>>By the Numbers: April 19, 2019

By the Numbers: April 19, 2019

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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 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!

Graduates Go to Jobs in the Arts and Social Services over Finance

The Numbers:

  • More recent college graduates are flocking to jobs in the arts, media, and social services than they were four years ago
  • Graduates are less drawn to jobs in business and finance
  • Job in education, law, healthcare support, and library were also of interest
  • Source: Indeed

Healthcare Jobs Increase, But Wages Flat

The Numbers:

  • The Healthcare industry gained 49,000 jobs in March and almost 400K over the past year
  • Month-to-month growth for Healthcare is the second largest on record for the sector
  • Healthcare job growth has surpassed non-healthcare job growth and the share of total jobs is approaching an all-time high
  • Source: Altarum and the Bureau of Labor Statistics

IT Job Growth Decreases Again in March

The Numbers:

  • The number of IT jobs decreased to about 5.34 million jobs, showing a downturn for the third consecutive month in a row
  • Year-over-year, IT employment was up by only .16% in March
  • Source: TechServe Alliance

Jeff Bezos Challenges Retail Competitors to Match Amazon Hourly Minimum Wage

The Numbers:

  • Amazon CEO Jeff Bezos challenged his competitors to match his company’s recent increase to a minimum wage of $15 per hour
  • “Do it! Better yet, go to $16 and throw the gauntlet back at us,” Bezos wrote in his annual shareholder letter. “It’s a kind of competition that will benefit everyone.”

U.S. Physicians’ Salaries Are at An All-Time High

The Numbers:

  • Physicians’ salaries have climbed to an average of $313,000, an all-time high
  • Male physicians saw their salaries increase by $29,000 since 2017
  • Female physicians saw their salaries increase by $10,000
  • The pay gap between genders has increased to $51,000 or 25%…also an all-time high
  • Source: Medscape Survey and Axios

Trade School is Starting to Lure More Students than College

The Numbers:

  • Incentives are getting stronger to go to trade school over college
  • State technical colleges are spending millions in advertising campaigns to train workers in high-demand jobs such as commercial truck driving, electrical linemen, and diesel equipment technology
  • Some plumbers and electricians are earning more than $90,000 due to the growing talent shortage
  • Source: Bloomberg

U.S. Wages Subdued Due to Growing Gig Economy and Online Commerce

The Numbers:

  • Rising numbers of contingent and gig economy workers, as well as price competition from online commerce, could be partly to blame for subdued wage growth in the U.S.
  • All this despite historically low unemployment rate
  • Source: Federal Reserve Bank of Dallas and Oberlin College

Automation Requires Increased Recruiting

The Numbers:

  • 79% of survey respondents already use automation or plan to do so within the next three years
  • Almost 50% stated they are having challenges to adequately staff their IT function with skilled workers
  • As well, the ‘gap in advanced security skills is driving up investment in cyber automation’
  • Source: DomainTools

Tight Labor Market to Drive Up Wages

The Numbers:

  • March and early April saw employment continuing to increase across a variety of industries, most of which in high-skilled jobs
  • Manufacturing and construction, among other districts, cited a shortage of skilled talent
  • Many districts have started to offer bonuses and expanded benefits packages to attract and retain employees
  • Source: Beige Book

Retiring Baby Boomers Impact Construction Talent Shortage

The Numbers:

  • Those in the construction industry worry about a labor shortage when the many baby boomers that make up the industry retire
  • Some construction companies are using virtual reality simulators during job training to ‘entice those who grew up on video games’ in order to attract younger talent
  • Source: LinkedIn
By |2019-04-18T20:47:42+00:00April 19th, 2019|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: April 19, 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.