Unemployment Falls to 3.6%, Lowest in 50 Years
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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.
- 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
- 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