>>By the Numbers June 12, 2020

By the Numbers June 12, 2020

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Small Business Employment Begins to Recover

The Numbers:

  • Employment in small business increased by .25% in May
  • A year over year decrease was seen at 3.95%
  • A 12-month growth in hourly earnings was reported due to a shift of the index’s employee mix toward jobs with higher pay rates
  • Source: Paychex and HIS Markit

IT Hiring Increased in May

The Numbers:

  • 28,000 technology workers were added across all sectors in May as stay-at-home orders eased
  • In March, national tech employment lost 19,000 jobs and saw a decline of 33,800 jobs in May – smaller than the 112,000 roles lost in April
  • Source: U.S. Bureau of Labor Statistics

Indeed Job Postings Down 34% Year-Over-Year

The Numbers:

  • Job postings on Indeed are down 34%
  • On May 1, postings were down 40% year-over-year
  • New job postings saw a 28% year-over-year decline, better than the 45% recorded May 1
  • Source: Indeed

BountyJobs Reports: Key Strategic Shifts in Hiring and Leadership Within Talent Acquisition

The economic landscape has severely impacted talent acquisition, so we created this piece to help employers create a plan to thrive. From strategic partnering on business objectives to recruitment marketing strategy revisions, we dive into how employers can audit their current state of affairs, make changes to evolve as a more cohesive and competitive organization, and ultimately ramp up quickly.

The Numbers:

  • Strategic partnering on business objectives
  • Recruitment marketing strategy revisions
  • Ramping up, looking ahead

Q3 Hiring Outlook Hits 10-Year Low

The Numbers:

  • 11% of U.S. employers plan to decrease hiring in Q3 while 17% plan to increase
  • 62% of employers reported there would be no change to hiring in Q3
  • 60% of employers believe hiring will return to pre-pandemic levels before the end of 2020 and perhaps before the end of the summer
  • Source: Manpower Group

U.S. is Officially in Recession

The Numbers:

  • Due to the COVID-19 crisis, the United States economy is now officially in a recession
  • After peaking in February this year, the longest period of economic expansion in the U.S. since 1854 came to an end
  • Source: National Bureau of Economic Research

More Than 53% of Workplaces to Reopen Soon

The Numbers:

  • 53% of workplaces plan to reopen by July 15
  • Masks, social distancing, marked floors, additional barriers, and greater flexibility in remote work will be part of the ‘new normal’
  • Source: Society for Human Resource Management

U.S Hires, Job Openings Decrease in April, Seasonally Adjusted

The Numbers:

  • S. hires decreased by 1.6 million in April with the number of job openings falling by 965,000 due to the COVID-19 crisis
  • This data is seasonally adjusted
  • Openings are at their lowest rate since 2014
  • Source: U.S. Bureau of Labor Statistics

May Jobless Rate Contained Error

The Numbers:

  • The reported May jobless rate of 13.3% should likely be higher at about 16.3%
  • Workers that were not working during the survey period but were expected to return to their jobs (furloughed) were classified as employed rather than ‘employed but absent from work’
  • This error also impacted the prior report
  • Source: U.S. Bureau of Labor Statistics

Temporary Jobs See an Increase in May

The Numbers:

  • Temporary jobs in the U.S. saw an increase of 39,100 in May
  • This follows a steep decline in April, but are still down 29.2% year-over-year
  • Source: U.S. Bureau of Labor Statistics

Canada Adds More Jobs in May, Employment Still Down

The Numbers:

  • Employment in Canada increased by 289,600 in May to a total of 16.5 million
  • Employment is still down 13.5% year-over-year
  • Full-time jobs increased by 219,400, part-time jobs increased by 70,300
  • Source: Statistics Canada

Top Employment Trends Due to COVID-19

The Numbers:

  • Wider adoption of emerging jobs
  • Increased deep cleaning and ongoing sanitization services
  • Health monitors to check temperatures
  • Decontamination technicians for sterilization and quality checks
  • Reconfiguration specialists to modify facilities for social distancing
  • Increased number of temporary and part-time staff
  • Fewer people in the office
  • Source: TrueBlue Inc.

Overwhelming Majority of Workers More Productive at Home

The Numbers:

  • 76% of workers have found that their productivity has improved when working from home
  • 72% stated their teams have also had improved productivity because of working from home
  • Source: Best Practice Institute

Pandemic Impacted Black-Owned Businesses the Hardest

The Numbers:

  • Between February and April, the number of black small business owners decreased by 41%
  • Immigrant owners followed at 36%
  • Source: National Bureau of Economic Research

Grocery Manager Openings on Steep Incline

The Numbers:

  • Grocery manager, order selector, and warehouse manager saw the highest percentage growth among all job openings on Glassdoor between March 2 and May 11
  • Grocery manager openings increased 648% on Glassdoor during this timeframe
  • IT Specialists and public health advisors entered into the top 10 in-demand jobs list
  • Source: Glassdoor

COVID-19 Drives Contingent Work, Org Changes

The Numbers:

  • 32% of organizations are ‘replacing full-time employees with contingent workers as a cost-saving measure’
  • 16% are using technology more often to monitor productivity
  • Source: Gartner

U.S. Job Losses and Hiring are Stabilizing

The Numbers:

  • 5 million Americans filed new jobless claims for the week ended June 6
  • The total number of jobs lost during the pandemic is now more than 44 million
  • The number of people receiving unemployment benefits has decreased from 21.3 million to 20.9 million
  • Hiring is starting to pick up, but is still well below last year’s levels
  • Source: The Department of Labor
By |2020-06-11T19:37:49+00:00June 12th, 2020|Categories: Uncategorized|Comments Off on By the Numbers June 12, 2020

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.