BountyJobs Bites U.S. Job Growth Slows The Numbers: S. Private payrolls increased by just 27,000 rather than the 173,000 forecasted This is the worst performance since March 2010 when the employment market lost 113,000 jobs Small businesses with less than 50 employees were the hardest hit, losing about 50,000 jobs Source: ADP and Moody’s Analytics Most CPAs Optimistic About U.S. Economy The Numbers: 57% of CPAs in leadership roles are optimistic about the U.S. economy over the next 12 months 74% said the same in Q2 2018 This is the third quarter in a row that optimism has been at a high level Source: Economic Outlook Survey Mobile Job Application Process is Complicated for Most The Numbers: Job seekers applying online complete 53% fewer applications These job seekers also take 80% longer to complete each application 58% of Glassdoor users look for jobs on their phone Source: Glassdoor BountyJobs Reports: Cognitive Dissonance Series, Wage Growth: The [...]

BountyJobs Bites Hourly Workers Value Work-Life Balance More Than Pay The Numbers: • 77% of hourly workers said they needed ‘work-life balance to feel satisfied on the job’ • Hourly workers make up 60% of the total labor force • Source: Shiftboard with Lux Insights 90% of Manufacturing Companies Struggle to Fill Jobs The Numbers: • Almost 90% of manufacturing companies cannot fill all open jobs • 98% of those companies are small businesses • Manufacturing businesses created 11.6% of the economic output from the U.S. • Source: SCORE Employers Think Workers Value Benefits Over Pay The Numbers: • A recent report found that employees are motivated most by money, in contrast to business leaders believing employees want benefits over higher paychecks • 41% of business leaders and 45% of workers agreed that a ‘company’s ability to navigate change hinges on its positive brand’ • Source: Washington State University BountyJobs Reports: Cognitive Dissonance Series, Wage Growth: [...]

BountyJobs Bites Millennials Dependent on Employers for Needed Skills The Numbers: 70% of millennials believe they are lacking in skills required for jobs, especially those for future roles Most millennials stated that employers are primarily responsible for training workers to meet these needs, however, Gen Zers thought that educators hold that responsibility. Source: Deloitte Almost Half of Gen Z Regret Accepting a Job Offer The Numbers: 40% of Gen Z workers said they regretted accepting a job offer More than half see themselves staying in their career at an organization long term More than a third who regretted accepting a job offer planned to quit within a year Source: Gartner One-Third of Candidates Back Out of Offers The Numbers: 28% of candidates say they have accepted a job offer but then changed their minds 44% stated they reneged due to getting a better job offer while 27% received an acceptable counteroffer from their current employer [...]

Special Edition: Close-Up on Our Third-Party Recruiting Benchmark Report For over a decade BountyJobs has been at the forefront of tackling America’s hardest-to-fill roles, building tech-forward solutions to help employers leverage third-party recruiting to find the best talent for their most business-critical positions. Our annual report serves as the primary go-to source of analytics for top talent acquisition professionals, supplying data covering top-performing industries and roles. Third-party search is often representative of the most challenging and hard-to-fill jobs in the employment market; as such, we look at not only recruiting performance but also agency compensation, salary ranges, and incentives to attract candidates. From SMB to Fortune 1000 organizations, these industry trends permeate every decision made regarding recruiting and hiring. In an increasingly challenging market, these toughest roles are the tip of the spear. Upon analyzing our database, we curate and share the most impactful analytics to help those in talent acquisition. In this ultra-competitive employment [...]

BountyJobs Bites 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 [...]

Job Creation Blows Past Expectations in April The Numbers: 263,000 non-farm payrolls were added in April, way beyond expectations of 190,000 Unemployment fell to 3.6%, the lowest level since December 1969, rather than staying at the March rate of 3.8% Source: Bureau of Labor Statistics Manufacturing & Transportation Take a Wage Hit The Numbers: ‘Real wages’ (adjusted for inflation) experienced negative growth to the tune of .8% over the year Wages may be up overall, but only a select group of jobs and cities enjoyed meaningful growth – tech hubs such as San Francisco, San Jose, and Seattle The Source: Q1 2019 PayScale Index Economists Forecast Slower Economic Growth as Hiring Slows The Numbers: While economic expansion is expected to continue over the next year, only 52% of panelists surveyed forecast growth in real gross domestic product to grow more than 2% This is down from 67% from respondents in a NABE survey in January [...]

BountyJobs Bites Half of Job Postings Focus on 39 Roles The Numbers: 49% of job postings in 2018 by S&P 100 companies focused on only 39 roles 51% encompassed 872 other roles “In the U.S., the 39 critical roles include software developers, marketing managers and computer system engineers/architects,” says Ashley Tatum, VP, Advisory, Gartner. Source: Gartner Cannabis Industry Spurs Colleges to Prep Students for New Careers The Numbers: University of Denver offers a business course where students pitch ideas for marijuana startups SUNY Morrisville will give undergrads the option to enroll in a new cannabis industry minor this fall Source: LinkedIn Some Retail is Booming, but Still a Concern The Numbers: Nail and beauty salons still hiring as most retail business moves online Job openings in the nail industry grew by 186% between 2017 and 2018 Salon and spa gigs grew by 150% within the same timeframe 78% of nail salon workers earn under $12.39 [...]

BountyJobs Bites Tech, Consumer Behavior Impact Major Q1 Job Cuts The Numbers: The highest quarterly losses in almost four years were seen in Q1 2019 Cuts were also up 10% over Q4 2018 Automotive had the most job cuts in March with almost 8,900, though retail had the most for the year at 46,061 cuts Source: Challenger, Gray & Christmas Workers Value Meaning but Few Employers Offer It The Numbers: 19% of respondents stated they were prepared to be leaders that would bring meaning back to work 90% of respondents stated that ‘reinventing the way people learn is important or very important’ Source: Deloitte CEO Turnover Increased 22% Year-Over-Year The Numbers: CEO turnover in U.S. companies increased by 22% in Q1 2019 over that of Q1 2018 135 CEO changes were reported in March, an 8.9% increase over February’s 124 Source: Challenger, Gray & Christmas BountyJobs Reports: 2019 Third-Party Recruiting Benchmark Report The Numbers: Each [...]

BountyJobs Bites Recruiting Timelines Differ for Job Hunters and Recruiters  The Numbers: 45% of those looking for a job found that less than a week was the shortest amount of time they’ve experienced between submitting an application and accepting a job 54% of recruiters surveyed stated that applicants should expect hiring to happen within a month or less 40% of recruiters say candidates should expect a response within 48 hours of an interview, however, 40% of candidates will wait a week for a response before losing interest in that job Source: Addison Group Recruitment is More Challenging and Expensive Than Before The Numbers: More than 50% of HR leaders plan to update their talent acquisition strategies over the next two years due to the challenging market today 36% of respondents state that the increased amount of open hourly and salaried roles are taking longer to fill 73% of respondents have increased starting pay for salaried [...]

BountyJobs Bites March Jobs Report: Rebounds from February The Numbers: 196,000 jobs added in March (up from the estimated forecast of 170,000) February jobs number was adjusted from 20,000 to 33,000 U.S. unemployment remained the same as February at 3.8% Source: U.S. Department of Labor Hiring Slows for U.S. Businesses The Numbers: Uncertain economic prospects caused U.S. businesses to slow down hiring in March As well, private payrolls have increased the least in over a year 129,000 jobs were added in the U.S. in March This slowdown could cause unemployment to rise again Source: ADP/Moody’s Analytics Women Less Likely to Pursue High-Paying Jobs The Numbers: Salary confidence points to men being more self-confident in the workplace than women Men applied for jobs $13,635 higher than ones applied to by women, causing an 18.3% pay gap Source: Glassdoor Female Gen Z Programmers Value Professional Growth and Flexibility The Numbers: Career development and work-life balance are two [...]