BountyJobs Bites May Sees Largest Jobs Increase Ever The Numbers: Nonfarm payrolls rose by 2.5 million in May and the unemployment rate fell to 13.3% Forecasts had called for a decrease in 8.3 million and an unemployment rate of 19.5% Almost 50% of the job increases came from leisure and hospitality Source: U.S. Labor Department Confusion Abounds Around Skills Needed in this Market The Numbers: 57% of those that are recently unemployed are ‘unable to identify their transferable skills’ 58% are ‘unsure how to communicate transferable skills on their resume’ Source: LiveCareer Many Workers Concerned Their Skills are Obsolete The Numbers: More than 25% of workers say they worry they do not have the skills needed in this recovering economy A third have learned new skills to make sure ‘they had the skills to be employable’ Source: Prudential Financial Employee Confidence Around Retaining Jobs Grows The Numbers: 70% of workers in the last two weeks [...]

BountyJobs Bites Remote Work May Stick Around Post-COVID The Numbers: The percentage of employees working remotely will likely drop from the current 53% to 22% after the pandemic This is still more than three times higher than last year’s 7% Source: Willis Towers Watson Attrition Not Likely During Pandemic Depending on Employer Response The Numbers: 78% of employed U.S. adults (18+) stated they would not consider a job change during the pandemic 69% didn’t feel they would be able to find a new job during the pandemic 69% of those 44 and younger vs. 55% of those 45 and older would consider changing jobs during the coronavirus outbreak if they felt their current company was not doing enough to protect their employees. Source: Yoh BountyJobs Reports - A Talent Acquisition Peer Forum: Solving the Biggest Hurdles of the Next 30-60-90 Days The Numbers: This global pandemic is impacting some industries with massive hiring freezes while others [...]

BountyJobs Bites Gig Economy Going Strong The Numbers: Freelance jobs have seen a 21% year-over-year increase in job postings Skills in online content saw a surge, but now there is also a growing demand for programming skills, coding, web development, social media development/online marketing, etc Source: Freelancer.com U.S. Workers Have Lost Trillions Due to Job Losses and Pay Cuts The Numbers: $1.3 trillion in annualized income has been lost due to COVID-19 for U.S. workers This includes $260 billion in cuts for employees who still have jobs About one-fifth of metropolitan areas and even fewer smaller communities will recover employment levels seen before the pandemic by the end of the year Source: SHRM A Third of Workers Impacted by Pandemic Have a New Job The Numbers: One-third of workers who lost a job, income, or hours due to COVID-19 have now started a new job in that timeframe Latino Americans were the most likely group [...]

BountyJobs Bites Hourly Workers Deal with Unemployment Obstacles The Numbers: 45% of hourly and gig workers have already filed or plan to file for unemployment 47% are concerned about accessing unemployment benefits Hourly and gig workers are also worried more about finding work than the general population Source: Bluecrew Gen Z Workers Hit Hardest by COVID-19 Layoffs The Numbers: Gen Z as well as those that are new to the workforce have been impacted more by COVID-19 related lay-offs than other age groups Those that are 25 years old or younger have seen a 93% higher rate of layoffs than those that are 35 years old or older The tourism industry has seen the most layoffs with a higher percentage for workers between 16 and 19 years old at 33% Source: Gusto Graduates Expect Fast Recruiter Feedback The Numbers: Before stay at home orders were instituted, graduates expected to apply to around 10 jobs – [...]

BountyJobs Bites 3.17 Million New Jobless Claims The Numbers: 17 million Americans filed jobless claims in the week ending May 2 This adds to the 30 million people who have previously applied for unemployment benefits since COVID-19 significantly hit the U.S. in March Source: Department of Labor Majority of Employers Still Formulating Return-to-Work Plan The Numbers: 56% of employer are starting to work on their return-to-work plan 26% already have a return-to-work strategy 18% do not have a return-to-work strategy Source: Blank Rome Shift to Remote Work Expands Tech Talent Access The Numbers: Only 5% of tech workers are now less interested in a remote position 43% of professionals in tech are actively searching for new job opportunities due to the recession 68% of businesses are reporting active hiring Source: Hired’s State of Remote Work 2020 Internship Offers on the Decline The Numbers: Internship offerings are down, and those in travel and tourism were ‘severely’ [...]

BountyJobs Bites: Initial Jobless Claims Fall to 3.8 Million The Numbers: For the week ended April 25, the number of initial jobless claims fell by 603,000 to a total of 3.8 million Within the past six weeks more than 30 million initial jobless claims have been filed Source: U.S. Department of Labor Less Than Half of Employers Expect Job Declines The Numbers: 32% of employers expect job declines at their firms 1 % expect increases 63% have leveraged a hiring freeze due to COVID-19 Source: National Association for Business Economics GM to Hire Temporary Workers to Produce Ventilators The Numbers: GM plans to hire more than 1,000 temporary workers to assist in ventilator production At least 30 ventilators are planned by the end of August per a $489 million government contract A starting wage of $16.67 per hour is the rate for both full and part-time positions Source: RTV6 Indianapolis Updated Unemployment Rate Forecast Released [...]

BountyJobs Bites More Workers Predict Employers Will Allow Remote Work Post-Pandemic The Numbers: More than a third of workers feel their employers will be more relaxed about remote work after the pandemic 28% of workers say they ‘plan to search for work that allows them to telecommute’ 45% say their employers are ‘fairly ready’ for the telework transition Source: OnePoll and Citrix College Internships and Job Offers Cancelled Due to COVID-19 The Numbers: About 75% of college students said their internships or post-graduate jobs have been canceled, moved remote, or delayed due to the pandemic 90% of college students were at least moderately concerned about the pandemic’s impact on the U.S. job market and economy Source: College Reaction About 40% of Recruiters Optimistic About Hiring Increases The Numbers: Almost 40% of recruiters forecast hiring increases within 90 days More than 22% expect increases in the next 30 days Recruiters in healthcare are even more optimistic [...]

BountyJobs Bites CEO Turnover Down During COVID-19 The Numbers: For the second month in a row in March, CEO turnover fell 94 CEOs left their posts in March This was a 27% decrease from February and 30% from this time last year While monthly totals fell, 441 CEOs left their posts in Q1 which is the second-highest quarterly total recorded since 2008 Source: Challenger, Gray & Christmas Small Businesses Concerned about Closures The Numbers: One in four businesses (24%) have temporarily shut down 40% of those still open for business said they will ‘most likely close temporarily in the next two weeks’ 43% stated that a permanent shutdown is unavoidable Source: MetLife & U.S. Chamber of Commerce Small Business Index Locum Tenens Staffing for Healthcare on the Rise The Numbers: Locum tenens staffing – the placement of temporary doctors – has a projected increase in revenue in 2020 of 5% Source: SIA BountyJobs Reports: Special [...]

BountyJobs Bites IT Employment Steady The Numbers: The U.S. IT sector added 8,500 new workers in March IT also lost 19,000 jobs last month across all industry sectors The unemployment rate for IT occupations held at 2.4% Source: U.S. Bureau of Labor Statistics Wages Increase for Transportation Jobs The Numbers: Wages for transportation and warehouse jobs grew 3.2% due to the increased demand for delivery of food and supplies The entertainment and recreation industry saw an increase of 2.9% annual wage growth as Americans have additional time for leisure activities at home Source PayScale Decrease in Global Working Hours Due to COVID-19 Equals Millions of Workers The Numbers: 7% of working hours are expected to be lost globally in Q2 This is the equivalent of 195 million full-time workers 81% of the global workforce of 3.3 billion are currently affected by full or partial workplace closures Source: International Labour Organization BountyJobs Reports: Hiring During COVID-19 [...]

We Can Help. It's Not Business as Usual A quickly evolving employment market impacted by global events requires a nimble and fast-moving recruiting process. Organizations within the BountyJobs partner network have created tools and solutions specific to the current state of the talent landscape to support talent acquisition leaders for critical needs now - quick hires for key industries that are supporting the weight of critical infrastructures. As we all navigate this 'new normal' of talent acquisition, we are committed to bringing you the most impactful solutions for employers and recruiters alike that ultimately remove the barriers to hiring success. We've Got You 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. We are offering you no cost access to our recruitment marketplace to help you do it. Learn more here. *************************************************************************************************************** [...]