BountyJobs Bites
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
