BLS Analysis for Recruiters, September 2019 – 5 articles

Bob Marshall’s September 2019 BLS Analysis for Recruiters; 10/4/19

The 5 September BLS Analysis Articles…

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Online Job Advertising Rises 15%; Report Lists Largest Firms

Daily News, July 22, 2019

IT Job Growth Underperforms, but Engineering Jobs Beat Overall Market

Daily News, September 23, 2019

The number of technology jobs in the US rose 0.08% year over year in August representing an additional 4,300 workers on a net basis, according to the TechServe Alliance, the national trade association of the IT and engineering staffing and solutions industry.

But while IT job growth ticked up, growth remains relatively slow, it reported.

“While ticking up slightly in August, IT employment growth continues to underperform growth (in terms) of the overall job market, said Mark Roberts, CEO of TechServe Alliance.  “Despite robust demand in many IT skillsets, the lack of qualified professionals has resulted in IT employment remaining essentially flat on a year-over-year basis.”

On the other hand, Roberts said engineering job growth is outperforming the overall job market.

Engineering employment increased by 2.04% year over year in August, representing 53,300 engineering workers, according to the organization.

Dick Morris: US Sees Big Jump in Personal Income

Western Journal, Dick Morris, September 16, 2019

Despite media reports that try to minimize our progress, household income in the United States has risen sharply since 2014.

Back then, inflation-adjusted median household income stood at $55,913.  In 2018, it was $63,179.

This $7,266 increase amounts to a 13% hike in income over the past 4 years.

Liberal and Democratic contentions that the Trump economy only benefits the wealthy fall flat in the face of the data.

Put this increase in incomes into perspective.

In the past 20 years, since 1999, median household income (adjusted for inflation) has risen by only 2.7%.

So over 20 years, it has risen by less than 3%.

But in the past 4years, it has risen by 13%!

A spectacular performance.

Bottom of Form

Trump’s policies are directly responsible for the increase:

– His tax cut has increased the money Americans have to spend and that corporations have to invest in growth.

– He has sliced Chinese imports to the U.S. by at least 10% since the tariffs started and negotiated good deals with South Korea, Japan, Canada, Mexico and the European Union.

– Up until the recent Yemeni/Iranian raid on Saudi oil production, Trump has been able to hold energy prices down by maximizing American production.

– His border enforcement policies are reducing the flow of cheap labor into our country and permitted a tighter labor market to force wages of low-income workers up.

– He has created more than 6,000,000 jobs since he took office.

Democrats are interested in painting as bleak a picture as possible of the Trump economy, but the statistics tell another — very exciting — story.

Employees Mostly Agree That Age Diversity Can Strength Workplaces, but 45% Say Policies Favor Millennials

Daily News, September 16, 2019

Despite media reports to the contrary, more than 90% of employees are satisfied with the diversity of age ranges in their workplace, according to a study released today by professional services firm Addison Group. Respondents agree that different ages in the workplace bring a variety of strengths within each generation.

The report, titled “Age Is Just a Number: The Truth Behind Generational Stereotypes at Work,” found 86% of employees agreed that their colleagues within their age ranges are respected in the workplace.  Further, 79% of respondents reported that they would take a job at a company where the makeup skewed older than them, and 75% would take a job at a company with a younger makeup.

While many companies offer trendy perks to appeal to what they think young talent wants, the research found all generations generally want the same things: good pay, work-life balance, and enjoying the work they do.  While trendy perks can elevate your work culture, the essentials bring in top talent, according to the report.

“If employers invest in generous compensation, a healthy work culture and an engaging work experience, they reap the payoff across all demographics of their workforce,” it stated.

However, 35% of respondents reported feeling that their workplace’s culture and processes favor one generation over others, with 45% reporting that it is mostly skewed toward millennials.  Still, respondents agree that different ages in the workplace brings a variety of strengths within each generation

“The age range of the current employment landscape is diverse as ever,” said Addison Group CEO Tom Moran.  “With baby boomers working later in life and Gen Z just entering the workforce, the four generations are being forced to work in one shared environment for the first time ever.  One might think that differences in work styles may clash, but the key to a harmonious workplace is understanding how each generation works together — their strengths, weaknesses and everything in between — and this report highlights just that.”

Addison Group surveyed 1,000 full and part-time employees in May 2019.

US Hiring Outlook Strong for Q4, Employers Remain Optimistic:  ManpowerGroup

Daily News, September 10, 2019

The US hiring outlook remains strong as employers are optimistic about hiring in the 4th quarter, according to the Employment Outlook Survey released today by ManpowerGroup.

It found that 22% of employers plan to increase hiring in the 4th quarter while 5% plan a decrease for a net employment outlook of 17%, or with seasonal adjustment, 20%.

That is down from a seasonally adjusted employment outlook of 21% for the 3rd quarter but up from 19% in the 2nd quarter.

“We’re still in a time of unprecedented opportunity for US workers as there are more open jobs than there are people actively seeking work,” said Becky Frankiewicz, president of ManpowerGroup North America.  “While the global economic landscape is increasingly uncertain, employers still intend to hire across all industries.”

Among metropolitan areas, Columbus, Ohio, posted the highest seasonally adjusted net employment outlook at 31%. Richmond, Virginia, came in 2nd at 29%.

By industry, “leisure and hospitality” posted the highest seasonally adjusted net employment outlook at 27%.

ManpowerGroup’s report is based on a survey of 11,500 employers in the US.

The survey is part of a larger, global survey of more than 59,000 employers in 44 countries.  It found that employers in 43 of the countries plan to grow payrolls.

“Hiring plans for the next 3 months vary significantly globally, with robust Outlooks reported in many large markets while the uncertainty of Brexit and the impacts of tariffs contribute to evidence of softer hiring intentions elsewhere,” said Jonas Prising, ManpowerGroup chairman and CEO.  “We are continuing to see employers planning to hire for technical and soft skills and committing to invest in their people with upskilling programs.”

Strongest hiring prospects were reported in Japan, Taiwan, the US, India and Greece, while the weakest hiring activity is expected in Spain, the Czech Republic, Argentina, Costa Rica and Switzerland.

Among the 1,930 Canadian employers surveyed, the seasonally adjusted net employment outlook of 12% in the 4th quarter report was unchanged from the 3rd quarter report.

In Mexico, the seasonally adjusted net employment outlook was 8% for the 4th quarter, down from 10% in the 3rd quarter report.

Employers are Hiring, but 80% say They Can’t Find Skilled Candidates

Valerie bolden-Barrett, HR Dive, September 4, 2019

Dive Brief:

*More than 82% of employers said they’re actively hiring, despite predictions of an economic downturn, according to a survey of 150 HR leaders by Challenger, Gray & Christmas, Inc.  80% of the respondents, however, reported having difficulty finding workers, with 70% identifying skills shortages as the reason.

*43% of Challenger’s respondents reported that, although they have enough applicants, those applicants do not have the needed skills.  Another 43% said they do not receive enough applicants, with 27% noting that candidates who do apply are not qualified.

*”The labor market remains tight and employers are reporting skills shortages in almost every area, including in STEM, data analytics, human resources, finance, and operations.  Job seekers have opportunities if they can make their cases to employers,” Andrew Challenger, VP of global outplacement and executive and business coaching, said in a media release. 

Dive Insight:

Demand for workers with tech skills continues to grow and the search for tech talent keeps getting tougher, according to research. 

An Indeed study found that employers need tech skills in marketing, finance, sales and other departments.  However, the skills shortage is more severe in the tech industry.  According to a survey from Modis and General Assembly, 80% of decision-makers acknowledged a tech talent gap in their industry.  Nonetheless, 67% of them said they intend to increase staffing in the coming year.  The number of decision-makers who planned to raise headcounts decreased from 79% in 2018 — possibly an indication that confidence in hiring could be slipping in anticipation of a possible economic downturn or in response to skills shortages.

“Emerging technologies and automation are infiltrating nearly every industry.  Employers need workers who are somewhat familiar with adapting to and working with new technology,” said Challenger in the release.  “The job openings exist. It is up to job seekers to be able to market themselves in a way that appeals to hiring authorities.  That may mean clearly outlining skills and accomplishments, earning certifications tangential to your current position, or learning new skills entirely, whether that means taking classes in coding, business administration, or financial technology.”

Applicants may or may not be able to learn new skills or certifications while hunting for jobs.  Whether it’s in industries that are more susceptible to automation, like manufacturing and grocery, or sectors with continuously evolving best practices, like tech, training new hires who are eager to learn the skills needed to fill jobs could be the first step to closing the skills gap that continues to challenge employers.