The number of average daily searches jumped from 4 million in 2008 to 5.2 million during the recession in 2009 Many employers could afford to pull back on third party advertisements as they were inundated with applications from their Career Sites & other sources. December 2010 the MEI saw an increase of 13% YOY. Conversely, the average number of responses per job DECREASED 13% YOY. As the market becomes more saturated with jobs and less saturated with active seekers, employers will need to do more to attract the talent they need.
- National unemployment is beginning to moderately decline, and the number of online opportunities is steadily on the rise (refer back to the MEI). As the employment market continues to shift, seekers (active, passive or poised) will have more choice among opportunities. How will employers stand out as the market becomes more saturated with new openings? Historical reference point. In October of 2007 the MEI value was 188 points, and unemployment was near 5%. In December of 2010, the MEI was 130 points and unemployment is 9.4%.* Encourage recruiters and managers to reflect on the recruiting challenges they had only 3yrs ago. You will notice that 2007 and 2008 are a mirror images of 2009 and 2010. It’s reasonable to expect the MEI and Unemployment to continue moving towards pre-recession levels. *Note - (The MEI takes a comprehensive look at competitor sites, career sites, newspapers, and various other sources in key markets. Not just Monster).
Eric Winegardner: Recruiting & Placement Strategies
Placement & Recruiting in Today’s Employment Landscape PRESENTED BY: Eric Winegardner VP, Client Adoption March 30, 2011 Pearson Learning Solutions Summit
Agenda <ul><li>Current Employment Landscape </li></ul><ul><li>Attempt to Foresee the Future </li></ul><ul><li>Opportunities around Placement </li></ul><ul><li>Open Forum Q&A </li></ul><ul><li>ATTEMPT to steer clear of Social Media </li></ul><ul><ul><li>Leave that to Juliette! </li></ul></ul>
National Unemployment Rate <ul><li>8.9% in February, 13.7 million jobless individuals </li></ul>
Unemployment by Duration <ul><li>60% unemployed longer than 15 weeks; 8.2 million </li></ul><ul><li>16% unemployed 15-26 weeks; 2.2 million </li></ul><ul><li>44% unemployed MORE than 27 weeks; 6+ million </li></ul><ul><li>17.5% unemployed less than 5 weeks; 2.4 million </li></ul>
Other Interesting Data from February <ul><li>Additional 2.7 million Americans marginally attached to the workforce </li></ul><ul><li>Total of 6.4 million Americans who want work, but aren’t considered unemployed </li></ul><ul><li>6.9 million MULTIPLE Job Holders; 5% of workforce </li></ul><ul><ul><li>3.5 million hold 1 FT & 1 PT job </li></ul></ul><ul><ul><li>1.8 million hold 2 PT jobs </li></ul></ul><ul><ul><li>222,000 Americans work TWO FULL-TIME JOBS! </li></ul></ul>
Online Recruitment Activity Continues On Path Of Year-on-Year Growth About the Index: The Monster Employment Index provides HR professionals and labor market observers with a monthly snapshot of online job demand and employer recruitment activity. With traditional help-wanted advertising migrating online and nearly every Fortune 500 company utilizing online recruiting, the Monster Employment Index is uniquely positioned to contribute valuable data complementing official labor statistics. Tracking online job postings for positions to be filled within 30 to 60 days, the Index is an important leading indicator of labor market performance. Note that for each index series, the baseline value of 100 represents the average of the first 12 months of data. JAN 10 FEB 10 MAR 10 APR 10 MAY 10 JUN 10 JUL 10 AUG 10 SEP 10 OCT 10 NOV 10 DEC 10 JAN 11 Y-O-Y GROWTH 114 124 125 133 134 141 138 136 138 136 134 130 122 7%