BLS Analysis for Recruiters, June 2019 – 5 Articles

Bob Marshall’s June 2019 BLS Analysis for Recruiters; 7/5/19

The 5 June BLS Analysis Articles…

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Growth in AI-related Job Postings Slows; More Openings Than Workers

Daily News, July 1, 2019

Artificial intelligence job postings on Indeed rose 29.1% over last year, according to a blog post by job board ‘Indeed’.  However, that was lower than the previous 2 years.  AI job postings on the website rose 57.9% from May 2017 to May 2018 and had risen 136.3% between May 2016 and May 2017.

It also found that searches for AI jobs fell 14.5% from May 2018 to May 2019.  In comparison, searches increased 32% between May 2017 and May 2018.  ‘Indeed’ noted that this year’s drop could suggest more job openings in AI than workers to fill them.

The top 10 jobs involving AI skills included:

1.  Machine learning engineer

2.  Deep learning engineer

3.  Senior data scientist

4.  Computer vision engineer

5.  Data scientists

6.  Algorithm developer

7.  Junior data scientists

8.  Developer consultant

9.  Director of data science

10.  Lead data scientist

The AI job title with the highest salary was machine learning engineer at $142,858.

Longest Period of Economic Growth in US History

Daily News, July 1, 2019

The US economic expansion at the start of this month is now the longest period of economic growth in US history at 121 months, CBS News reported.  However, the pace of growth in this recover has been relatively slow.

Previously, the longest expansion was 120 months, which ended in the dot-com crash in 2001, according to the National Bureau of Economic Research.

Just last week, real gross domestic product was reported to have grown 3.1% on an annualized rate in the first quarter, according to a third estimate by the US Bureau of Economic Analysis.

Separately, The Institute for Supply Management today reported a survey for its measure of activity in the US manufacturing sector found continued expansion of business strength but at softer levels.

Its manufacturing purchasing managers index fell to a reading of 51.7 in June, its third month of deceleration. However, readings of 50 or more still indicate expansion.

The employment portion of the index, however, rose to reading of 54.5 in June from a reading of 53.7 in May.

Cybersecurity Job Postings Rise by 94% since 2013

Daily News, June 26, 2019

The number of job postings for cybersecurity professionals has grown 94% since 2013, 3 times faster than IT jobs overall, according to data released today by Burning Glass Technologies, a labor market analytics firm based in Boston.

On the other hand, there was a pool of only 2.3 employed cybersecurity workers for each job opening in 2018 — the same ratio as in 2015-2016, according to the report.

“As demand for cybersecurity workers has boomed, the supply of these workers has struggled to keep pace,” Burning Glass CEO Matthew Sigelman said.  “This cybersecurity challenge shows no sign of slowing, either for government or business.”

Cybersecurity jobs account for 13% of all IT jobs, but they take 20% longer to fill, on average, according to Burning Glass.

In addition, the average advertised salary for cybersecurity jobs is $93,540; that is 16% more than the average for all IT jobs.

Ranking of Top Cities to Find Jobs

Daily News, June 14, 2019

The top cities to find jobs were listed in a new blog post by job board Indeed with San Jose, California, ranking as the best city to find a job.

Cities were ranked based on competition for jobs, salaries, ratings of companies and the likelihood of unemployment.  All the criteria were then boiled down to an overall score with San Jose getting a score of 332.

The top 25 cities on the list by rank:

1.  San Jose, Calif.

2.  San Francisco

3.  Boston

4.  Birmingham, Ala.

5.  Nashville, Tenn.

6.  Minneapolis-St. Paul

7.  Milwaukee

8.  Oklahoma City

9.  Washington

10.  Salt Lake City

11.  Indianapolis

12.  San Antonio

13.  San Diego

14.  Austin, Texas

15.  St. Louis

16.  Sacramento, Calif.

17.  Louisville, Ky.

18.  Memphis, Tenn.

19.  Virginia Beach, Va.

20.  Columbus, Ohio

21.  Kansas City, Missouri-Kansas

22.  Cincinnati, Ohio

23.  Richmond, Va.

24.  Miami

25.  Providence, RI

84% of Employees Just ‘Coming to Work;” Higher Percentage of Gig Workers Fully Engaged

Daily News, June 14, 2019

A large majority, 84%, of workers are just “coming to work,” compared to the 16% of workers who said they are “fully engaged,” according to a study released today by the ADP Research Institute that surveyed more than 19,000 employees in 19 countries.

The biggest driver of engagement is whether an employee works on a team; members of teams are 2.3 times more likely to be fully engaged, according to the study.

It also found that full-time gig workers are more engaged than traditional full-time workers at 21% compared to 15%.

“It has been widely reported that companies with high engagement perform better financially, are productive, have lower turnover and greater customer satisfaction,” said Marcus Buckingham, head of people and performance research at the ADP Research Institute.  “Our research found that working on a team — regardless of demographics, work status, gig worker or non-gig worker — is the common thread to ensuring a productive and engaged workforce.”

Other findings:

*Employees who trust their team leaders are 12 times more likely to be fully engaged.

*Nearly a third, 29%, of virtual workers are fully engaged versus 18% who work in an office.

*The more educated and higher-level the worker, the more engagement occurs.  Nearly one fifth, 19%, of those with an advanced degree are fully engaged compared to 12% of those with no college education.

*Nearly one quarter, 24%, of C-suite/VP-level workers are fully engaged compared to 14% of mid-level and first-level team leaders and 8% of individual contributors.

Among the countries surveyed, the United Arab Emirates had the highest percentage of fully engaged employees at 26%. China had the lowest at 6%.

In the US and Canada, the percent of engaged employees was at 17% each.  In Mexico, the number was 13%.