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Staffing Hub reports on the latest Bureau of Labor Statistics Job Openings and Labor Turnover data finding “Job Openings, Quits Fell in July” “Job openings per unemployed person remain above pre-pandemic levels, but this indicator is clearly on a downward trajectory amid cooling labor demand growth and impressive labor supply growth,” Wells Fargo Economics senior economist Sarah Watt House wrote. #staffingindustry #jobsreport #staffingtrends #staffingandrecruiting

This month's Employment Situation Summary indicates that while the labor demand has been cooling, we are settling into a more balanced labor market trend compared to what we saw from late 2020 to June 2023 when signs of cooling began.   Companies seem caught in a bit of “no man’s land” – the uncertainty of demand in their business points to hiring fewer employees, in turn focusing on retaining existing employees in case demand picks up. For job seekers, the ratio of job openings versus the unemployment rate has been falling downward, and as a result, those who find themselves unemployed are having a more challenging time finding a new position.   Have questions about how we can support you in today's hiring market? Contact our team today! www.fgp.com/contact-us   #Hiring #HiringMarket #Trends #Staffing #Recruiting

According to the U.S. Bureau of Labor Statistics’ recently published April 2024 Job Openings and Labor Turnover report, the job market continues to be stable. Key highlights include: 💼 Job Openings: The number of job openings decreased slightly to 8.1 million compared to 8.5 million in March. Private educational services sector saw increases, while healthcare & state and local government education sectors experienced declines. 🤝Hires: April saw a little change in both the number (5.6 million) and rate (3.6 percent) of hires compared to March. 🚪Separations: Changed little at 5.4 million, with quits and layoffs remaining stable. Source: https://lnkd.in/dSXp62P #JobMarket #staffing #jobopenings #hirings #labormarket #EmploymentTrend

The U.S. Department of Labor released May employment data today and there are some glimmers and pauses in the numbers. The good news: More jobs were added in May than in April. There is some progress in hiring growth, but it’s slow. The bad news: Unemployment increased to 4%. This seems to mirror what I’m seeing across clients. Companies that want to hire and have confidence in their sector are hiring quick. Companies are placing more scrutiny on roles and where they can generate more impact with less money. And some companies are still hopping in and out of hiring and aren’t sure what the next 6 months hold. Did you feel any changes in the job market in May? #unemployment #hiring #jobsearch

US job openings unexpectedly rose in May, interrupting a months-long downtrend that underscored a gradual slowdown in labor demand. Available positions increased to 8.14 million from a downwardly revised 7.92 million reading in the prior month that was the lowest in three years, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS Consulting Limited, showed Tuesday. The median estimate in a Bloomberg survey of economists called for 7.95 million openings. Both hiring and layoffs picked up in a sign of churn in the job market. The quits rate was unchanged. Read more to see how this churn can help with new hiring. https://lnkd.in/euW3yWUt #hiring #recruiting #diversityrecruiting #hersishiring #HERSadvisors #recruitmentredefined

The US Bureau of Labor Statistics’ recently published February 2024 Job Openings and Labor Turnover Report indicates stability in the job market. Here are the key highlights: 💼 Job Openings: The number of job openings remained relatively steady at 8.8 million compared to 8.7 million in January. Finance and insurance, state and local government, arts, entertainment, and recreation sectors saw increases, while information and federal government sectors experienced declines. 🤝 Hires: February saw little change in both the number (5.8 million) and rate (3.7 percent) of hires compared to January. 🚪 Separations: Total separations, including quits, layoffs/discharges, and other separations, remained at 5.6 million, with arts, entertainment, and recreation seeing an increase and transportation, warehousing, and utilities experiencing a decrease. Source: https://lnkd.in/dSXp62P   #JobMarket #staffing #jobopenings #hirings #labormarket #EmploymentTrends

In July, the JOLTS report delivered discouraging news to new job seekers on job openings, reporting only 8.8 million openings compared to the expected consensus of 9.5 million. Adding to the concerns, there was a significant downward revision of 417,000 jobs for prior months, marking the largest monthly negative adjustment ever recorded. These developments reveal a substantial weakening of the labor market. Digging deeper into the data, it's clear that the employment landscape is facing challenges. The number of new hirings decreased from 5.9 million to 5.77 million, indicating a slowdown in job creation. Additionally, the ratio of job openings to available workers has dropped to 1.5, the lowest it has been since September 2021. This signifies a more competitive environment for job seekers and highlights the ongoing difficulties faced by those seeking employment opportunities. #jobs #unemployment #labor

Switching positions Looking to change up your job? There might not be as much choice as there was a couple of years ago. That’s the takeaway from national job openings data, which fell more than expected in April to the lowest level in over 3 years, according to the Bureau of Labor Statistics, as the labor market continues to show signs of cooling. The new figures released yesterday showed that the number of available positions in the US for April was 8.06M — some ~300K less the month prior — translating to 1.24 openings for every unemployed person, the smallest ratio recorded since June 2021 and down from a peak of 2:1 in 2022. With hiring rates slowing and quitting rates stalling, the latest job openings data suggests that the supply and demand for labor is normalizing back towards pre-pandemic levels; as such, bonds are surging ahead of Friday’s employment report, which is forecast to show the US adding 185K jobs for May.

The April jobs report was published last Friday by the Bureau of Labor Statistics, showing modest job growth for the month of April at 175K, compared to 242K on average for each of the last 12 months. That said, the job gain is still strong when comparing to prior years, but could indicate a cooling in the market. Unemployment ticked up slightly in April compared to March 2024, and wage growth in April slipped down below 4%, which is the lowest since June 2021. Also of note in the report, 32% of all jobs added in April were in the Healthcare sector. Our team at FGP continues to monitor the hiring market to help our clients and candidates stay up-to-date on trends and shifts. Have questions about how we can support you in finding your next employee or your next job opportunity? Contact our team today! www.fgp.com/contact-us #Hiring #HiringMarket #Trends #Staffing #Recruiting

We are starting a new series each month where we share highlights from the Bureau of Labor Statistics monthly jobs report. In November, it is a home run for the economy with the unemployment rate falling from 3.9% to 3.7%. While some industries did not see jobs added, the manufacturing industry saw 28,000 jobs added to the workforce. We also saw a steady 0.4% increase in the average hourly earnings across the United States. Average hourly earnings rose by 0.4% in November and by 4.0% over the last 12 months, outpacing inflation again. We are hopeful that these highlights provide you some insight into the job market and workforce today. Are you wanting to expand your workforce in 2024? Searching for a new career? Discover our staffing and recruitment resources at www.fssstaff.com! ~ #JobsReport #JobsReportHighlights #WorkforceDevelopment #BusinessDevelopment #Staffing #StaffingAgency #Recruitment