>>By the Numbers May 10, 2019

By the Numbers May 10, 2019

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Unemployment Falls to 3.6%, Lowest in 50 Years

The Numbers:

  • The unemployment rate decreased from 3.8% in March to 3.6% in April, which is the lowest rate on record since 1969
  • 263,000 nonfarm jobs were gained in April, a 67,000 increase in growth from March
  • Source: U.S. Bureau of Statistics

Stanley Black & Decker Opens Facility for Manufacturing Upskilling

The Numbers:

  • A new facility in Connecticut is opening for upskilling programs designed to prepare workers for the ‘digital-led manufacturing environment’
  • Tech advancements that improve collaboration between workers and machines will be explored, employing a team of 50 industry experts
  • Source: Stanley Black & Decker

Gen Z and Millennials Prefer Differing Recruiting Processes

The Numbers:

  • More than half of Gen Z prefer face-to-face communication rather than digital communication during the recruiting process
  • 29% of Millennials state that the recruiter experience has the biggest impact on their decision to accept a job or not, while half of Gen Z say the same
  • 46% of Gen Z applicants have applied for a job via a mobile device, while 38% of Millennials have
  • Source: Yello Recruiting

BountyJobs Reports: 2019 Third-Party Recruiting Benchmark Report

The Numbers:

  • Each year we analyze our wealth of data to give professionals in talent acquisition a tool to arm them with the most impactful analytics and insight to create strong overall recruiting strategies. In addition, this report serves as a foundation to create effective tactical actions such as crafting the most attractive offers to lure those passive candidates. 
  • 50% of the time, the winning candidate is sent to employers within one week of the job posted on BountyJobs
  • 1/3 of the recruiting process is sourcing the winning candidate, while 2/3 of the process is spent screening resumes, interviewing, etc… Time to tighten your recruiting process up!

Companies Looking to Raise Wages to Help Attract Talent

The Numbers:

  • Most companies have reported challenges in filling open roles in the past six months
  • About 50% are increasing pay to attract workers
  • 76% of manufacturing firms reported challenges in filling open roles in the past six months and 53.7% are increasing pay to attract workers
  • Source: Institute for Supply Management

Telemarketers and Virtual Assistants See Big Demand Increase

The Numbers:

  • Virtual assistant and telemarketer roles saw the biggest demand increases in Q1 2019
  • The 5 fastest-growing roles are:
    • Telemarketing: Demand for telemarketing jobs rose 32.8% to 1,960 jobs in the first quarter compared to the fourth quarter.
    • Virtual Assistant: Requests to fill these roles rose 30.9% to 6,241.
    • CodeIgniter: This is an open-source PHP framework built for developers and used to create dynamic websites. Demand for this skill rose 26.2% to 1,815.
    • Customer support: Demand for these workers rose 25.8% to 2,490 jobs.
    • Metatrader: This is an electronic platform that allows the trading of different products The number of jobs for skills in this platform rose 25.1% in the first quarter to 1,314 jobs.
  • Source: Freelancer.com

Job Openings See Largest Increase in a Year

The Numbers:

  • Job openings rose 4.8% in March over February, the largest increase in a year
  • The ‘transportation, warehousing, and utilities’ segment had the largest increase with 87,000 openings
  • Construction came in second with 73,000 openings
  • Source: U.S. Bureau of Labor Statistics

Flexible Schedules and Leaving Early on Fridays are Valued Summer Perks

The Numbers:

  • Best summer perks are flexible schedules and early departures from work on Fridays
  • 52% of employees favor flexible schedules
  • 27% of employees selected leaving early on Fridays as their favorite summer perk
  • Source: Accountemps

Employment Trends Index Moving Sideways

The Numbers:

  • As the labor market continues to tighten, the Conference Board’s Employment Trends Index is moving sideways
  • The index level in April increased to 110.79 from March (110.73)
  • The index is up overall 2.3% over the past 12 months
  • Source: Conference Board Employment Trends Index

Employers Look to Hire Almost 11% More College Grads

The Numbers:

  • 7% more college grads from the class of 2019 than that of 2018 will be hired per the plans of U.S. employers
  • This is a 16.6% increase than what was originally projected in the fall of 2018
  • Both fall 2018 and spring 2019 hiring forecasts for graduates are in the double-digits for the first time since 2011
  • Source: National Association of Colleges and Employers

More Than Half of 2018 Graduates Found Work Within a Year

The Numbers:

  • 55% of 2018 grads found work within one year of graduation
  • This trend is expected to increase for 2019 grads
  • 51% of graduates move away to find work, many look at larger markets such as New York or San Francisco
  • Source: LinkedIn

Job Openings to Unemployed Ratio Grows in U.S.

The Numbers:

  • For 13 consecutive months, the ratio of job openings per unemployed grew in the U.S. including recent figures for March
  • A historically high quit rate held at 2.3% for the 10th month in a row, showing the pace at which people quit their jobs is not slowing
  • Source: The Labor Department

Some Nurses Traveling Far and Wide for Better Pay

The Numbers:

  • 6% of nurses working for Tufts Medical Center in Boston travel out of state for work
  • As nursing wages are essentially flat while the cost of living continues to rise, nurses are looking to make more money where they can
  • These ‘super commuters’ earn about 20% more than traditional workers and commuters
  • Source: New American Community and U.S. Census Bureau
By |2019-07-08T19:07:56+00:00May 10th, 2019|Categories: Uncategorized|Comments Off on By the Numbers May 10, 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.