Posts Tagged labor market
The number of HR manager positions will increase this year by 1,100 in California—the highest volume in the nation—and by 8.6 percent in Nevada, the largest percentage increase among the 50 states and Washington, D.C., according to a set of forecasts at Projections Central, a website with employment data compiled by state agencies.
The U.S. unemployment rate of 4.9 percent in January 2016—a level not seen in nearly eight years—has spawned a discussion in the media and among economists on whether we are getting closer to “full employment.”
There has perhaps never been a perfect match between the labor market’s demands and the collective skills of its job seekers. They both change over time, and when they don’t line up exactly, the result is that some people are out of work or underemployed.
The U.S. labor market has continued to add jobs this year, and in recent months the unemployment rate has fallen to levels not seen since 2008. And yet, there is plenty of evidence that hiring could be even stronger: Job openings in our country’s labor force remain at near-record levels, and many HR professionals have cited challenges with finding qualified applicants for their vacancies.
Los Angeles is home to the second-largest metropolitan economy in the United States, but did you know that it is also the birthplace of an array of pop culture standards? The electric guitar, the bathing suit and the skateboard were all developed here, along with several high-tech innovations like the Mars rover and the F-117, the first stealth fighter built for the United States military.
Talent pools are something we all should be well aware of as HR Leaders. As we work with our recruiters or do the recruiting ourselves, finding the right employees to fill open roles and adding staff to support our business goals is an essential function of what we do. Yet, sometimes the challenge rests not in our ability to chart the depths; rather, it is the fact that we can already see the bottom.
HR will be called upon for creative retention strategies
It may be of little consolation to those who remain out of work, but more people are viewing the U.S. labor market in a positive light. Consider, for example, the plight of “discouraged workers,” who are defined by the federal government as people not looking for work because they believe no jobs are available for them.
By most accounts, 2014 went down as a successful year for job creation. Problems do remain— millions are still out of work, others are underemployed and middle-class jobs are shrinking—but purely from a numbers standpoint, the labor market grew at a solid pace.