THE FOLLOWING IS A SYNOPSIS OF THE REPORT FOR THE MONTHS OF SEPTEMBER AND OCTOBER:
***In September, for the fifth consecutive month, recruiting difficulties reach four-year highs. This is a fairly significant number for employers as well as employees. It means that there are or may be jobs available but those in the talent pool may not have the skills available to obtain these positions. Nearly 55% of the Human Resource representatives of the organizations in the survey have stated problems with recruitment in the last 12 months;
***In September, more employers raised pay for new hires in both the manufacturing and the service sector. This number may be misleading since the average increase is only 0.4%, which is hidden by the cost of living and the time that it has taken to raise the starting rates. If hiring rates increase significantly then we will see a true upsurge in the new hire starting salaries;
***In September, fewer companies reported increases in salaried or ‘exempt’ job openings compared with a year ago. Typically, exempt employment changes by smaller rates than nonexempt (hourly) employment during economic downturns and expansion. Monthly nonexempt openings have not followed a specific trend when compared with 2013; HR professionals in both the manufacturing and the service sector report having increases in job openings within the month. For every month since September 2009, shortly after the end of the ‘Great Recession’, the manufacturing and service sectors have reported a net increase for nonexempt openings.
Health care added 23,000 jobs during the month of September. Health care has been the leading job creator during the entire recovery period. The Healthcare jobs have outpaced employment trends for the past seven (7) years. In 2012, Healthcare accounted for 1 in every 6 jobs created. Healthcare is traditionally recession proof. Demand for health care, and thus the need for more health care workers, is expected to keep growing. By 2020, there will be 5.6 million health care jobs, according to a report published by Georgetown University…..and the funny thing is that Obam aCare will have a negligible effect on this job growth.
While this information is good news for those already in the health care industry or who are considering entering it, it is also a reflection of a bigger trend that is not necessarily good for the U.S. economy: rising health care spending.
In the broader economy, 1 in 5 laid-off workers can’t find a job…..another way to look at it….more than 20% of workers laid off in the last five (5) years haven’t found new jobs and among those laid-off Americans who say they have found a new job, 46% said it came with a pay cut and 44% reported a drop in status. There seems to be an increasing pessimism among the unemployed. I, however, think that for those who actually ‘want’ to work, the economy is improving enough to hold out an offer…let’s look at those industries that have job openings but are having trouble filling the positions. This is a direct result of the lack of training in some industries.
I’ve subscribed to an ‘alert’ for the past 12 years. Herman Trend Alert. Years’ ago, they predicted that we would have a skills’ crisis in this country. I think we have been seeing it for a good bit of time….workers need to maintain a competitive advantage over the next worker. Not to ‘fight’ for the job but to recognize that it is important to be the best that one can be in the workplace. For yourself…..