November Job Openings = Big Decline
- Job openings in the U.S. fell by 561K in November
- This was the biggest drop since August 2015
- Source: U.S. Bureau of Labor Statistics
U.S. Economy Expands Yet Labor Markets Tight
- In the last six weeks of 2019, the U.S. economy expanded slightly
- However, labor markets remained tight enough to restrict growth in some areas
- Source: Federal Reserve Beige Book
Tech Sector Hiring Hits Lowest Point of 2019
- Tech sector hiring fell to the lowest point in December for all of 2019
- In December, only 3,500 tech jobs were added to the labor market
- Source: CompTIA
BountyJobs Reports – Year in Review: Talent Acquisition in 2019 and the 2020 Impact
- A whopping 43% of professionals plan to look for a new job over the next 12 months
- The majority of employers, 61%, planned to raise wages in 2019, which was up from 48% in 2018. What’s in store for 2020?
- Manufacturing saw consecutive increases in employment for over 18 straight months, the longest stretch since the mid-1990s. However, around 90% of manufacturing
companies couldn’t fill all of their open roles.
Upskilling Key, Say Media Execs
- Upwards of 1/3 of surveyed media execs globally found that ‘without reinvention, their company won’t exist in five years’
- 50% of execs say if they are ‘to succeed in this landscape, they can’t rely on traditional business models’
- Three approaches were identified: pursuing operation excellence and agility; rebooting innovation strategy and approach, and accelerating talent and skills development.
- 49% said the best way to address talent issues is to upskill their existing workforce
- Source: EY.com
Creativity is Most In-Demand Soft Skill
- Creativity landed in the top spot for the most in-demand soft skill for 2020, holding the same rank it had in 2019
- Per LinkedIn, “Organizations need people who can creatively approach problems and tasks across all business roles, from software engineering to HR. Persuasion, collaboration, adaptability and emotional intelligence rounded out the top five.
- Source: LinkedIn