The ACTUAL Status of Hiring Today Hey everyone - how’s hiring going for ya? 🤪 Some might think that with an unemployment rate of 6%, compared to the pre-pandemic unemployment rate of 3.5% (February 2020), hiring would be easy like Sunday morning. Much easier to hire now than back then, right? Wrong. Open Roles Are Movin' On Up Many of the hiring challenges plaguing those in talent acquisition still apply in 2021, only with additional obstacles to clear. HOWEVER, we’ll be the first to point out that, hey, things are looking up, everyone! 📈 In fact, we have just published a special edition of our annual report, "The Definitive Collection (At This Moment) of Industry Trends in Critical Hiring". Download your copy here.  Per recent research, 82% of employers plan to hire in 2021 with 35% planning on hiring for net new jobs. We are wheels up! ✈️ This Data Speaks Volumes Thousands of jobs [...]

Through the Lens of Talent Acquisition The Road To Recovery Discussions with Talent Acquisition Leaders  Amy Hanavan, Manager of Talent Acquisition Operations, Moog, Inc What implications did COVID-19 present to your business? Top issues you needed to solve for? In the beginning, change was an adjustment, but the team really stepped it up. I am seeing an increase in communication, team is available to anyone that has a question, connected through video chat, cell phones, text messaging. We have no doubt that productivity has increased, I can hear it in team meetings, in 1:1s of employees that report directly to me. Are you finding and hiring the talent you need? It depends on the level of location and experience. In some cases, people are/were receiving more money with unemployment benefits, so aren’t ready to accept a position with us. When interviewing people remotely, how to make sure they are the right culture fit? Training for managers [...]

Through the Lens of Talent Acquisition The Employment Situation — September 2020 The Numbers: Total non-farm employment rose by 661,000 in September Temporary help services rose by 8,100 The national unemployment rate declined, from 8.4% to 7.9% 13 of the 15 major industry groups gained jobs last month Leisure & Hospitality added 318,000 jobs Unemployment rate continues to decline as the number of job losers on temporary layoff continues to decline: 4.498 million in September from 6.160 million in August The number of “permanent job losers” continues to rise, to 3.756 million in September from 3.411 million in August Labor force decline in September to 160.143 million, it remains well below its January 2020 peak of 164.606 million Source: Bureau of Labor Statistics Forecasters Split on When U.S. Economy Will Return to Pre-Pandemic Levels The Numbers: According to its October report 38%, of the National Association for Business Economics report estimate pre-pandemic GDP levels by [...]

Through the Lens of Talent Acquisition 1.4 Million Jobs Gained in August; Unemployment Rate Falls to 8 Percent The Numbers: Unemployment rate fell to 8.4 percent last month from 10.2 percent in July 1.7 million jobs were added in July, and 4.8 million in June Private-sector payroll growth was just 1 million jobs in August Private-sector employment is still 10.7 million below its pre-Covid February level So far 49.5% of the 21.2 million jobs lost at the start of the pandemic were recovered Permanent job losses in August rose by 534,000 to 3.4 million About 6 million workers remain on temporary layoff, down from 18 million in April Median duration of unemployment continued to rise to 16.2 weeks, up from 13.7 in July Retail Leads Job Gains - 249,000 jobs added - sector is still down by 2.5 million since February Professional business services increased by 197,000 Source: SHRM Employment trends index rises for the [...]

Heartbeats of the Economy Through the Lens of Talent Acquisition As Observed by BountyJobs The Numbers: Hiring activity on many of our ATS partners’ platforms was reported at 90+% of pre-COVID-19 levels in July 20% more agencies are engaging to fill open jobs Winning candidate to recruiter’s inbox lead-time shrunk from 7 down to 6 days The 30-day job fill rate for third-party recruiter sourced jobs is currently double than average Highest number of jobs offered for remote work were in medical devices, healthcare services, pharmaceuticals and biotech fields In addition to healthcare, biotech, medical devices; the aerospace & defense and financial services industries posted the most jobs in the past two months Source: BountyJobs Marketplace U.S. Job Growth Report for July The Numbers: ADP’s National Employment Report logged only 167,000 private sector jobs in July, a significant drop following May and June’s growth Employment at medium-sized businesses fell by 25,000 Large business added 129,000 jobs Small [...]

We Can Help. Lean on Us to Find the Right Talent, Fast. For companies on the frontline fighting the COVID-19 outbreak, filling critical open roles is more important now than ever before. BountyJobs is committed to helping you get the people you need, fast. If your company is not part of essential services but you are hiring, we want to help. BountyJobs can help your business find the skills it needs as quickly and efficiently as possible in these uncertain times. For customers new to BountyJobs, we are offering no cost access to our recruitment marketplace to help you hire the talent you need.   Click here to learn more and take advantage of the offer.   *************************************************************************************************************** Removing the Roadblocks. Curated Offers from Our Partners to Smoothen Every Step of the Hiring Process. A quickly evolving employment market impacted by global events requires a nimble and fast-moving recruiting process. Organizations within the BountyJobs partner [...]

BountyJobs Bites June Unemployment at a Shaky 11.1 Percent The Numbers: 8 million jobs were added to the U.S. economy in June The unemployment rate decreased to 11.1% in June from 13.3% in May However, the misclassification error still continues – the unemployment rate would be 12.3% in June without the error Unemployment claims for the week ended June 27 totaled 1.4 million, more than analyst expectations Source: U.S. Bureau of Labor Statistics Construction and Other Industries See Hiring Rebound The Numbers: Hiring in construction was up 77% compared to May Growth of at least 75% was seen in industries such as legal, hardware and networking, manufacturing, public safety, public administration and education Hiring in June was down 39.6% in June from last year Source: LinkedIn Hiring Report Pay Cuts on the Rise The Numbers: About four million workers (mostly white-collar jobs) have experienced a pay cut during the pandemic This could signal a long-term [...]

BountyJobs Bites CEO Economic Confidence Decreases The Numbers: CEOs of small to midsize businesses have less confidence in the economy than 2008 recession levels 80% reported ‘some level of revenue decline’ 41% said they plan to maintain staffing levels Source: Vistage Financial Services Professionals Experiencing Job Security The Numbers: In spite of a negative economic outlook, financial services professionals are confident in their job security 57% have confidence in keeping their jobs over the next six months 62% forecast a worsening economy over the next year Source: Phaidon International Group Healthcare Recruiters See More Activity The Numbers: The healthcare job market may be leveling off due to an increase in recruiting activity along with less position closures 43% of employers are recruiting or have increased recruiting activities in May from April 56% of employers that perform elective procedures have had at least half or more of their volumes return Source: The Medicus Firm BountyJobs Reports: [...]

BountyJobs Bites: AI Job Post Growth Slows The Numbers: AI job posts in the U.S. slowed their growth by 10% AI and ML (machine learning) job posts grew 14% between January 6 and March 15 year over year Following March 15 growth decreased to just 4.6% year over year Source: LinkedIn Demand for Pharma Jobs Increases The Numbers: Demand is up for customer service, engineering, finance, pharmaceutical research and development (R&D), sales and software development roles Source: Randstad Sourceright Employment in Canada Potentially Heading Toward Rebound The Numbers: Employment in Canada increased by 208,400 jobs in May over April The number of jobs lost in April was revised upward to 2.36 million Source: ADP Canada 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 [...]

BountyJobs Bites 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 [...]