>>By the Numbers: May 3, 2019

By the Numbers: May 3, 2019

Job Creation Blows Past Expectations in April

The Numbers:

  • 263,000 non-farm payrolls were added in April, way beyond expectations of 190,000
  • Unemployment fell to 3.6%, the lowest level since December 1969, rather than staying at the March rate of 3.8%
  • Source: Bureau of Labor Statistics

Manufacturing & Transportation Take a Wage Hit

The Numbers:

  • ‘Real wages’ (adjusted for inflation) experienced negative growth to the tune of .8% over the year
  • Wages may be up overall, but only a select group of jobs and cities enjoyed meaningful growth – tech hubs such as San Francisco, San Jose, and Seattle
  • The Source: Q1 2019 PayScale Index

Economists Forecast Slower Economic Growth as Hiring Slows

The Numbers:

  • While economic expansion is expected to continue over the next year, only 52% of panelists surveyed forecast growth in real gross domestic product to grow more than 2%
  • This is down from 67% from respondents in a NABE survey in January
  • Source: National Association for Business Economics

McDonald’s Partners with AARP to Hire Those 50 and Older

The Numbers:

  • Currently, the McDonald’s staff is comprised of 11% 50 and older
  • 40% of the company’s workforce are teenagers
  • The fastest growing age group in the workforce are those 50 and older

Career Growth Valued Over Pay

The Numbers:

  • Career growth opportunities beat out a higher salary and benefits for the first time in the Job Seeker Nation report
  • 61% of respondents look for career development opportunities when considering new employment
  • Younger age groups are more likely to prefer career development over money
  • 45% of job seekers stated that ‘it’s harder to find a job this year’ even though unemployment is so low
  • Source: Jobvite

Irrelevant Pre-hire Assessments are the Pits

The Numbers:

  • 71% of candidates are okay with pre-hire assessments as long as they correlate directly with the job role while 25% of candidates are indifferent
  • 47% feel they take too long
  • 37% were unclear as to why they were taking it
  • 30%(!) felt it didn’t relate to the job
  • Source: ThriveMap

Culture Worth Leaving a Job For

The Numbers:

  • 74% of U.S. and U.K. employees say workplace culture is important to them
  • 40% report having a positive work culture at their company
  • 48% said they would consider a 60-hour work week in exchange for a better culture
  • Source: Speakap

Hourly Wages Increase as Job Growth Plateaus

The Numbers:

  • Wage growth in the U.S. sits at 3.8% in 2019, an increase from 3.4% in 2018
  • The average wage level increased $1.04 since 2018, which is an average hourly wage of $28.40
  • Manufacturing and Trade industries are driving the growth with average hourly wages at $29.55 and $25.27 an hour, respectively.

Job Candidates Field Multiple Offers and Move Quickly

The Numbers:

  • More than 50% of job candidates get multiple employer offers and make a decision within a couple of days
  • 59% of job seekers have received two or more offers when applying for jobs
  • 58% make their decision in two or fewer days
  • The top five reasons to choose an offer: salary, benefits, advancement potential, commute, position’s responsibilities or challenges

Journalists Making Jump to PR or Marketing

The Numbers:

  • Newsroom employment decreasing while PR employment increases make the jump for journalists attractive
  • In 2017 there were six PR jobs for every reporter role while newsroom employment decreased 23% from 2008 to 2017
  • PR employment is set to increase 9% from 2016 to 2026 while journalist jobs are predicted to drop by the same amount in that timeframe
  • Source: Pew

Women Increasingly Choosing to Work in Blue-Collar Industries

The Numbers:

  • Male-dominated fields are seeing the percentage of female workers increase by 50% over this century
  • Higher pay is attracting women to these fields rather than traditional jobs
  • Source: The Wall Street Journal

U.S. Job Market Remains Strong

The Numbers:

  • Private payrolls grew the most in nine months in April by 275K
  • The biggest increases went to jobs in professional and business services which had 59,000 new hires
  • Midsized companies (50 to 100 employees) added 145K of the new jobs
  • The U.S. economy grew 3.2% in Q1, the fastest first-quarter growth since 2015
  • Source: ADP and Moody’s Analytics
By |2019-05-03T16:20:26+00:00May 3rd, 2019|Categories: Talent Acquisition Trends|Comments Off on By the Numbers: May 3, 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.