>>By the Numbers August 12, 2020

By the Numbers August 12, 2020

Heartbeats of the Economy Through the Lens of Talent Acquisition

As Observed by BountyJobs

The Numbers:

  • Hiring activity on many of our ATS partners’ platforms was reported at 90+% of pre-COVID-19 levels in July
  • 20% more agencies are engaging to fill open jobs
  • Winning candidate to recruiter’s inbox lead-time shrunk from 7 down to 6 days
  • The 30-day job fill rate for third-party recruiter sourced jobs is currently double than average
  • Highest number of jobs offered for remote work were in medical devices, healthcare services, pharmaceuticals and biotech fields
  • In addition to healthcare, biotech, medical devices; the aerospace & defense and financial services industries posted the most jobs in the past two months
  • Source: BountyJobs Marketplace

U.S. Job Growth Report for July

The Numbers:

  • ADP’s National Employment Report logged only 167,000 private sector jobs in July, a significant drop following May and June’s growth
  • Employment at medium-sized businesses fell by 25,000
  • Large business added 129,000 jobs
  • Small businesses added 63,000 jobs
  • Source: Staffing Industry Analyst

Majority of Small Businesses Are Attempting to Hire, Labor Market Remains Weak

The Numbers:

  • 51% small business owners reported plans to hire in July
  • 86% of those trying to hire reported few qualified applicants
  • 52% of construction firms are finding few or no qualified candidates
  • 25% of owners reported few qualified applicants for their open positions
  • Source: National Federation of Independent Business

A Read on July Manufacturing Sector Economic Activity

The Numbers:

  • July PMI® registered 54.2%, up 1.6 percentage points from the June reading of 52.6%
  • This figure indicates expansion in the overall economy for the 3rd consecutive month
  • Of the 18 manufacturing industries, 13 reported growth in July, 3 reported contraction
  • The Imports Index registered 53.1%, a 4.3-percentage point increase from the June reading of 48.8%
  • Source: Institute for Supply Management

IT Jobs Down 211,400 Over Year, But Sector ‘Significantly Better’ Than Overall Workforce

The Numbers:

  • IT employment is down 1.46% month over month, and down by 3.95% year over year
  • However, engineering rose by 1.73% month over month according to TechServe Alliance
  • Source: Staffing Industry Analyst

Cybersecurity Professionals in High Demand Amid Pandemic

The Numbers:

  • 508,000 job openings advertised between May and June 2020
  • This would mean a 55% increase in total cybersecurity jobs
  • Top states seeking cybersecurity experts: California, Virginia, Texas, New York, Florida & North Carolina
  • On average, cyber security roles take 21% longer to fill than IT roles
  • Top 3 industries seeking cybersecurity experts: professional services, finance and manufacturing
  • Source: CyberSeek

Most Organizations Plan to Transition to Remote Work, a New Era for Hiring & Retaining Talent (Survey report)

The Numbers:

  • 64% of organizations believe that hiring regardless of location will foster innovation & creativity
  • 82% plan to offer more work flexibility or transition to fully remote work environments (65%)
  • 48% of respondents agree that the financial barriers to entry in Silicon Valley mean the best talent is no longer there
  • 64% of respondents believe that enabling companies to recruit talent regardless of location will drive greater creativity and innovation
  • Source: Remote

Technologists Say They Will Seek Out Remote Work Going Forward. The Reason? Increased Productivity.

The Numbers:

  • 53% say they are more productive
  • 43% say they devote more time to work
  • 40% state there’s more time for in-depth thinking
  • 34% believe there’s more time for creative thinking
  • 30% say there’s more time for backlog projects
  • Source: Dice via Staffing Industry Analyst

 

By |2020-08-12T06:28:37+00:00August 12th, 2020|Categories: Uncategorized|Comments Off on By the Numbers August 12, 2020

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