Hiring Expands Across Industries
The Numbers: The August LinkedIn Workforce Report finds that hiring continues to expand across the U.S. The biggest gains were seen in agriculture (19.9% increase), transportation & logistics (13% increase), and energy & mining (10.9 increase). Houston saw a rebound from last year 20.3%, showing growth after Hurricane Harvey. Retail is still alive contrary to reports, with New York, San Francisco, and Seattle experiencing shortages.
Best Q4 Hiring Outlook in a Decade
The Numbers: Per a ManpowerGroup Employment Outlook Survey, employers are looking to hire more workers in Q4. The net employment outlook is +19%, which is the strongest in a decade. All 13 industry sectors reported optimistic hiring plans with the largest being leisure and hospitality at +20%, marking the largest for 28 quarters straight.
More Gig Leaders Being Hired Than Before
The Numbers: 60% of HR professionals have said they are hiring more contingent workers than they did three years ago, and 42% expect that they will hire more in the future per a Korn Ferry survey. Respondents find that gig workers save them money and are easier to manage.
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SMB Wages & Jobs Growth Decrease
The Numbers: In August, jobs and wage growth for U.S. small businesses fell as weekly work hours increased, per a data analysis from HIS Markit and Paychex. The small business jobs index fell to 99.22 which is the lowest monthly score since December 2010.
Temp Jobs and Overall Employment Up
The Numbers: U.S. temporary help services jobs rose by 2.9% in August on a year-over-year basis, according to seasonally adjusted numbers released today by the US Bureau of Labor Statistics. Compared to July, the number of US temp jobs rose by 10,000. And in a revision to the previous month, temp jobs rose by 10,900 in July instead of the previously reported gain of 27,900. The temp penetration rate — temporary jobs as a percent of total employment — was 2.04% in August, unchanged from July.
Viewpoints of Technology Differ Between Generations but Career Aspirations the Same
The Numbers: The report, ‘Managing the Multigenerational Workforce’ found that career aspirations were the same regardless of age: 65% surveyed wanted to achieve financial security, 51% want to do work that they feel passionate about, and 49% would like to achieve a work/life balance.
Canada Faces Jobs Loss After Two Months of Increases
The Numbers: Following two months of increases, the number of jobs in Canada fell by 51,600 in August when compared to July for a total of 18.6 million jobs, according to seasonally adjusted numbers released today by Statistics Canada. The unemployment rate rose to 6.0% from 5.8% in July.
The job losses came in part-time employment, where the number of jobs fell by 92,000. That was partially offset a gain of 40,400 full-time jobs in August. A majority of the job losses also happened in the public sector, which lost 38,000 jobs. The number of private sector employees and self-employed workers was little changed.
Smallest Gain in Jobs for Private Sector in Almost a Year
The Numbers: US private-sector employment rose by 163,000 jobs in August from July, the lowest gain since October 2017, according to the ADP National Employment Report. The total of jobs added in July was also revised down to 217,000 from 218,000; however, it remained the strongest hiring since February. “Although we saw a small slowdown in job growth the market remains incredibly dynamic,” said Ahu Yildirmaz, VP and co-head of the ADP Research Institute. “Midsized businesses continue to be the engine of growth, adding nearly 70% of all jobs this month, and remain resilient in the current economic climate.”
Words of Affirmation Are Top Worker Reward
The Numbers: A new study, ‘Motivating by Appreciation Inventory’ found that over one-third of remote workers and about 50% of the general employee population value being rewarded with written or oral words of affirmation.
94% of U.S. and U.K. Workers Dealing with High Stress from Work
The Numbers: The overwhelming majority of U.S. and U.K. worker respondents to ‘The Stress Epidemic: Employees are Looking for a Way Out’, say they suffer from work-related stress. At least a third say have experienced ‘high’ or ‘unsustainably high’ stress.
Automation Impacts Rural Job Surge
The Numbers: Employment growth rates in smaller communities in the U.S. have outpaced the national rate, even though the majority of job growth still happens within large metro areas. Mining and logging industries are two that have impacted this growth.
Gen Z List of Dream Jobs
The Numbers: Tech careers that have job security are top job choices for Gen Z. A report from Indeed found that about half of the career preferences of Gen Z are tech jobs including iOS developer, computer vision engineer, machine learning engineer, etc.
Tech Sector Jobs Growth Slows
The Numbers: Employment momentum in the US tech sector stalled in August following its best hiring month of 2018, according to CompTIA’s analysis of the US Bureau of Labor Statistics’ monthly employment situation report released Friday. The nonprofit association found tech hiring in August was essentially flat as the sector shed 400 jobs; gains in tech services and software development were offset by declines in manufacturing and telecom.
Employment Trends Index Hits Six-Year High
The Numbers: The Conference Board’s US Employment Trends Index rose 6.9% year over year in August to a reading of 110.88, up from a downwardly revised reading of 109.58 in July. It was the largest increase in more than six years.
“The Employment Trends Index continues to accelerate, with this month’s year-over-year increase being the strongest since May 2012,” said Gad Levanon, chief economist, North America, at The Conference Board. “This supports our projections for strong economic growth in the coming year, suggesting that demand for labor is likely to remain strong. To meet this demand, employers must draw more people back into the labor force, especially in blue-collar occupations, where the labor market is increasingly tight.”
Workers More Productive at Home
The Numbers: 65% of those surveyed in a FlexJob survey stated they’d be more productive working from home than in the office. The top 3 reasons were fewer distractions at 75%, fewer interruptions from colleagues at 74%, less stress from commuting at 71%, and less office politics at 65%. A whopping 61% stated they have left or thought about leaving a job due to a lack of flexibility. 80% found that telecommuting full-time was the best situation, followed by flexible schedules at 71%.
Weekly Staffing Employment Highest Q2 Since 2000
The Numbers: “U.S. staffing companies employed an average of 3.2 million temporary and contract workers per week in the second quarter, according to data released today by the American Staffing Association. This is the highest number for any second quarter since 2000. Staffing employment rose 2.3% in the second quarter compared to the same period last year, marking the largest year-over-year growth for any quarter in three years.”
Chicago & South Florida Report Record Number of Open Roles
The Numbers: Chicago and South Florida markets have reported a record number of open roles in finance/accounting and IT heading into Q4. As well, overall hiring plans in the next year are on the rise, per a survey from Brilliant.
“Open positions in accounting and finance were reported by 48 percent in the Q4 2018 hiring survey, up from 37 percent in the prior two quarters and 38 percent recorded in the Q4 2017 hiring forecast,” said Richard Curtain, director of consumer surveys at the University of Michigan in Ann Arbor, Mich., who produced the survey for Brilliant.