September BLS numbers reflect the need for companies to optimize their current recruitment processes.
The U.S. Bureau of Labor Statistics (BLS) September 2015 report showed employment increased by 142,000. Thus far in 2015, employment growth has averaged 198,000 per month, compared with an average monthly gain of 260,000 in 2014. The unemployment rate remained unchanged at 5.1% in September, the lowest level in 7 years.
Healthcare added 34,000 jobs in September, in line with an average increase of 38,000 jobs per month over the prior 12 months. Kristin Carpenter, Director of Operations in San Diego, commented on the market, “In the Healthcare division, we have seen a decrease in temporary candidates on assignment as the summer months have come to an end. This decline was expected, as this is cyclically a slower time for temporary work. It is recommended that healthcare candidates keep their resumes up to date and put all areas of practice on their resumes to attract all types of healthcare practices.”
Professional & Business Services
Employment in professional and business services added 31,000 jobs with job gains occurring in computer systems design and related services. Compared to the national unemployment rate of 5.1%, the IT unemployment rate remains much lower at 2.9%. Eastridge’s Technology & Engineering Division in San Diego has seen a high demand for Software Developers (Java, .NET, Python, iOS/Android) and Cyber Security (Application, Data & Infrastructure). The labor market for these skilled technology candidates is scarce and with the decline in technology talent in the U.S., it will be more difficult for companies to meet the current technology staffing demands.
Manufacturing & Distribution
Jason Bruckman, Vice President of Workforce Recruitment in Las Vegas, is seeing different results than the decline in manufacturing jobs that the BLS reported, “We have seen an increase in pay for manufacturing jobs across the board. This is a direct result of the demand for the manufacturing and distribution workforce. To meet this demand, companies have been raising pay by $1.00-$2.00 per hour for entry level positions and offering a pay increase of as much as 50% for skilled positions.”
Demand For Higher Pay
Laura LaManna, Branch Manager of the Manufacturing & Distribution Division, commented on the demand for higher wages, “Candidates have become more confident in their abilities to demand for higher pay, especially for skilled machine operators. In the recently published Consumer Price Index Report, consumer confidence in the economy is the highest rate in eight years. As a result, candidates feel stronger than ever that they can find a position that offers competitive compensation and career growth.”
What Companies Need To Do
Tim Merri, Executive VP of Workforce Recruitment, commented on the value of an effective recruitment strategy, “Job positions are becoming increasingly difficult to fill as the talent pool continues to shrink. In order to secure top candidates for these positions, organizations must first understand the gaps that exist in their recruitment strategy. Results from our recent talent acquisition assessment show that nearly 25% of companies fail to know the following metrics about their hiring processes:
- Applicants received per requisition
- Resumes submitted by recruiters
- Candidates invited to interview
- Job offers accepted
Take the steps necessary to know these metrics and improve your recruitment strategy accordingly."
Improve Your Recruitment Strategy
Eastridge Workforce Solutions helps companies optimize their current workforce processes and recruitment technology. Contact us to learn how we can help improve your organization’s current hiring processes.