The U.S. Bureau of Labor Statistics showed employment increased by 160,000 jobs, the lowest monthly job gain since September. This is a decrease from March’s revision from 215,000 to 208,000 jobs.
The unemployment rate was unchanged from the month prior and held at 5%.
Average hourly earnings increased by 8 cents in April, to $25.53, following an increase of 6 cents in March. Over the year, average hourly earnings have risen by 2.5%.
Professional and Business Services Employment
Professional and business services added 65,000 jobs in April, with 21,000 of the job gains occurring in management and technical consulting services. Over the prior 12 months, professional and business services added an average of 51,000 jobs per month.
Jennifer Ferderer, Account Manager of the Legal Division in Las Vegas, has seen an increased demand for direct hire staffing services for support staff. “In the past, companies would usually start support staff on a temporary to hire basis, but, with the shrinking market, they are willing to hire immediately to ensure they are getting the best possible candidate.
In today’s market, it is vital for companies to reevaluate their employees’ engagement and overall happiness in their role. Otherwise, they run the risk of losing their best employee to another company that offers more than a paycheck.”
Healthcare employment increased by 44,000 jobs in April, with 23,000 of the job gains occurring in hospitals. Over the year, healthcare employment has increased by 502,000 jobs.
Kristin Carpenter Director of Operations in San Diego, commented on the increase, “We have continued to see an increase in open requisitions for long term temporary and direct hire candidates. In the tight candidate market, we have started encouraging clients to be open to candidates with externship experience right out of school.”
Amber Trask, Account Manager of the Healthcare Division in Las Vegas has seen a massive increase in specialty positions. Coders, Case Manager, Social Workers, and candidates who are bilingual are in high demand. “Typically, employers have worked within a range for salary. Today, they are willing to exceed typical pay rate ranges to hire a qualified candidate. We’ve seen a lot of movement in the healthcare industry as people leave their positions for higher pay.”
Financial Activities Employment
Employment in financial activities rose by 20,000 in April, adding 160,000 jobs over the past 12 months.
Evan Levine, Executive Recruiter of the Finance & Accounting Division in San Diego, commented, “In San Diego, according to CareerBuilder’s Supply & Demand Data Portals, there has been an 195% increase in job postings for Accountants and a 311% increase in finance postings over the past year.
While candidates are seeing more opportunities, they need to continue to ask the right questions and ensure a role is the best step in their career. Additionally, organizations need to remain selective in their process despite seeing less qualified candidates available than they’re used to.
To achieve optimal results in hiring right now, it is more important than ever to have a trusted expert and partner in the job market.”
Manufacturing & Distribution Employment
JC Carrion, Executive Vice President of Workforce Recruitment in Orange County & Los Angeles, is seeing different results than the little change in manufacturing jobs that the BLS reported.
“Our Manufacturing & Distribution’s Professional Practice, which focuses on automotive, consumer goods, and medical device, has been seeing an increase in business due mostly to automation.
Technology has drastically increased the number of technical roles that we have been placing in the Manufacturing & Distribution industry.”
“Companies are running lean in Las Vegas and are understaffed in many cases. As a result, they are ultimately staffing temporary employees at the very last minute if they receive business they were unprepared for.”
What Companies Need To DoApril’s low employment numbers should warn companies that the pool of unemployed workers is, in fact, shrinking.
With the tight labor market, companies should find gaps in their hiring processes and make necessary changes to find skilled workers more efficiently and effectively.
Improve Your Hiring Processes
Eastridge Workforce Solutions created the Talent Acquisition Assessment to help organizations assess their current hiring processes and recruitment technology.