Recruitment: Job Stats Every Hiring Manager Should Know
CNI Recruiting is located in NJ and recruits throughout the U.S. for Sales, Marketing and Executive talent for business and healthcare. We periodically report on the status of the national job market.
February, 2016 Job Statistics As Reported By the U.S. Government Bureau of Labor Statistics (BLS)
- Change in Total Nonfarm Payroll Employment: +242,000
- Change in Total Private Average Hourly Earnings for All Employees: -$0.03
- Change in Total Private Average Weekly Hours for All Employees: -0.2
- Percent change in Total Private Aggregate Weekly Hours for All Employees: -0.4%
- Change in Manufacturing Average Weekly Hours for All Employees: unchanged
- Change in Manufacturing Average Weekly Overtime for All Employees: unchanged
- Change in Total Private Real Average Hourly Earnings for All Employees: +$0.05 (January 2016)
According to a survey by CareerBuilder, 2016 will be a year of strong job growth with thirty-six percent of employers planning to increase full-time, permanent staff. Financial services (46 percent) and information technology (44 percent) will outperform the national average. In addition, thirty seven percent of manufacturing companies and thirty six percent of health care organizations plan to hire more full time, permanent staff. According to BLS, the finance and insurance industries will experience some of the fastest growth.
Salaries Will Increase
The CareerBuilder survey also projected that eighty three percent of employers plan to increase compensation for existing employees in 2016, compared with 82 percent last year. Sixty six percent will offer higher starting salaries for new employees, compared with 64 percent last year. CNI Recruiting reviewed seven national employer surveys and determined that the average 2016 projected salary increase will be 2.9 percent. The companies that conducted the surveys are: Fast Company, Economic Research Institute (ERI), Mercer, The Conference Board, The Hay Group, Towers Watson Data Services and WorldatWork.
Diversity Will Increase
The CareerBuilder survey also indicated that employment diversity will increase in 2016: Fifty five percent of employers plan to hire or promote more women into management roles and 53 percent plan to promote diverse workers into management positions. Forty seven percent of employers plan to promote workers under the age of 30 into management roles.
The following presents 2016 sales employment, as projected by the U.S. Bureau of Labor Statistics. Numbers are in 000’s.
Sales and related occupations 15,985
Sales Supervisors 2,206
Sales Representatives, services 1,567
Sales representatives, wholesale and manufacturing 1,973
Sales representatives, complex scientific and technological products or services 699
Tightening Labor Market
BLS projects that in 2016 the growth rate of the labor force will decrease, as it has for the past several years. As the growth rate of new jobs increases and the growth rate of the labor force decreases, the labor market will continue to tighten and become more candidate driven with associated higher increases in employee compensation and greater recruiting challenges. In order to recruit successfully in this environment, employers will have to improve their recruiting practices and may want to consider engaging a recruiting firm to refer quality candidates.
CNI Recruiting provides Clients and Candidates with World Class recruiting service. Our referral fee is only 15% of Candidates’ first year base salary. There are no other charges and no surprises. If you require recruiting assistance please contact us today…we will exceed your expectations.
Phone (908) 874-6148