BountyJobs Bites
Unemployment Rate Reaches 4%
The Numbers:
- The U.S. unemployment increased from 3.9% to 4% in January
- Nonfarm jobs increased by 304,000
- Unemployed workers grew to 6.5 million with 175K being temporarily laid off
- Source: U.S. Bureau of Statistics
Most CFOs Struggle to Find Talent
The Numbers:
- 93% of CFOs find the competitive hiring market is a strain on recruiting talent
- Staff-level roles take 30 days or more
- Manager-level roles can take an average of 5 weeks
- Source: Robert Half Finance & Accounting
Automation Increases Hiring of Human Workers
The Numbers:
- 87% of employers plan to grow or maintain headcount due to automation, up from 86% last year
- 25% of production and manufacturing employers forecast an increase in headcount
- 20% expect to employ less people this year
- Source: ManPower Group
2018 in Talent Acquisition and the 2019 Impact
The Numbers:
- 62% of recruiters state that the obstacles in finding key candidates are harder than they were five years ago
- 70% of job seekers find that it’s easier to find a job now than it was five years ago
- 59% of recruiters cite a shortage in skilled labor as a major issue when sourcing candidates
- Source: BountyJobs
IBM Introduces Program to Help Reskilling
The Numbers:
- The Data Scientist certification program is to give workers skills, knowledge and expertise for the role
- Per a LinkedIn study, IBM stated that there are 151K unfiled data scientist jobs across the U.S.
Employment Trends Index Declines
The Numbers:
- The index fell to a reading of 109.56 in January
- Due to the government shutdown, some aspects of the Employment Trends Index were unavailable or biased
- Source: The Conference Board
Hiring Increases for Tech in January
The Numbers:
- The tech sector added about 11,200 jobs in January
- IT services, custom software development and computer system design were tops in growth
- Services and software category brought in about 7,000 new hires
- Source: U.S. Bureau of Labor Statistics
Manufacturing on the Rise in January after Lull in December
The Numbers:
- The Institute for Supply Management’s manufacturing purchasing managers index rose to 56.6
- This is an increase from December’s two-year low of 54.3
- The employment portion decreased to its lowest reading since April 2018.
- Source: Institute for Supply Management
Automation Increasing Upskilling
The Numbers:
- 76% of employers plan to upskill their workforce by 2020
- This is up from 21% last year
- Source: ManpowerGroup
Majority of Employers Struggled to Find Candidates in 2018
The Numbers:
- 83% of HR professionals faced challenges when finding suitable candidates in the past year
- 52% of HR professionals stated that the skills gap has ‘worsened’ or ‘greatly worsened’ in the past two years
- 83% feel that the quality of job applicants has decreased
- Source: SHRM
Skilled Workers Control Silicon Valley Job Market
The Numbers:
- 95% of hiring managers ‘expect their companies to grow or hold steady in the coming months
- Source: West Valley Staffing Group
Trade Vacation Days for School Loan Debt Relief
The Numbers:
- UNUM employees have $32K in student loans, and monthly payments of $350, on average
- Giving up five vacation days could add up to $1,200 toward student loan debt per year
- Source: UNUM
Fastest-Growing Job in the U.S.
The Numbers:
- Solar panel installation is the fastest-growing job across eight U.S. states
- The median salary for this position of $34,490 in 2017 is expected to increase 105% by 2026
- Statistician is also a fast-growing job with an average salary of $84,060
- Farming in Alaska and animal trainers in Oregon are others on the fastest-growing jobs list
- Source: Bureau of Labor Statistics
Employers Hire for Skill Sets, Not Open Roles
The Numbers:
- 57% of talent acquisition professionals have hired for a specific skillset, rather than a specified role
- 77% are hiring for roles today that didn’t exist a year ago
- Source: Korn Ferry