23 Sep Job Seekers Face Healthy Job Market but Recruiters Need to Assure them
As a global mobility manager, you will meet assignees who think their employment prospects are not bright. However, a look at the bigger picture shows that the United States as of today is experiencing a healthy job market, with the current unemployment rate at 3.6 percent, according to the Bureau of Labor Statistics.
That means that while there are still millions of unemployed people, their number is still relatively low compared to previous years. Local talents need not be wary of foreign talents taking their jobs away. Simply put, there are enough jobs for everyone.
More important, companies across the country are continuing to hire huge numbers of applicants; they might be more picky and selective in their choices, emphasizing quality instead of quantity, but the recruitment doors remain open.
First, let’s take a look at the able-bodied and able-minded workforce. According to HBR, many hardworking and skilled Americans want full time work, eschewing others’ claims that the march of the gig economy is not slowing down soon.
About 4.4 million Americans are working as either part-time or contractual workers; but given a choice, they would rather sign aboard firms that provide a steady paycheck, a few perks, and overall financial stability.
As to the actual number, the Bureau of Labor Statistics states that there are still 5.9 million Americans who remain unemployed — and chances are, many of them are doing the rounds of applications, from networking to social media, to land an interview with a recruiter.
Now for the bright side. Citing a report from the Labor Department, Arkansas Online says that there are still seven million full-time jobs all over America that are waiting to be filled. The numbers did drop from 7.3 million available positions in August to seven million in September.
However, one can still see the ray of hope upon doing the math: seven million job openings still outnumber 5.9 million unemployed Americans. Arkansas Online rightfully confirms that the number of available positions exceeds that of Americans looking for work by at least one million.
Another remarkable statistic is that these employed Americans do stay with their employers. To date, there has been very little movement in terms of resignation and job transfers, notwithstanding the popular notion that millennials in particular are in a constant job-hopping flux.
The number of full-time Americans who did quit their jobs lies at a mere 2.3 percent. Regardless of their employment status, a majority of the U.S. workforce also maintains that they feel confident when it comes to exploring other job prospects.
Bloomberg supports their reason for optimism. Checking records from the Federal Bank of New York, it says that the qualified candidates receive multiple job offers. Preferred candidates, or applicants with the credentials and qualifications that mostly match the recruiters’ job openings, get two to three job offers on average.
About 11 percent of the job-seeking workforce experience this happy prospect, compared to about 10.1 percent who receive only one job offer.
This scenario of one candidate receiving two to three solid work opportunities also is at its highest since 2014. Many of those who belong to the cream of the crop believe that they will continue to get numerous officers. Their number has increased as well: from 22.8 percent in July 2018 to 24.1 percent in September of 2019.
The next time you hear an assignee bemoan the apparent lack of job offers, review the figures above and let them know how to reach you. Many job seekers search for jobs online, but global mobility managers should be able to help them get a job faster. Opportunities abound everywhere, includingg in northern California. Work is out there and employers do want to hire.