>>By the Numbers: June 14, 2019

By the Numbers: June 14, 2019

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Tech Jobless Rate Edges Down

The Numbers:

  • A modest 5,800 jobs were added to the tech sector in May
  • The jobless rate within tech dropped to 1.3%, the lowest since January 2000
  • Source: U.S. Bureau of Labor

Job-Hopping Helped Majority of Millennials

The Numbers:

  • 75% of millennials feel that switching jobs a few times helped bolster their careers
  • 40% of millennials have had four or more jobs since graduating high school or college
  • 10% feel they are underemployed
  • Source: Akumina

Inefficiencies Abound for SMBs Looking to Hire

The Numbers:

  • SMBs have been too slow to hire, therefore resulting in missing out on quality candidates
  • 61% stated that hiring was either their top priority or one of their primary HR goals.
  • 47% said that time to hire was between 15 and 30 days on average
  • 20% said their hiring time averages were between 31 and 45 days
  • Source: BerniePortal Recruitment

BountyJobs Reports: Sourcing Hacks Straight from ERE Roundtable

The Numbers:

  • Top 5 sourcing hacks from leaders in talent acquisition
  • 86% of Millennials ‘feel positive about text messages being used during the interview process.’
  • Nine out of ten candidates would apply for a job for a company that actively maintains its brand.
  • Source: BountyJobs

Employers Paying Too Much?

The Numbers:

  • Average salary increases of about 15% are being offered to new employees by U.S. companies
  • A 10% salary increase, on average, is expected by employees when switching employers
  • 25% of employees in the U.S. were actively looking for another job while the global average is 27%
  • Source: Gartner

Creative and Marketing Fields to Increase Hires

The Numbers:

  • 75% of advertising and marketing hiring decision-makers plan to increase headcount over Q3 and Q4 2019
  • This is up from 60% six months ago
  • 62% expect to leverage more freelancers than they currently do

Job Growth Stalls but Still Tight Labor Market

The Numbers:

  • The labor market continues to tighten despite recruiting challenges and fill times at a historical high
  • The number of hires in April increased 4.2% from the previous month to a new series high, the highest level since 2009
  • Source: The Conference Board

More Than 25% of Employees to Leave Job Within the Year

The Numbers:

  • 29% of employees plan to leave their jobs within the next year
  • An even higher percentage of millennials have that plan at 38%
  • 42% of workers aren’t satisfied with their salaries
  • 62% want more flexibility and work-life balance programs
  • Source: Spherion

Scarcest Tech Skills of 2019

The Numbers:

  • Skills shortage for technology is at its highest level since 2008
  • The top three skills facing a shortage are big data/analytics, cybersecurity, and artificial intelligence
  • Source: Harvey Nash Inc.

Highest Net Employment Outlook in Over a Decade

The Numbers:

  • Net employment outlook in the U.S. is the highest since 2006
  • 27% of employers plan to increase payrolls
  • 3% planned to decrease payrolls
  • 69% were not planning a change
  • Source: Manpower Group Inc.

Some Workers Reluctant to Accept Pay Increase

The Numbers:

  • Some employees are concerned that a pay bump could push them out of an income that qualifies for public benefits such as Medicaid.
  • Source: LinkedIn
By |2019-06-13T16:38:59+00:00June 14th, 2019|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: June 14, 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.