Consider these facts about the December 2018 U.S. labor market:
- For the first time ever, total nonfarm employment surpassed 150 million jobs
- Employment rose by 312,000 jobs, 70% more than expected
- Manufacturing gained 284,000 jobs, 37% more than 1 year ago
- The number of temporary workers increased by more than 10,000 for the sixth consecutive month
- The labor participation rate rose to 63.1%. It’s highest since 2013
Source: US Bureau of Labor Statistics, December 2018
No wonder it’s so hard to find good people.
According to Staffing Industry Analysts (SIA) this data suggests that “the ability of the U.S. economy to draw in more workers from the sidelines and into the labor force will be a key factor in determining how long the current economic expansion can continue without interruption.” For employers, this means finding workers to sustain and grow productivity and profits will continue to be challenging, requiring new and inventive recruiting, hiring, and retention programs.
Bring on the experts.
The fast-changing processes, technology and expertise required to bring qualified new recruits off the sidelines and into interviews is intimidating to even the most resourceful HR department. Temporary staffing and outsourced recruitment solutions can lessen the blow of this super tight labor market, and bring new talent to your doorstep—quickly. Partnering with a professional recruitment organization to deliver proven new techniques and recruiting bandwidth is a business-wise option today, and experts say it will continue to be for the foreseeable future.Back to Knowledge Page