>>By the Numbers: March 29, 2019

By the Numbers: March 29, 2019

CPG Employers Plan a 10% Wage Increase

The Numbers:

  • Consumer packaged goods employers forecast an average wage increase of 10%
  • This data is from over 500 decision-makers surveyed within the beauty, wellness/personal care, alcohol, food and non-alcoholic drinks, and cannabis industries.
  • Source: ForceBrands

Economists Raise 2019 Job Growth Forecast

The Numbers:

  • Projections for the annual average level of nonfarm payroll employment now suggest job gains at a monthly rate of 191,800 in 2019 – an increase over the previous estimate of 181,900
  • Conversely, in 2020 the forecast of new jobs falls to 123,200 monthly
  • Source: Federal Reserve Bank of Philadelphia

U.S. Experiencing Widespread Talent Shortage

  • January 2019 had 7.9 million open roles with only 6.5 million workers looking for a job
  • This marked the 11th consecutive month of more open jobs than there are workers to fill them
  • Source: U.S. Department of Labor

Almost Half of Workers Quit Due to Higher Expectations

The Numbers:

  • 48% of workers left a job due to it not living up to their expectations
  • 59% cited job responsibilities differed from their expectations
  • 42% stated the working environment caused them to leave
  • Source: ThriveMap

Overwhelming Majority of Employers Have Taken Steps to Combat Talent Shortage

The Numbers:

  • 93% of employers are actively addressing the talent shortage
  • 45% of employers stated they have raised pay rates in order to attract and retain talent
  • 73% had strong outlooks for their businesses with the top priority being upgrading their employees’ technical skills
  • Source: SunTrust

Millennials are HR’s Biggest Challenge

The Numbers:

  • 48% of HR professionals report millennials as their largest non-desk work group
  • 32% state they are harder than Gen Z, Gen X, and baby boomers to engage
  • Source: Speakap

Employers Accepting Under-Qualified Candidates

The Numbers:

  • 78% of applicants said they would apply for jobs even without having the required experience
  • 84% of HR leaders stated they are willing to hire and train those without the necessary skills
  • Source: Robert Half

Labor Shortage Helps Blue-Collar Workers

The Numbers:

  • Workers most in-demand are those in-home healthcare, hotels, and restaurants
  • As more people pursue college degrees, that increases the workforce growing white-collar careers leaving these industries with many open roles
  • Source: Marketplace

Hiring High for Q2

The Numbers:

  • Hiring to continue to be strong in Q2, especially in industrial sector
  • 80% of employers plan to hire in Q2
  • 39% plan to hire general industrial labor
  • 33% plan to hire skilled industrial labor
  • Source: Express Employment Professionals

Curating a Stellar Candidate Experience is Worth Effort

The Numbers:

  • 70% of job seekers reported positive recruiting experiences including enjoyable conversations and salary transparency
  • Negative experiences included lack of respect for the candidates’ time, inaccurate job descriptions, and inadequate communication
  • Source: Indeed

Pay is Biggest Obstacle to Attracting Tech Talent

The Numbers:

  • 24% of IT decision-makers cite an ‘inability to present competitive compensation packages to candidates’
  • 22% reported speed to hire as an obstacle
  • 15% stated brand awareness was an issue
  • Source: Robert Half Technology
By |2019-03-29T15:59:26+00:00March 29th, 2019|Categories: Uncategorized|Comments Off on By the Numbers: March 29, 2019

About the Author:

Erin Geiger is a seasoned Content, Editorial, and Product Engagement professional with two decades of experience creating content as well as overall content direction and strategy. Her background stems from a variety of online verticals ranging from start-ups to Fortune 500 corporations.