In the labor market currently there is a talent shortage. There are lots of open jobs, but they aren’t being filled. According to Bloomberg.com, on April 1, “the National Federation of Independent Business reported that in March a record-high percentage of small businesses surveyed said they had jobs they couldn’t fill: 42%, vs. an average since 1974 of 22%. Also 91% of respondents said they had few or no qualified applicants for job openings in the past three months.” But unemployment still stands at 6%… so it’s not due to there not being enough candidates out there. Read the rest of this entry »
Earlier this week I talked with one of the independent recruiters in NPA. He was lamenting yet *another* placement deal that fell apart because the client took too long to make an offer. It seems that many clients still don’t understand the reality of the talent short market that we are in. For several years, government and media sources in the USA have been hammering home the high unemployment rate, leading many employers to believe there is a glut of available job candidates. While it’s true that the rate is still high, the rate on its own doesn’t tell the whole story. For people with a bachelor’s degree or higher – the kind of people your clients want to hire – the unemployment rate is below 4%. This is generally considered “full employment.”
Here are 9 resources independent recruiters can share with their clients about the realities of today’s labor market, and how they are losing candidates due to slow hiring processes: Read the rest of this entry »
Today’s guest blogger is Anne Downing with Demetrio & Associates, LLC located in greater Phoenix, Arizona. Demetrio & Associates is a boutique recruitment firm that has clients across the US as well as in international locations. The firm places candidates in sales & marketing, advertising, wireless and software positions.
It seems independent recruiters hear about unemployment, job openings, layoffs etc. each and every day. One day there is news of low unemployment rates, and then the next thing you know it we hear something negative and we are left thinking that there are few job openings in the US and it may stay this way for a long time.
As of the end of June, there were 3.8 million job openings in the US., the most since July 2008. Even the lukewarm jobs report for July was the best in five months. Where are all of these jobs you might ask… according to the Bureau of Labor Statistics from the US Department of Labor, the industries with the greatest amount of job openings as of June 2012 are the following:
- Professional and Business Services (718,000 openings)
- Healthcare Services (700,000 openings)
- Healthcare Assistance (644,000 openings), and
- Transportation and Utilities (601,000 openings).
Other sources, including Monster.com, indicate that highly skilled workers and entry-level workers have the biggest pool of jobs to choose from. Industries including finance, engineering and technology have numerous job openings across the US for the highly skilled workers. Entry-level candidates have the greatest opportunity to find positions in the healthcare and hospitality industries.
We have a long way to go to get back to our pre-recession employment market because the US lost 9 million positions during the recession. It has been predicted by Moody’s that if things stay on course the US will create 2.7 million jobs in 2012 and 4.5 million jobs in 2014. If this turns out to be the case, we will be back to our prerecession number by the end of 2014.
There are a lot of great job opportunities out there and a lot of qualified job seekers. It’s a great time to be an independent recruiter!