FedEx Corp. is looking to hire 90,000 roles for the holiday season in addition to 500 professionals for STEM roles. They join UPS (hiring 100,000 roles) in the staffing ramp-up. Amazon has reported that they have had 1 million people applying for their jobs during its career day – they are hiring for 125,000 roles.
Total U.S. employment is forecasted to increase to 165.4 million jobs within the timeframe between 2020-2030, an increase of 11.9 jobs. The growth rate correlates to a lift of .7%, higher than recent projections.
50% of those planning to quit are looking for a higher-paying job and 43% want to get into entrepreneurship. While 15% are planning to quite by the end of the year, another 22% aren’t sure. IT, Business, and Finance were the industries most likely to see people quit their jobs.
Over 80% of tradespeople have high satisfaction in their choice of work. The labor shortage is still negatively impacting though, as 77% in the skilled trades see it as a worsening problem year over year.
The top challenge for 63.4% of small businesses is hiring the right talent. Around 61% also reported unfilled job openings. Some issues that are obstacles in hiring are:
Almost half (44%) of Gen Z are actively looking for new job opportunities while 35% of Millennials are doing the same. Gen X comes in at 27% and Baby Boomers at 11%.
When asked what they are looking for in order to remail loyal to their current companies, responses across generations were:
As the holiday season looms, Sam’s Club announced it’s raising the starting wage to $15 an hour starting September 25. Currently minimum wage for some roles was $11 but increasing the wage is thought to help combat the fierce competition for labor.
Over the next year, manufacturers plan on increasing wages and full-time employment by 3.5% and 3.8% respectively. When looking at quarterly surveys dating back to 1997, these increases are ones for the record books.
More than half (60%) of key decision makers say they are looking to reskill employees by the end of the year rather than hire externally. The thought is that leveraging current employees is a safer bet as they fit the culture, and it avoids the competitive hiring landscape.