Tag - Bureau of Labor and Statistics

August 2017

Three Potential Business Pitfalls due to changing job market

Three Potential Business Pitfalls for Next Quarter

Elevated Quit Rate According to the latest release from The Bureau of Labor Statistics (BLS), 3.1 million people quit their jobs in June of 2017. In the staffing world and across other industries, a high quit rate is interpreted as sign of employee confidence in the job market. Employees will rarely voluntarily leave a position unless they are very confident in their ability to secure another job. Retention has been a major concern for employers, and a hot topic at [...]

Wage Increases are Essential in a Near Zero Unemployment Environment

Wage Increases are Essential in a Near Zero Unemployment Environment

Goldman Sachs economists underestimated just how low the unemployment rate would drop this year; so much so that they have actually adjusted their outlook for 2018 to 3.8% from the original 4.1% projection. Typically, wage increases occur when the job market is tight because employers have to pay more to attract and retain workers. Despite a current 4.3% unemployment rate, and a highly competitive job market, wages are rising barely faster than inflation. The most recent Bureau of Labor [...]

July 2017

Negotiating Your Job Offer

5 Tips for Negotiating Your Job Offer

In our experience, most job offers are virtually predetermined because both the employer and the candidate have communicated their needs beforehand. Not every job offer is cut and dry. Sometimes a little back and forth is necessary so that both parties feel satisfied by the outcome. When you initially applied to the position, you were most likely asked to provide your current salary. Some applications will even ask candidates to provide a salary expectation as a means of screening [...]

June 2017

Out of Office: Planning for Summer Vacations in the Workplace

Out of Office: Planning for Summer Vacations in the Workplace

Rarely is summer fever more prevalent in the U.S. than around the Fourth of July. In nearly every industry, employees are planning their summer getaways and family vacations. Even if a full blown summer vacation is not in the cards for everyone, most people will take a long weekend at least once throughout the summer, opting to take off on Friday, or extend their trip to include Monday. According to Statista, the July 4th weekend was the most popular [...]

Why you should hire overqualified candidates

Above and Beyond: 5 Reasons You Should Hire Overqualified Candidates

With the unemployment rate at 4.3% in May 2017, the current economic situation is forcing many employees to apply for positions that don’t match their skills and salary level. Yet employers in practically every industry are having difficulty finding candidates to fill open positions. The number of open jobs as reported by the Bureau of Labor and Statistics hit a record high of 6 million on the last business day of April. There is a general imbalance in candidate [...]

April 2017

Feeling the Stress of Staffing? 5 Tips to Get Ahead of Hiring in Today’s Market

It is not uncommon for large local companies to have 200 or more job openings. Recent figures from the Bureau of Labor Statistics indicate that there are still more jobs open than candidates to fill them. Real average earnings for employees increased 0.5% from February to March of 2017. This is creating a level of competition among employers to win top talent.  Employers are faced with the need to raise wages in order to attract and maintain key employees. [...]

Best Laid Plans: 5 Things to Do Before Starting a New Job Search

According to the Bureau of Labor and Statistics, the number of people who quit their jobs reached 3.2 million in January of 2017. The unemployment rate is steadily dropping this year as well. Job-seekers are feeling justifiably confident in their ability to make a career change in this current market. According to a recent Gallop poll, 51% of employees are actively looking for new positions or watching for job openings.  It’s not surprising that many employees would be eager [...]

March 2017

5 Reasons You Should Always Speak to a Veteran Recruiter

As recruiters contacting potential candidates, we are met with a vast array of responses that range from genuine curiosity to a curt brush-off. It is understandable that not everyone is actively looking for a job, or a career change. However, any experienced recruiter will tell you that the best time to conduct a job search is when you are happily employed. Candidates who wait to start a job search until they are unemployed relinquish valuable negotiating power in the [...]