Businesses and job seekers both need to be familiar with hiring trends. Following the changes and understanding the next year’s outlook can help you prepare for growth and opportunity – whether it’s on a personal level or affecting your entire company. Here’s what the numbers are telling us about 2017.
Coming on Strong
2016 was a truly incredible year for hiring. More than 1.9 million new jobs became available in the first 11 months alone. This makes a streak of more than 74 consecutive months of job growth and has driven unemployment rates to their lowest level since 2007.
How Growth Makes Hiring Tougher
One side effect of such low unemployment rates is that it’s harder than ever for employers to hire. Just last year, the rate was 1.4 unemployed individuals to 1 open job – a sharp decline from 6.6 to 1 in 2009. There are simply fewer people looking for jobs, making it more difficult for companies to fill in the gaps.
Technology is King
More and more employers are looking to hire people in ‘tech roles.’ These positions (such as data scientists and software engineers) are coveted across the board. Their value and the number of open jobs means it’s harder than ever to get these individuals on your team; but it also means they will have the most fruitful job searches.
The Transparency Trend
Our final trend is a call for more transparency about pay and benefits. Federal regulations may require disclosure of salaries based on gender and other factors so companies need to be prepared with this information.
At Ingenium Talent, we can help connect you with the best professionals for your company, no matter the current hiring trends.