new skills to make sure ‘they had the skills to be employable’ Source: Prudential Financial Employee Confidence Around Retaining Jobs Grows The Numbers: 70% of workers in the last two weeks [...]

BountyJobs Bites Remote Work May Stick Around Post-COVID The Numbers: The percentage of employees working remotely will likely drop from the current 53% to 22% after the pandemic This is still more than three times higher than last year’s 7% Source: Willis Towers Watson Attrition Not Likely During Pandemic Depending on Employer Response The Numbers: 78% of employed U.S. adults (18+) stated they would not consider a job change during the pandemic 69% didn’t feel they would be able to find a new job during the pandemic 69% of those 44 and younger vs. 55% of those 45 and older would consider changing jobs during the coronavirus outbreak if they felt their current company was not doing enough to protect their employees. Source: Yoh BountyJobs Reports - A Talent Acquisition Peer Forum: Solving the Biggest Hurdles of the Next 30-60-90 Days The Numbers: This global pandemic is impacting some industries with massive hiring freezes while others [...]

BountyJobs Bites Gig Economy Going Strong The Numbers: Freelance jobs have seen a 21% year-over-year increase in job postings Skills in online content saw a surge, but now there is also a growing demand for programming skills, coding, web development, social media development/online marketing, etc Source: Freelancer.com U.S. Workers Have Lost Trillions Due to Job Losses and Pay Cuts The Numbers: $1.3 trillion in annualized income has been lost due to COVID-19 for U.S. workers This includes $260 billion in cuts for employees who still have jobs About one-fifth of metropolitan areas and even fewer smaller communities will recover employment levels seen before the pandemic by the end of the year Source: SHRM A Third of Workers Impacted by Pandemic Have a New Job The Numbers: One-third of workers who lost a job, income, or hours due to COVID-19 have now started a new job in that timeframe Latino Americans were the most likely group [...]

BountyJobs Bites Hourly Workers Deal with Unemployment Obstacles The Numbers: 45% of hourly and gig workers have already filed or plan to file for unemployment 47% are concerned about accessing unemployment benefits Hourly and gig workers are also worried more about finding work than the general population Source: Bluecrew Gen Z Workers Hit Hardest by COVID-19 Layoffs The Numbers: Gen Z as well as those that are new to the workforce have been impacted more by COVID-19 related lay-offs than other age groups Those that are 25 years old or younger have seen a 93% higher rate of layoffs than those that are 35 years old or older The tourism industry has seen the most layoffs with a higher percentage for workers between 16 and 19 years old at 33% Source: Gusto Graduates Expect Fast Recruiter Feedback The Numbers: Before stay at home orders were instituted, graduates expected to apply to around 10 jobs – [...]

BountyJobs Bites 3.17 Million New Jobless Claims The Numbers: 17 million Americans filed jobless claims in the week ending May 2 This adds to the 30 million people who have previously applied for unemployment benefits since COVID-19 significantly hit the U.S. in March Source: Department of Labor Majority of Employers Still Formulating Return-to-Work Plan The Numbers: 56% of employer are starting to work on their return-to-work plan 26% already have a return-to-work strategy 18% do not have a return-to-work strategy Source: Blank Rome Shift to Remote Work Expands Tech Talent Access The Numbers: Only 5% of tech workers are now less interested in a remote position 43% of professionals in tech are actively searching for new job opportunities due to the recession 68% of businesses are reporting active hiring Source: Hired’s State of Remote Work 2020 Internship Offers on the Decline The Numbers: Internship offerings are down, and those in travel and tourism were ‘severely’ [...]