DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The February issue looks at minimum wage across the country and employment in the real estate sector. We’re also checking in on the labor markets in Europe. We compare the expectations and realities of the working world for new college grads, and also present what’s trending in Q1 of 2015. Our feature article discusses the importance of paying attention to the perception that candidates have of a company. And discover the questions that arise from the ongoing growth of the non-employee workforce.
DCR Trendline November 2014 - Non Employee Workforce Insight ss
This document provides a summary of trends in the staffing industry from the editorial staff of DCR TrendLine magazine. It discusses positive economic indicators including job and GDP growth. The unemployment rate dropped to 5.9% while payrolls exceeded expectations. Several industries added jobs including retail, healthcare, and information. The article also discusses wage trends, bonuses, and forecasts hiring growth in Q4 especially in accounting, finance, IT and seasonal retail positions. It highlights the large portion of the workforce consisting of independent contractors and temporary workers.
DCR TrendLine January 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The January issue explores two broad themes: predictions for the upcoming year and worker wellness. We look at trends for 2015 in the IT industry, HR technology, employment and workforce happenings, and talent acquisition. We explore causes of worker burnout, and peek in on the recreational services industry. Our feature article examines the use of big data analysis in the human resources function.
The DCR TrendLine editorial staff would like to extend our wishes to you for a happy and successful new year – full of hope and joy.
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
INSIDE THIS ISSUE:
- Top IT Trends for 2015
- Disruptions in HR Technology
- Employment Trends for 2015 and Beyond
- The New Sources of Talent
- Worker Burnout
- Industry Highlight: Recreational Services Index
- Wisdom Comes From Putting Things Together
- 2015 College Grad Prospects
DCR TrendLine March 2014 - Temporary Workforce Insightss
This month’s edition highlights what’s hot for talent acquisition and lists the fastest growing jobs in the country and where they can be found. We also continue this theme of growth by examining the emerging trends driving the increasing use of contingent workforces, particularly in the healthcare industry. And as a continuation of our monthly special feature on the BRIC countries, we turn our gaze to the Sochi Winter Olympics to discover how workers were staffed.
DCR Trendline October 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The October edition covers a range of topics, including the latest employment numbers from the Bureau of Labor Statistics and the continued growth of temporary employment. October is one of the most exciting months for sports fans, and it’s only fitting that this edition’s industry highlight is centered on sports-related employment. Our other areas of focus include how the definition and image of employees has progressed over the past decade, the increasing use of social media for recruiting, and on the value of talent supply chain management in meeting organizational talent needs. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at how vendor management systems can help companies fulfill the priorities and requirements of multiple stakeholders while meeting the shared single goal of eliminating complexity to increase operational effectiveness. - See more at: http://blog.dcrworkforce.com/dcr-trendline-october-2014#sthash.jW1AtNaQ.dpuf
RemX Workforce Perspectives Newsletter July 2017RemX Staffing
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could hinder future growth if not addressed.
RemX Workforce Perspectives Newsletter July 2017Saskia Styles
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could impact future growth.
Southern California Salary Guide & Job Market Outlook - 2015Joseph Ruiz
.A.I.T.H. Resources is pleased to offer the first and only salary guide indexed for the Southern California market and designed exclusively for Finance, Accounting, Information Technology and Human Resource practitioners. Our salary guide includes both qualitative and quantitative data to help our client partners successfully recruit and retain scarce human capital to gain a competitive advantage and improve operational performance. Additionally, we include a comprehensive list of proven talent strategies to bridge the growing talent capabilities gap
DCR Trendline November 2014 - Non Employee Workforce Insight ss
This document provides a summary of trends in the staffing industry from the editorial staff of DCR TrendLine magazine. It discusses positive economic indicators including job and GDP growth. The unemployment rate dropped to 5.9% while payrolls exceeded expectations. Several industries added jobs including retail, healthcare, and information. The article also discusses wage trends, bonuses, and forecasts hiring growth in Q4 especially in accounting, finance, IT and seasonal retail positions. It highlights the large portion of the workforce consisting of independent contractors and temporary workers.
DCR TrendLine January 2015 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The January issue explores two broad themes: predictions for the upcoming year and worker wellness. We look at trends for 2015 in the IT industry, HR technology, employment and workforce happenings, and talent acquisition. We explore causes of worker burnout, and peek in on the recreational services industry. Our feature article examines the use of big data analysis in the human resources function.
The DCR TrendLine editorial staff would like to extend our wishes to you for a happy and successful new year – full of hope and joy.
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
INSIDE THIS ISSUE:
- Top IT Trends for 2015
- Disruptions in HR Technology
- Employment Trends for 2015 and Beyond
- The New Sources of Talent
- Worker Burnout
- Industry Highlight: Recreational Services Index
- Wisdom Comes From Putting Things Together
- 2015 College Grad Prospects
DCR TrendLine March 2014 - Temporary Workforce Insightss
This month’s edition highlights what’s hot for talent acquisition and lists the fastest growing jobs in the country and where they can be found. We also continue this theme of growth by examining the emerging trends driving the increasing use of contingent workforces, particularly in the healthcare industry. And as a continuation of our monthly special feature on the BRIC countries, we turn our gaze to the Sochi Winter Olympics to discover how workers were staffed.
DCR Trendline October 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The October edition covers a range of topics, including the latest employment numbers from the Bureau of Labor Statistics and the continued growth of temporary employment. October is one of the most exciting months for sports fans, and it’s only fitting that this edition’s industry highlight is centered on sports-related employment. Our other areas of focus include how the definition and image of employees has progressed over the past decade, the increasing use of social media for recruiting, and on the value of talent supply chain management in meeting organizational talent needs. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at how vendor management systems can help companies fulfill the priorities and requirements of multiple stakeholders while meeting the shared single goal of eliminating complexity to increase operational effectiveness. - See more at: http://blog.dcrworkforce.com/dcr-trendline-october-2014#sthash.jW1AtNaQ.dpuf
RemX Workforce Perspectives Newsletter July 2017RemX Staffing
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could hinder future growth if not addressed.
RemX Workforce Perspectives Newsletter July 2017Saskia Styles
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could impact future growth.
Southern California Salary Guide & Job Market Outlook - 2015Joseph Ruiz
.A.I.T.H. Resources is pleased to offer the first and only salary guide indexed for the Southern California market and designed exclusively for Finance, Accounting, Information Technology and Human Resource practitioners. Our salary guide includes both qualitative and quantitative data to help our client partners successfully recruit and retain scarce human capital to gain a competitive advantage and improve operational performance. Additionally, we include a comprehensive list of proven talent strategies to bridge the growing talent capabilities gap
F.A.I.T.H. Resources is pleased to offer the first and only salary guide indexed for the Southern California market and designed exclusively for Finance, Accounting, Information Technology and Human Resource practitioners. Our salary guide includes both qualitative and quantitative data to help our client partners successfully recruit and retain scarce human capital to gain a competitive advantage and improve operational performance. Additionally, we include a comprehensive list of proven talent strategies to bridge the growing talent capabilities gap.
DCR Trendline September 2013 – Contingent Worker Forecast and Supply Reportss
We bring you the Trendline Report for September 2013, offering key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a pulse of the market. Rigorous examination of contingent workforce supply and demand provides you with predictive forecasts of wage trends and market status.
The document discusses a new OSHA initiative to increase protections for temporary workers. It was prompted by several temporary worker deaths in the past year. The initiative requires staffing firms and client companies to ensure temporary workers have a safe workplace and necessary safety training. Both entities may now be held liable for violations. Research shows temporary workers have higher injury risks due to lack of safety training and some employers view them as expendable. The initiative aims to address this issue and protect temporary worker safety.
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Reportss
Hello 2014! As we approach a fresh year, the editorial staff at TrendLine is excited to share our analysis and insights into the staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what’s happening in the world of contingent worker supply and demand and talent acquisition.
- DCR National Temp Wage Index
- 2014: What to Expect in the Workforce
- The Manufacturing Revival
- Temp Jobs Continue Steady Upward Trend
- Special Topic: Brazil e-commerce Market Watch
The document provides perspectives on Utah's economy from November/December 2010. It discusses how Utah had emerged from net job losses by late summer 2010, though growth was expected to be slow. It also summarizes Utah's new occupational projections between 2008-2018, which expect 64,000 openings annually, driven by growth and replacement needs. Additionally, it outlines how manufacturing took a heavy hit during the recession, with durable goods industries like furniture and transportation equipment seeing the largest losses.
DCR Trendline October 2013 – Contingent Worker Forecast and Supply Reportss
This document provides a summary of the fourth quarter 2013 issue of TrendLine, a contingent worker forecast and supply report. It highlights several key trends in the temporary staffing industry, including an expected surge in demand for temporary workers over the holiday season driving increased employment numbers and wages. Articles examine research showing temporary work can increase job satisfaction and an update on OSHA's initiative to expand protections for temporary workers. It also analyzes the declining US labor force participation rate and its impact, such as potentially hiding the effects of discouraged workers no longer counted in unemployment rates.
Lehigh Valley Job & Labor Market Outlook - AugustDon Stewart
This document provides an employment snapshot and overview of the job and labor market for the Lehigh Valley region in Pennsylvania. Some key points:
- The preliminary seasonally adjusted unemployment rate for the Allentown-Bethlehem-Easton metro area was flat at 5.9% in July 2014.
- Total employment in the metro area is up 2,400 over the past year, though jobs dropped by 400. Growth sectors include transportation and warehousing while healthcare declined.
- The document outlines trends in in-demand industries and occupations as well as largest employers in the region and their current job openings. It provides resources for further information on the local job market.
ADJUSTING TO THE CHANGING MARKET
Good News!
Employment numbers revised upward for July and August in the Bureau of Labor Statistic reports and a robust report for September clearly indicate
UK economy is showing signs of posting a strong pull-back. China on the other hand is facing the prospects of a slower growth this year. We cover this in the section on *Global Trends* in this month’s issue of Economy Matters.
In the section on *Domestic Trends*, we discuss the trends emanating out of the recent releases on GDP, Balance of Payments, IIP and Inflation during the month of February 2014.
In *Investment Tracker*, we analyse the latest data on investment proposals.
The *Sectoral* spotlight for this issue is on Travel & Tourism, which holds strategic importance in the Indian economy providing several socio economic benefits.
In *Focus of the Month*, we discuss the employment creation challenge that the economy is facing currently. In addition to our own analysis, we have carried articles from eminent experts on the subject.
- The employment landscape is changing as job numbers have been revised upward and the September jobs report showed strong growth.
- The market is becoming more candidate-driven, so companies need to revise hiring strategies to attract candidates, such as considering less experience for roles if it is not essential.
- Using contract staffing/temporary workers is becoming a more viable option, as it allows companies to meet changing staffing needs in a cost-effective way while providing work for candidates. Contract workers are no longer viewed as just secondary employees and many companies expect 50% of their workforce to be contingent hires by 2020.
Quarterly Economic Trends for Ohio Oil and Gas Industries - April 2014Marcellus Drilling News
A quarterly report issued by Ohio's Dept. of Jobs and Family Services issues a report on how the Ohio shale industry is faring with respect economic impacts and the number of jobs. The April 2014 edition of that report shows in the two years from Q3 2011 to Q3 2013 core shale-related industry employment (like pipeline construction and well drilling) was up 5,763 (79.0 percent). Employees in core jobs had an average wage of $71,661.
Michigan’s top economic leaders today issued a series of findings that forecast the state’s readiness to fill high-paying, high-demand jobs with educated and skilled workers.
And, while data show the state is generally prepared to meet the demand for high-wage jobs over the next three years, the ability to meet demand over the long-term is less certain.
1) The document summarizes US employment figures for March 2014, which showed solid job growth of 192,000 new jobs added and the unemployment rate remaining unchanged at 6.7%.
2) Gains were broad-based across multiple sectors such as professional services, retail, food services, and construction. Private sector employment surpassed pre-recession levels.
3) The steady job growth in March suggests the US labor market was less negatively impacted by winter weather than expected and continues moving slowly in the right direction of recovery.
The document summarizes key findings from the July Bureau of Labor Statistics employment report. It notes that while 162,000 new jobs were added in July and the unemployment rate edged down to 7.4%, many of the new jobs were in lower-paying industries. It also reports that the number of long-term unemployed and marginally attached workers remains high. Overall, the report suggests the job market is not improving rapidly but there was also no clearly negative news that would threaten the Federal Reserve's economic stimulus programs.
Hays 2016 Salary and HR Report in the Gulf CountriesEndri Bahja
The Accountancy & Finance sector saw positive hiring in 2015, particularly in legal and multi-national companies. While salaries remained largely stable, audit professionals saw increases. Half of employees received a salary increase in 2015, most commonly due to individual performance or promotion. Looking to 2016, 60% of employees anticipate changing employers to progress their careers or increase salaries, though many will stay for career progression opportunities. Employers seek experienced regional professionals to strengthen their businesses.
April's employment report showed robust job growth in the U.S. economy, with employers adding 288,000 new jobs during the month. The unemployment rate fell to 6.3%, its lowest point since 2008. Job gains occurred across many industries such as construction, manufacturing, professional services, retail, and education/healthcare. The strong report suggests the U.S. economy may be gaining momentum after slowing during the winter.
Mercer Capital's Value Focus: Professional Services Industry | Mid-Year 2014Mercer Capital
Mercer Capital's Professional Services Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes a macroeconomic trends, industry trends, and guideline public company metrics.
Nurturing the Start-ups – for building economyResurgent India
The document discusses nurturing start-ups to build the Indian economy. It summarizes that MSMEs are a key driver of India's economic growth, providing employment and equitable development. However, MSMEs face challenges accessing financing due to their risk profile. The document calls for enabling policies to provide funding and support to help MSMEs realize their potential and further fuel India's economic growth.
In 2009, Business Leaders for Michigan (BLM)
released the Michigan Turnaround Plan, a plan
on how to make Michigan a Top Ten state for
job, economic and personal income growth.
The Plan was updated in 2012 to identify the
six most distinctive assets Michigan had which
could be leveraged to accelerate growth.
These assets include the state’s engineering
prowess, geographic location, and world-class
higher education institutions, among others.
The 2013 New Michigan Report is the first in
an annual series in which Michigan’s progress
in leveraging its assets into economic growth
will be tracked. Michigan’s performance on
various metrics will be charted over time, and
compared to the results achieved in other
high-performing states.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The April edition looks at the growing talent management software market and employment in the technology sector. We continue our global series on the ASEAN region by looking at talent trends in the Philippines, and also examine which countries around the world are the most worker-friendly. We explain the debate on if the U.S. economy is at full employment, and throw light on the current situation of the economy. Our feature article discusses the usage of talent analytics and delves into some common myths about big data and metrics. Finally, we reveal which industry in the country has the happiest workers.
DCR National Temp Wage Index
Full Employment: Jobs vs. Inflation
Best Practices in Recruiting for 2015
Changes in the Talent Management Software Market
Industry Highlight: Technology Index
The Philippines – Poised For Growth Through BPO
The World’s Most Worker-Friendly Countries
Measure What Matters
The Happiest Industries
DCR TrendLine May 2014 - Temporary Workforce Insightss
Can you believe it’s already the second quarter of the year? As the year continues to speed by, this month’s edition of TrendLine focuses on trends and predictions in the talent management industry, by looking at what’s buzzing in HR tech and examining how crowdsourcing is playing a role in the temporary staffing market. Continuing on the theme of technology, we peek at the IT job market to see how and where demand for professionals is growing. We also look into our crystal ball to give you insights into what the staffing landscape will look like in 2022. And this month, we conclude our series on the BRIC countries, by taking a glance at India and it’s potential for temporary work development. At TrendLine, we’re always focused on what’s trending in anything to do with contingent worker supply and demand, and on that note are really excited to unveil a new quarterly topic – What’s Trending in the Temp Market? – that consolidates our research into a short list of critical trends in key talent sectors of the staffing industry. Take a look and let us know what you think!
F.A.I.T.H. Resources is pleased to offer the first and only salary guide indexed for the Southern California market and designed exclusively for Finance, Accounting, Information Technology and Human Resource practitioners. Our salary guide includes both qualitative and quantitative data to help our client partners successfully recruit and retain scarce human capital to gain a competitive advantage and improve operational performance. Additionally, we include a comprehensive list of proven talent strategies to bridge the growing talent capabilities gap.
DCR Trendline September 2013 – Contingent Worker Forecast and Supply Reportss
We bring you the Trendline Report for September 2013, offering key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a pulse of the market. Rigorous examination of contingent workforce supply and demand provides you with predictive forecasts of wage trends and market status.
The document discusses a new OSHA initiative to increase protections for temporary workers. It was prompted by several temporary worker deaths in the past year. The initiative requires staffing firms and client companies to ensure temporary workers have a safe workplace and necessary safety training. Both entities may now be held liable for violations. Research shows temporary workers have higher injury risks due to lack of safety training and some employers view them as expendable. The initiative aims to address this issue and protect temporary worker safety.
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Reportss
Hello 2014! As we approach a fresh year, the editorial staff at TrendLine is excited to share our analysis and insights into the staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what’s happening in the world of contingent worker supply and demand and talent acquisition.
- DCR National Temp Wage Index
- 2014: What to Expect in the Workforce
- The Manufacturing Revival
- Temp Jobs Continue Steady Upward Trend
- Special Topic: Brazil e-commerce Market Watch
The document provides perspectives on Utah's economy from November/December 2010. It discusses how Utah had emerged from net job losses by late summer 2010, though growth was expected to be slow. It also summarizes Utah's new occupational projections between 2008-2018, which expect 64,000 openings annually, driven by growth and replacement needs. Additionally, it outlines how manufacturing took a heavy hit during the recession, with durable goods industries like furniture and transportation equipment seeing the largest losses.
DCR Trendline October 2013 – Contingent Worker Forecast and Supply Reportss
This document provides a summary of the fourth quarter 2013 issue of TrendLine, a contingent worker forecast and supply report. It highlights several key trends in the temporary staffing industry, including an expected surge in demand for temporary workers over the holiday season driving increased employment numbers and wages. Articles examine research showing temporary work can increase job satisfaction and an update on OSHA's initiative to expand protections for temporary workers. It also analyzes the declining US labor force participation rate and its impact, such as potentially hiding the effects of discouraged workers no longer counted in unemployment rates.
Lehigh Valley Job & Labor Market Outlook - AugustDon Stewart
This document provides an employment snapshot and overview of the job and labor market for the Lehigh Valley region in Pennsylvania. Some key points:
- The preliminary seasonally adjusted unemployment rate for the Allentown-Bethlehem-Easton metro area was flat at 5.9% in July 2014.
- Total employment in the metro area is up 2,400 over the past year, though jobs dropped by 400. Growth sectors include transportation and warehousing while healthcare declined.
- The document outlines trends in in-demand industries and occupations as well as largest employers in the region and their current job openings. It provides resources for further information on the local job market.
ADJUSTING TO THE CHANGING MARKET
Good News!
Employment numbers revised upward for July and August in the Bureau of Labor Statistic reports and a robust report for September clearly indicate
UK economy is showing signs of posting a strong pull-back. China on the other hand is facing the prospects of a slower growth this year. We cover this in the section on *Global Trends* in this month’s issue of Economy Matters.
In the section on *Domestic Trends*, we discuss the trends emanating out of the recent releases on GDP, Balance of Payments, IIP and Inflation during the month of February 2014.
In *Investment Tracker*, we analyse the latest data on investment proposals.
The *Sectoral* spotlight for this issue is on Travel & Tourism, which holds strategic importance in the Indian economy providing several socio economic benefits.
In *Focus of the Month*, we discuss the employment creation challenge that the economy is facing currently. In addition to our own analysis, we have carried articles from eminent experts on the subject.
- The employment landscape is changing as job numbers have been revised upward and the September jobs report showed strong growth.
- The market is becoming more candidate-driven, so companies need to revise hiring strategies to attract candidates, such as considering less experience for roles if it is not essential.
- Using contract staffing/temporary workers is becoming a more viable option, as it allows companies to meet changing staffing needs in a cost-effective way while providing work for candidates. Contract workers are no longer viewed as just secondary employees and many companies expect 50% of their workforce to be contingent hires by 2020.
Quarterly Economic Trends for Ohio Oil and Gas Industries - April 2014Marcellus Drilling News
A quarterly report issued by Ohio's Dept. of Jobs and Family Services issues a report on how the Ohio shale industry is faring with respect economic impacts and the number of jobs. The April 2014 edition of that report shows in the two years from Q3 2011 to Q3 2013 core shale-related industry employment (like pipeline construction and well drilling) was up 5,763 (79.0 percent). Employees in core jobs had an average wage of $71,661.
Michigan’s top economic leaders today issued a series of findings that forecast the state’s readiness to fill high-paying, high-demand jobs with educated and skilled workers.
And, while data show the state is generally prepared to meet the demand for high-wage jobs over the next three years, the ability to meet demand over the long-term is less certain.
1) The document summarizes US employment figures for March 2014, which showed solid job growth of 192,000 new jobs added and the unemployment rate remaining unchanged at 6.7%.
2) Gains were broad-based across multiple sectors such as professional services, retail, food services, and construction. Private sector employment surpassed pre-recession levels.
3) The steady job growth in March suggests the US labor market was less negatively impacted by winter weather than expected and continues moving slowly in the right direction of recovery.
The document summarizes key findings from the July Bureau of Labor Statistics employment report. It notes that while 162,000 new jobs were added in July and the unemployment rate edged down to 7.4%, many of the new jobs were in lower-paying industries. It also reports that the number of long-term unemployed and marginally attached workers remains high. Overall, the report suggests the job market is not improving rapidly but there was also no clearly negative news that would threaten the Federal Reserve's economic stimulus programs.
Hays 2016 Salary and HR Report in the Gulf CountriesEndri Bahja
The Accountancy & Finance sector saw positive hiring in 2015, particularly in legal and multi-national companies. While salaries remained largely stable, audit professionals saw increases. Half of employees received a salary increase in 2015, most commonly due to individual performance or promotion. Looking to 2016, 60% of employees anticipate changing employers to progress their careers or increase salaries, though many will stay for career progression opportunities. Employers seek experienced regional professionals to strengthen their businesses.
April's employment report showed robust job growth in the U.S. economy, with employers adding 288,000 new jobs during the month. The unemployment rate fell to 6.3%, its lowest point since 2008. Job gains occurred across many industries such as construction, manufacturing, professional services, retail, and education/healthcare. The strong report suggests the U.S. economy may be gaining momentum after slowing during the winter.
Mercer Capital's Value Focus: Professional Services Industry | Mid-Year 2014Mercer Capital
Mercer Capital's Professional Services Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes a macroeconomic trends, industry trends, and guideline public company metrics.
Nurturing the Start-ups – for building economyResurgent India
The document discusses nurturing start-ups to build the Indian economy. It summarizes that MSMEs are a key driver of India's economic growth, providing employment and equitable development. However, MSMEs face challenges accessing financing due to their risk profile. The document calls for enabling policies to provide funding and support to help MSMEs realize their potential and further fuel India's economic growth.
In 2009, Business Leaders for Michigan (BLM)
released the Michigan Turnaround Plan, a plan
on how to make Michigan a Top Ten state for
job, economic and personal income growth.
The Plan was updated in 2012 to identify the
six most distinctive assets Michigan had which
could be leveraged to accelerate growth.
These assets include the state’s engineering
prowess, geographic location, and world-class
higher education institutions, among others.
The 2013 New Michigan Report is the first in
an annual series in which Michigan’s progress
in leveraging its assets into economic growth
will be tracked. Michigan’s performance on
various metrics will be charted over time, and
compared to the results achieved in other
high-performing states.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The April edition looks at the growing talent management software market and employment in the technology sector. We continue our global series on the ASEAN region by looking at talent trends in the Philippines, and also examine which countries around the world are the most worker-friendly. We explain the debate on if the U.S. economy is at full employment, and throw light on the current situation of the economy. Our feature article discusses the usage of talent analytics and delves into some common myths about big data and metrics. Finally, we reveal which industry in the country has the happiest workers.
DCR National Temp Wage Index
Full Employment: Jobs vs. Inflation
Best Practices in Recruiting for 2015
Changes in the Talent Management Software Market
Industry Highlight: Technology Index
The Philippines – Poised For Growth Through BPO
The World’s Most Worker-Friendly Countries
Measure What Matters
The Happiest Industries
DCR TrendLine May 2014 - Temporary Workforce Insightss
Can you believe it’s already the second quarter of the year? As the year continues to speed by, this month’s edition of TrendLine focuses on trends and predictions in the talent management industry, by looking at what’s buzzing in HR tech and examining how crowdsourcing is playing a role in the temporary staffing market. Continuing on the theme of technology, we peek at the IT job market to see how and where demand for professionals is growing. We also look into our crystal ball to give you insights into what the staffing landscape will look like in 2022. And this month, we conclude our series on the BRIC countries, by taking a glance at India and it’s potential for temporary work development. At TrendLine, we’re always focused on what’s trending in anything to do with contingent worker supply and demand, and on that note are really excited to unveil a new quarterly topic – What’s Trending in the Temp Market? – that consolidates our research into a short list of critical trends in key talent sectors of the staffing industry. Take a look and let us know what you think!
DCR TrendLine September 2014 - Non Employee Workforce Insightss
This document provides a summary of the September issue of the DCR TrendLine publication. It discusses several topics covered in the issue, including workplace flexibility in the US, a projected global labor shortage, fast growing metro areas for contingent workers, and tips for engaging Generation Z employees. The last article discusses how HR can be organized to meet global objectives while still taking local actions. The publication aims to provide insights into industry trends through in-depth research.
DCR TrendLine June 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. Our June edition covers a wide range of topics, including hiring plans for small- and mid-sized businesses and contingent workforce demographic trends. Since June is the month of graduations, we take a look at how job prospects are for the class of 2014. This month’s edition focuses on the manufacturing industry, highlighting trends in the sector and sharing insight into wages. We discuss how temporary employment has become a norm not only in the U.S. labor market, but internationally as well. Our feature article this month focuses on an issue that arises when employing temporary workers – compliance – and provides ideas on how to overcome this challenge to ensure peace of mind.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The May edition looks at wage growth in the United States and employment in the automobile manufacturing sector. We continue our global series on the ASEAN region by looking at the impact on oil prices on Malaysia’s economy. We uncover why recent indexes have been rating the U.S. economy as disappointing. Our feature article discusses the definition of innovation and provides information on how companies can get started on incorporate innovation into their organizations. Finally, we examine how the talent acquisition sector has been disrupted by changes in the way employers access and engage with talent.
DCR National Temp Wage Index
U.S. Economy: Disappointing..?
Wage Growth Across The U.S.
Industry Highlight: Automobile Manufacturing Index
What Do Millennials Want?
Malaysia: Oil Prices Pose Threat to Economy
Innovation as Usual
Recruiting Disrupted,.
DCR TrendLine July 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The July edition covers a range of topics, including the latest employment figures from the Bureau of Labor Statistics and the growing utilization of temporary workers across multiple industries. This month’s edition focuses on the Information Technology (IT) industry, highlight trends in the sector and sharing insight into employment and wages. We examine the skill gap in the industry and discuss how companies are attempting to bridge it. We also highlight how predictive analytics are being applied in human resource management and which talent acquisition metrics companies should be tracking. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at the challenges companies often face, and offer tips on keeping CW programs running smoothly.
DCR TrendLine shares analyses of trends and happenings in the non-employee workforce industry. The June edition looks at the impact of oil prices on employment in the oil and gas industry and trends in talent management. We continue our global series on the ASEAN region by looking at Indonesia’s slowing economy. This month also features our quarterly topic “What’s Trending in the Temp Market.” We also discuss job prospects for the graduating class of 2015. Our feature article hones in on the need for simplicity in the workforce, and provides some ways to get started. Finally, we examine the long-term economic impact of the devastating earthquakes experienced by Nepal recently
DCR National Temp Wage Index
Employment Prospects for 2015 Grads
Indonesia’s Slowing Economy and Workforce Challenges
What’s Trending in the Temp Market – Q2 of 2015
Industry Highlight: Oil and Gas Index
4 Talent Management Trends
Simplicity is the Ultimate Sophistication
Nepal Earthquake: The Long-Term Economic Impact
DCR TrendLine February 2014 – Contingent Worker Forecast and Supply Reportss
It’s hard to believe that 2014 is already well underway. In the second month of the year, the staff at TrendLine was hard at work to provide you with key insights into the temporary staffing industry. With thorough research and in-depth analysis of data, we aim to supply you with a pulse of the temporary staffing market. As usual, our articles this month uncover trends in the industry and give you hard, actionable information on contingent workforce supply and demand.
The document discusses strategies for employee retention, specifically career development programs. It notes that while salary increases are modest, advancement opportunities are a key reason employees change jobs. It recommends companies focus on mentoring, training, and clear career paths to retain top talent as this allows employees to take on more responsibility and earn higher pay over the long run. Specific tips provided include brainstorming career path programs, discussing mobility during hiring, and promoting success stories to attract candidates.
DCR Trendline December 2014 Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The December issue looks to the future to provide predictions for HR in the next decade, and follows-up on our predictions of workforce trends in 2014. We’re also exploring the dynamics of the candidate-driven recruiting market, the top cities for a positive work-life balance, and the difference between talent networks and talent communities. Our industry focus this month is on aerospace employment and workforce challenges.
The DCR TrendLine editorial staff would like to extend our wishes for a happy holiday season with continued peace, joy, and success in 2014!
Visit the DCR TrendLine website at trendline.dcrworkforce.com to easily access all of our current and previous articles, and view comprehensive charts of real-time trends.
6 Recruitment Trends You Can't Ignore in 2015Tam Nguyen
The document discusses 6 recruitment trends that employers cannot ignore in 2015:
1. Focus on employee retention by identifying unhappy workers and top performers who may leave, and finding ways to keep employees satisfied and engaged.
2. Offer competitive wages to attract and retain talent, as compensation is a key factor in job satisfaction.
3. Develop a compelling employer brand through online and social media platforms to enhance your company's image for prospective employees.
4. Prepare for generational shifts as more baby boomers retire and millennials enter the workforce, which will impact hiring and training needs.
5. Plan for a growing gig workforce as more Americans take on freelance and contract work.
6. Solidify a mobile recruitment strategy
The document provides predictions for HR trends in 2022. Key points include:
1) The economy and job market are expected to grow strongly despite a constrained labor force, exacerbating existing skills shortages and talent constraints for companies.
2) Hybrid work models will continue to evolve, and the emerging metaverse may transform virtual collaboration, meetings, and training.
3) Learning, skills development, and career pathways will become increasingly important priorities for companies to reskill and upskill their workforce in a tight labor market.
The document discusses how the executive, managerial, and professional job market continues to be candidate-driven due to increased job opportunities and talent shortages. Top performers have an advantage with multiple job offers to consider, allowing them to reject less desirable positions. However, retention is challenging for companies as talented candidates feel more confident changing jobs due to lengthy hiring processes and uncompetitive salaries at some employers. Unless companies improve their recruitment and retention strategies, they will struggle to attract and keep top talent in this favorable environment for candidates.
This report will give you an insight into how these, and much more local factors, have affected salaries and prospects for the future across all the specialisms Badenoch & Clark supports recruitment in. We’ve highlighted some of the most important trends and findings and there’s a wealth of richer and deeper insight into each of the areas in which we operate across our regional bases.
This document provides a summary of recruitment trends in the UK based on a survey conducted by Barclay Meade. Some key findings include:
- Nearly half of employers are recruiting at similar or higher levels than before the recession, while about a third still have recruitment freezes. Sales, marketing, and skilled roles are in high demand.
- The financial services sector has recovered strongly, with 94% recruiting at pre-recession levels. Manufacturing recruitment is more cautious.
- Public sector cuts are expected to most negatively impact recruitment in the North East and North West regions, which rely more on public sector jobs. The upcoming VAT increase is also a key concern nationally.
- Employers rely heavily on word-of-
Report Q1 Addressing the Recruitment Power Balance in 2015BMSRecruitment
The document summarizes key findings from the BMS Quarterly Sales Index report. It finds that 2014 was a candidate-driven market with high demand for sales talent outstripping supply. Sales vacancies grew 19.2% since 2013 and competition for candidates was fierce. Many businesses struggled to fill vacancies and nearly half lost revenue because of a lack of sales coverage. Looking to 2015, recruitment is expected to remain challenging as candidates maintain strong bargaining power and salaries continue rising in the competitive environment. Firms will need to focus on efficient recruitment strategies like shortening hiring processes to attract top talent.
The document discusses the pensions shortfall in the UK and how current contribution levels through auto-enrollment will not be enough for many people to achieve the target pension pots of £200,000-£250,000 by retirement. It notes that contributions may need to increase to 12.5% to help address this gap. However, increasing employer contributions could put pressure on businesses and require reviewing other costs. The article advocates for financial education programs to empower employees to make better savings decisions over their careers.
This document is the 9th annual salary guide for 2015 from Circle Square Talent Limited for the accountancy and finance sector in London and the Home Counties. It provides predictions for 2015 including strong pay growth, political uncertainty dampening demand, and interest rates rising. It also notes a tight labor market fueling wage inflation. The document serves as a guide to current permanent and contract salary bands, temp pay rates, and interim day rates for accountancy professionals.
CII's monthly journal on economic affairs for the month of March 2014. The wave of easy liquidity from US is ebbing, with the Federal Reserve having embarked on the much-discussed QE-tapering. Global Trends section covers this story.
In the section on Domestic Trends, the trends emanating out of the recent releases on IIP, Inflation. Monetary Policy, Fiscal & Trade Scenario are discussed.
In Corporate Performance, we analyse the latest data for 3QFY14.
The Sectoral spotlight for this issue is on Business of Sports.
In Focus of the Month, we discuss the important issue of ‘Growth & Employment’, which goes with CII’s theme for the current year.
The document discusses trends in the UK pensions industry labor market based on surveys. It finds:
- Hiring intentions remain resilient as most employers plan to increase or maintain headcounts despite some economic uncertainty.
- Employees are increasingly changing roles for career progression or higher pay as the market remains buoyant with opportunities.
- Salary remains the top motivation for changing roles, though benefits like flexibility and bonuses are also highly valued.
- Skills shortages exist, especially for experienced candidates, creating upward pressure on salaries in some in-demand fields like technology.
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This solution spotlight utilizes Ardent Partners longstanding contingent workforce management ("CWM") technology and best practices research and combines it with Ardent's perspective on the Vendor Management System(VMS) marketplace and recent market conducted on the same topics.The first half of this report highlights the evolution of the non-employee workforce industry,while the second half focuses on a deep profile of solution provider DCR Workforce.
DCR Trendline December 2013 – Contingent Worker Forecast and Supply Reportss
Welcome to the final month of 2013! The staff at TrendLine is pleased to be wrapping up our first full year of publication. It’s been an exciting year in the world of the contingent workforce. In our last issue of 2013 we once again provide you with key insights into the temporary staffing industry. Our thorough research into pivotal trends and current events, along with our in-depth analysis of contingent worker supply and demand, is designed to give you a pulse of the market.
Inside This Issue:
- DCR National Temp Wage Index
- Post Shutdown Impact and Recovery
- OSHA Asked to Further Improve Temp Worker Protections
- TrendLine in 2013
- A Look Back at 2013: Sector By Sector
DCR Trendline November 2013 – Contingent Worker Forecast and Supply Reportss
Heading into the end of the year, after a month full of economic uncertainty and fogginess, TrendLine brings you key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what is happening in the world of contingent worker supply and demand.
Inside this issue:
1. DCR National Temp Wage Index
2. The Government Shutdown: A Crisis for Federal Workers
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6. World Watch
The mobile workforce has become 'business as usual'. In order to get the most value from your talent base, you need to ensure that your workers stay connected regardless of where business takes them. Smart Track is always on, from anywhere, at any time. Users can conduct all transactions - from requirements creation to worker offboarding - using any device, from any location offering an Internet connection.
DCR Trendline August 2013 – Contingent Worker Forecast and Supply Reportss
Each month, DCR Workforce brings you greater insight into the temporary staffing market. The Trendline Report, offered to you at no charge, provides original research and cutting-edge analysis of contingent worker demand and supply, and predictive forecasts of wage trends. We provide the context you need to set the course for what happens next.
Inside This Issue:
DCR National Temp Wage Index
The Temp Workforce: Multiple Angles
What’s Driving the Temporary Workforce?
Temporary Jobs: Hiring is On
VMS and MSP Hit a Plateau
Mission 2015: Buyers – Get Ready, ACA Ahead
The safety, health, and well-being of the workforce must be a high priority in any company’s daily operations. U.S. companies spend $170 billion a year on costs associated with injuries and illnesses sustained on the job, including more than $40 billion a year in worker’s compensation benefits. DCR Workforce helps to reduce these costs by incorporating robust workforce safety protection programs into each of our clients’ contingent workforce management solutions.
The contingent workforce landscape is changing. As the use of temporary workers continues to grow, their impact on your business increases. Program quality, traditionally defined by the speed and cost of using agency contractors, now also addresses the value that an extended workforce can bring to your organization. Smart Track translates volumes of data that you generate each day into the valuable insights you need to drive performance.
Through Smart Track, DCR offers a big data solution - a single platform for viewing and manipulating transactional and interactional data from different areas of your company to evaluate the impact of temporary talent on your overall performance.
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The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
White Paper: Complying With Regulations Regarding Temporary Workersss
The use of temporary workers is growing in the United States, now representing 22% of the total workforce. Temporary workers are referred to as freelancers, non-employees, indirect workers, agency contractors, consultants, interns, independent contractors, and many other terms.
Inside This Issue:
DCR National Temp Wage Index
I-Squared: Spoiling or Saving the U.S. Economy?
Economic Recovery brings Optimism to Temp Employment
Unemployment Crisis: Unearthing the Facts Behind Official Claims
Public or Private: Which Type of Job to Opt for?
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2. It’s hard to believe that 2015 is already well underway. The staff at DCR TrendLine has been hard at work to provide you with key insights into the non-employee workforce
market. With thorough research and in-depth analysis of data, we aim to give you a pulse of the staffing market. As usual, our articles this month uncover trends in the
industry and provide you with hard, actionable information on non-employee workforce supply and demand.
The DCR National Temp Wage Index focuses on wage trends over the year, analyzing the use of non-employee workers and tracking related developments in the economy.
This month, we examine the employment figures from the end of 2014 and highlight temp worker demand for the upcoming year.
The topic of minimum wage was largely debated in 2014. At the beginning of this year, the minimum wage rose in 20 states and the District of Columbia. We take a look at
what minimum wage will be across the country in 2015 based on legislation that has recently passed.
Last month we looked at the employment prospects for 2015 college graduates. We follow-up on this subject this month by comparing the expectations and realities of the
working world for new graduates.
Our industry highlight for February focuses on the real estate sector. The DCR TrendLine Real Estate Employment Index provides an overview of employment trends in the
industry. We also discuss the job outlook and wages for real estate agents, a major occupational category within this market.
The Euro currency hit an 11-year low recently, which prompted us to check in on the labor market in Europe. Our analysis primarily focuses on Germany, France, Italy, and
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Last year we launched a new quarterly topic –“What’s Trending in the Temp Market”– that consolidates our research into a short list of critical trends in key talent sectors of
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Our feature article this month hones in on a topic that is of significant concern to talent acquisition leaders – talent brand. Numerous studies show that the perception
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take to improve their talent brand.
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workers gives rise to several important questions that executives must ask. We provide examples of some of these questions, and explain why they are important.
Ammu Warrier
Ammu Warrier, President
“
NOTE FROM THE EDITOR
INSIDE THIS ISSUE “2014 will be remembered as the year that the
US went back to work. The big question for 2015
is whether this job growth leads to a significant
increase in salaries.Will this year be remembered
as the time when Americans finally started to
feel like the recovery was having a meaningful
impact on their lives?”~Joseph Lake, U.S. Analyst
for The Economist Intelligence Unit
1
Note from the Editor...............................................................................................................................................page 1
DCR National Temp Wage Index.........................................................................................................................page 2
Minimum Wage in 2015........................................................................................................................................page 7
Expectations vs. Realities for New Grads........................................................................................................page 9
Industry Highlight: Real Estate Index...............................................................................................................page 12
Checking in on the European Labor Market,..................................................................................................page 17
What’s Trending in the Temp Market – Q1 of 2015.....................................................................................page 22
Perception is Everything......................................................................................................................................page 23
Questions That Arise From Non-Employee Workforce Growth..............................................................page 28
2015 College Grad Prospects............................................................................................................................page 26
Methodology........................................................................................................................................................... page 30
References................................................................................................................................................................page 31
About DCR.................................................................................................................................................................page 32
3. According to the latest numbers released by the U.S. Bureau of Labor Statistics (BLS), the number of temporary help services jobs rose by 14,700. In December 2014, the
United States added 252,000 nonfarm jobs, and the unemployment rate fell to 5.6 percent from the month before. The largest gains were in professional and business
services with 52,000 jobs added, construction with 48,000 jobs added, food services and drinking establishments with 44,000 jobs added, health care with 34,000 jobs
added, and manufacturing with 17,000 jobs added.
Over 2014, job growth averaged 246,000 per month, up from the average monthly gain of 194,000 in 2013.The professional and business services sector was responsible for
24.8 percent or 732,000 of total jobs created, outpacing the next highest sector – trade, transportation and utilities – by 225,000 jobs. Within the professional and business
services sector, the biggest increase was in temporary services, making up 29.5 percent of jobs created in the sector.
“
DCR NATIONAL TEMP WAGE INDEX
“The job market continues to power forward. Businesses across all industries and sizes are adding to payrolls. At the current pace of job
growth, the economy will be back to full employment by this time next year.”~Mark Zandi, Chief Economist at Moody’s Analytics
2
4. DCR NATIONAL TEMP WAGE INDEX
3
2014 Employment in Review
“Source: BLS
“The economy generated 252,000 new jobs in December, and the gains for November and October were revised up.These strong gains
are likely to continue to boost consumer spending in 2014. The continued drop in the unemployment rate, to 5.6 percent in December,
puts us within striking distance of the natural rate of 5.5 percent.”~The Conference Board
5. DCR NATIONAL TEMP WAGE INDEX
“
4
While the job figures reveal that the economy was trending upwards in 2014, wages actually declined in December 2014 compared to the previous
month. Average hourly earnings fell by 5 cents to $24.57 in December, after gaining 6 cents in November. Over the year, average hourly earnings rose by
1.7 percent.
CareerBuilder’s Annual Job Forecast for 2015 finds that 82 percent of employers surveyed plan to increase compensation for existing employees, while 64
percent plan to offer higher starting salaries for new employees.
“Eventually a healthier labor market should translate into decent wage growth. The question is, when will
workers start seeing the decent economic news reflected in their paychecks?” ~Elise Gould, Senior Economist at
The Economic Policy Institute
According to CareerBuilder’s job forecast for 2015, 46 percent of employers plan to hire temporary or contract workers in 2015, up from 42 percent
the year before. Additionally, 56 percent of employers hiring temporary workers expect to transition some of these workers into full-time, permanent
employees. The survey reveals that hiring for science, technology, engineering, and math occupations will be strong with 31 percent of hiring managers
planning to create jobs in this area in 2015.
Top Areas for Hiring
Health Care Industry On the Rise
EMPLOYMENT’S UP, BUT PAYCHECKS ARE NOT
MORE TEMP JOBS EXPECTED IN 2015
6. 5
DCR NATIONAL TEMP WAGE INDEX
HEALTH CARE INDUSTRY ON THE RISE
CareerBuilder’s recently released Health Care Forecast reveals that 35 percent of health care hiring managers plan to add full-time, permanent health care
employees in 2015, and 80 percent plan to increase wages for current employees.
Nearly half of the health care employers surveyed (47 percent) plan to hire temporary or contract workers in 2015. Almost half of employers say they are
“likely”or“very likely”to rehire retirees in 2015.
Despite the plans to hire more workers, finding qualified candidates might be a challenge. Approximately 54 percent of health care employers believe that
there is a significant gap between the skills they need and the skills that candidates have, and 46 percent have open positions for which they cannot find
candidates. Nearly half of the employers (48 percent) have job vacancies that stay open for 12 weeks or longer. Approximately two-thirds of employers
plan to hire recent college graduates this year, and 47 percent plan to hire interns.
“
“With more people gaining access to medical benefits and an aging population who will need more medical
attention in the coming years, health care organizations are gearing up now to accommodate these populations
and provide the best quality care. In certain areas, however, demand for high quality candidates is higher than the
available supply, forcing health care employers to rethink how they retain top employees along with attracting new,
highly qualified workers.”~Eric Gilpin, President of CareerBuilder Healthcare.
7. DCR NATIONAL TEMP WAGE INDEX
The gap in employment rates between the country’s highest- and lowest-income families is at its widest level in ten years. Rates of unemployment for the
lowest-income families (earning less than $20,000) are at 21 percent. U.S. households with an income of over $150,000 annually have an unemployment
rate of 3.2 percent.
6
THE DISTANCE BETWEEN RICH AND POOR AT ITS WIDEST
“The people at the bottom are going to be continually squeezed, and I don’t see this ending anytime soon. If the
economy were growing enough or unions were stronger, it would be possible for the less educated to do better and
for the lower income to improve. But in our current world, where we are still adjusting to globalization, that is not
very likely to happen.”~Richard Freeman, Economist at Harvard University
8. 7
MINIMUM WAGE IN 2015
On January 1st, 2015, the minimum wage rose in 20 states and the District of Columbia, as laws and automatic adjustments were made with the start of
the new year.
What Minimum Wage Will Look Like in 2015
Source: National Conference of State Legislatures
In nine states, the wage hike was an adjustment made to keep the minimum wage in line with rising inflation. However, in 11 states and D.C., the
increase is a result of legislative action or voter-approved referenda. Two more states – Delaware and Minnesota – will have wage hikes later in 2015,
and New York raised its minimum wage on December 31st, 2014. Currently, 29 states will have minimum wages above the federal minimum of $7.25.
According to the Economic Policy Institute, the minimum wage hikes are expected to have a direct impact for nearly 2.3 million workers.
The state with the highest minimum wage in 2015 – besides Washington D.C., with an 11 percent change to $10.50 – is Washington at $9.47.
9. MINIMUM WAGE IN 2015
8
U.S. States with a Minimum Wage Increase in 2015
Source: Quartz
10. EXPECTATIONS VS. REALITIES FOR NEW GRADS
9
The recently released 2014 College Graduate Employment Survey by Accenture compares the expectations and perceptions of 2014’s college
graduates with the realities of the workplace experienced by both 2012 and 2013 graduates.
Recent graduates report that they are underemployed and working in jobs that do not require the degree that they hold. However, for 2015,
employers expect to hire 8.3 percent more new college graduates than they did from the Class of 2014, according to a report from the National
Association of Colleges and Employers.
Expectations vs. Realities for Grads
Source: Accenture
11. 10
EXPECTATIONS VS. REALITIES FOR NEW GRADS
Approximately 80 percent of 2014 grads expect that their employer will provide a formal training program, but the percentage of graduates actually
receiving training is low. Only 48 percent of new college graduates in the workforce received formal training in their first job.
Nearly half (46 percent) of recent college graduates working today report that they are significantly underemployed (meaning that their jobs do not
depend on their college degree). While 84 percent of 2014 graduates believe that they will find employment in their chosen field, only 46 percent of
2012/2013 grads report holding a full-time job, and 13 percent have been unemployed since graduating. According to the Economic Policy Institute,
underemployment is at 16.8 percent for workers younger than 25 as of May 2014.
Furthermore, more than half of recent college graduates have already left their first jobs or expect to leave within one or two years.
According to the 2013 Accenture survey, 43 percent of respondents expect to earn more than $40,000 per year in their first job. However, only 21
percent of the 2012 and 2013 graduates are actually earning at that level. Over a quarter (26 percent) of these graduates report earning less than
$19,000 annually.
Meanwhile, 28 percent of recent graduates will owe more than $30,000 in debt. More than one-third (42 percent) of 2012 and 2013 graduates live at
home after graduation.
Graduates and recent hires are doing research while still in college, and trying to make themselves more market relevant. Approximately
three-quarters of those graduating in 2014 took into account the availability of jobs in their field before deciding on their major.
A Job Outlook 2015 report by the National Association of Colleges and Employers found that at the bachelor’s degree level, graduates in the business,
engineering, and computer/information science fields are most sought after by employers.
Similarly, universities are helping graduates by adapting their curricula to provide the education that graduates will need for their chosen career.
Universities are also providing job search and recruiting assistance to graduates and alumni as well. Approximately 63 percent of 2014’s graduating
students believe that their university was effective in helping them to find employment opportunities.
Recent graduates are willing to be flexible, with 74 percent saying that they would be willing to relocate to another state to find work.
Recent research by the Harvard Business Review indicates that while demand is growing for middle-skill (those that require more education and
training than a high school diploma, but less than a four-year college degree) workers, the U.S. educational system is producing fewer graduates at
this level.
ON-THE-JOB TRAINING
UNDEREMPLOYMENT
WAGES
ADAPTING TO THE MARKET
12. 11
EXPECTATIONS VS. REALITIES FOR NEW GRADS
ADAPTING TO THE MARKET
Projected Job Openings vs. Degrees & Certificates Granted
Source: HBR
13. “
STATE OF THE 2015 REAL ESTATE MARKET
Experts say that in 2015, real estate markets across the country will return to a state of balance. Stan Humphries, chief economist for Zillow.com,
expects that home value growth will slow to around 3 percent per year, and negotiating power will move back to buyers and away from sellers. CoreLogic
predicts that home sales will increase by 9 percent in 2015. Home prices are expected to grow by 4.5 percent nationwide.
Foreign investors will still find high-end American real estate appealing due to the economic turbulence in their home countries. Buyers from outside
the U.S. may use their properties as a rental, a secondary residence used for travel, or a residence for children studying at American universities.
For years, many millennials postponed homeownership in favor of renting, but that might change in 2015 as a growing number of Gen Y-ers start
families and seek more stability. Baby boomers are also more likely to move in 2015, downsizing their homes as they retire or moving closer to children
and grandchildren.
As the housing sector recovers, prices in many markets across the country have risen. RealityTrac reported that the median sales price of U.S.
single-family homes and condos in October 2014 had reached its highest level since September 2008.
“The growth expected in 2015 is widespread, but as we put together our forecast, ten
local markets stood out as especially primed and ready for significant accelerations
across housing metrics in 2015. The markets on this list range from big cities with
older housing stock, big and mid-size cities with substantial levels of new
construction, and up and coming markets appealing to young professionals for their
job growth and high affordability. Los Angeles and Washington D.C., were selected
for their anticipated increases in home sales and household formation. While Des
Moines, Iowa may seem like an odd addition, it’s incredibly high affordability and
high levels of home ownership among millennials set the stage for strong housing
performance next year.”~Jonathan Smoke, Chief Economist at Realtor.com
INDUSTRY HIGHLIGHT: REAL ESTATE INDEX
12
14. STATE OF THE 2015 REAL ESTATE MARKET
INDUSTRY HIGHLIGHT: REAL ESTATE INDEX
13
Top 10 Housing Markets for Growth in 2015
Source: Realtor.com
- 11% growth in home sales
- 5% growth in home prices
- 7% growth in home sales
- 3% growth in home prices
- 14% growth in home sales
- 3% growth in home prices
- 9% growth in home sales - 5% growth in home sales
- 2% growth in home prices
- 10% growth in home sales
- 3% growth in home prices
- 3% growth in home sales
- 2% growth in home prices
- 11% growth in home sales
- 3% growth in home prices
- 9% growth in home sales- 6% growth in home sales
- 7% growth in home prices
15. EMPLOYMENT IN THE REAL ESTATE INDUSTRY
INDUSTRY HIGHLIGHT: REAL ESTATE INDEX
DCR TrendLine Real Estate Employment Index
14
Real estate agents buy, sell or rent properties
on behalf of their clients. They require a deep
knowledge of the market and of the
communities in their area, so they can advise
their clients on matters ranging from how to
accurately price their home to when is the right
moment to invest in a new one.
The terms ‘real estate agent’ and ‘real estate
broker’ are often used interchangeably. The main
difference between the two is that brokers are
licensed to manage their own businesses, while
agents are not. Agents may work under brokers,
but their jobs are similar.
The Bureau of Labor Statistics (BLS) projects
11.1 percent job growth for real estate agents
between 2012 and 2022, with an addition of
38,000 jobs. This, combined with a relatively
low unemployment rate and upward turn of the
housing market, provides a solid and positive
outlook for the occupation.
““It’s so much more than sales. As opposed to
selling stocks or insurance, there’s an emotional
side to real estate that can be very rewarding.”
~Jason Townsend, Managing Broker of Capital
Community Properties
16. EMPLOYMENT IN THE REAL ESTATE INDUSTRY
INDUSTRY HIGHLIGHT: REAL ESTATE INDEX
15
Source: PwC
Multifamily developers
Insurance company
real estate lenders
Homebuilders / residential
land developers
Architects / desginers
Real estate consultants
Commercial bank real estate
lenders
CMBS lenders / issuers
Abysmal Poor Fair Good Excellent Abysmal Poor Fair Good Excellent
Real estate brokers
Private local
real estate owners
Real estate
investment managers
Commercial developers
REITs
Real Estate Business Prospects
17. SALARIES
INDUSTRY HIGHLIGHT: REAL ESTATE INDEX
16
According to BLS, real estate agents earned a median salary of $39,800 in 2013. The highest salaries were around $98,090, while the lowest-paid earned
approximately $21,240. The highest earners worked in the metropolitan areas of Lake County, Illinois; New York City; and Ocean City, New Jersey.
Annual Mean Wage of Real Estate Agents by State, May 2013
Source: BLS
18. 1717
CHECKING IN ON THE EUROPEAN LABOR MARKET
In 1997, the European Union (EU) held its first summit on growth and jobs, and EU unemployment was 11 percent. Since then, not much has
changed – unemployment in the Eurozone was 11.5 percent in November 2014, up from a low of 6.8 percent in the first quarter of 2008. Eurostat, the EU
statistics agency, estimates that 184 million people were out of work in the euro currency area, which then consisted of 18 member states. In the wider
28-country European Union, the unemployment rate dropped to 10 percent in November 2014, or 24.4 million unemployed people. The highest rates
were recorded in Greece and Spain, while the lowest were in Austria and Germany.
Of particular concern is youth unemployment. In the EU as a whole, youth unemployment stood at 21.9 percent in November. According to one study,
this costs the EU approximately 150 billion euros per year in lost wages and spending. Sweden, which has one of the EU’s highest employment rates, has
a youth unemployment rate of 23 percent. And in Spain and Greece, youth unemployment is above 50 percent.
“
“In November 2014, 5.101 million young persons (under 25) were unemployed in the EU28 of whom 3.409
million were in the euro area. Compared with November 2013, youth unemployment decreased by 354,000 in
the EU28 and 58,00 in the euro area. In November 2014, the youth unemployment rate was 21.9% in the EU28
and 23.7% in the euro area.”~Eurostat
The Euro has also recently dropped
tobelow$1.1789,thepriceatwhich
it started when the currency was
introduced in 1999. Policymakers at
the EU’s central bank are debating
plans for 500 billion euro in
possible government bond
purchases, which many believe is
necessary to break Europe out of its
ongoing economic stagnation.
Youth Unemployment in Europe, May 2014
Source: Statista
19. CHECKING IN ON THE EUROPEAN LABOR MARKET
18
In Germany, unemployment
fell to a record low in 6.4
percent in December from
6.5 percent in November.
Economists say this signals
that growth in Europe’s
largest economy will accelerate
in 2015. According to the
Federal Labor Agency in
Nuremberg, the number of
people out of work fell 27,000
in December to 2.841 million.
GERMANY
““Germany’sbuoyantlabor
market continues to be a
reliable driver of growth.
The tightness of the labor
market backs household
confidence and supports
wage growth and thus
private consumption.”
Germany: Permanent and Temporary Employment
German Employment
20. 19
CHECKING IN ON THE EUROPEAN LABOR MARKET
According to the latest figures from Prism’Emploi, the French Association of Employment Agencies, temporary employment across France
decreased by 2.7 percent in November 2014, compared to a year ago.
This decrease is attributed to a drop in the number of skilled blue-collar workers in the country. In contrast, there has been an increase in the
number of white-collar workers by 3.2 percent, unskilled blue-collar workers by 5.6 percent, and managers and executives by 6.9 percent.
Employment in France
FRANCE
21. CHECKING IN ON THE EUROPEAN LABOR MARKET
Italy’s unemployment recently rose to a record high of 13.4 percent. Meanwhile youth unemployment jumped to 43.9 percent in November 2014 from
43.3 percent in the month before.
At the end of December, the Italian cabinet approved parts of a labor bill that is intended to revolutionize the country’s labor market and encourage
foreign investors. The legislation, known as the Jobs Act, is expected to ease restrictions that make it difficult to dismiss employees, extend the duration
of jobless benefits, and introduce a new type of contract that would offer compensation when a worker is dismissed. The Jobs Act is also intended to give
rising levels of labor protection to people hired on open-ended permanent contracts. The Italian Prime Minister Matteo Renzi says that the labor law will
encourage firms to hire new staff and help combat unemployment.
Employment in Italy
20
ITALY
22. 21
CHECKING IN ON THE EUROPEAN LABOR MARKET
According to the Hays Global Skills Index, the lack of flexibility in the Belgian labor market and education system indicates that the country’s economy is
in danger of stagnation. The report states that Belgium has a serious problem in maintaining high-skilled jobs and talent in the country, which leads to a
brain drain.
According to Wilfrid de Brouwer, the Managing Director of Hays Belgium, the Belgian government took preventative cost measures to protect the Belgian
GDP and labor market during the recession, which has left the country’s revival weaker compared to other European countries.
“These preventive decisions made the unemployment rate much lower compared to the European average but resulted in a smaller
candidate pool, which is only partially covered by the hiring of young foreign potentials.” ~Wilfrid de Brouwer, Managing Director
of Hays Belgium
Employment in Belgium
BELGIUM
“
23. Baby boomers are approaching
retirement, and many of them hold key
positions at their companies. These
companies are starting to actively
look into succession planningto fill these
roles with talent within their organization,
either from their full-time permanent
employeebaseorfromtheirnon-employee
workforce. Companies are also concerned
with knowledge management and are
investing in development programs for
junior workers to ensure that knowledge
is passed on and kept within the company.
The rise of the non-employee work-
force is creating a thick layer of staffing
providers and managed service providers
between workers and companies. The
use of non-employees offers employers
greater efficiency and flexibility, but labor
analysts say that it sometimes leads to
lower wages and fewer benefits for work-
ers. This results in the affected temporary
workers’ being drawn to organized
unionization efforts. For example, at
Lionbridge, a provider of business services
to Microsoft Corp., approximately 40
workers have organized a union,
authorized by the National Labor Relations
Board, and are bargaining with Lionbridge
for benefits.
Withthetalentwarintensifying,companies
are having difficulty finding the right talent
with the needed skills to fill job openings.
Many companies are now making the
decision to remove one more obstacle in
the search for talent by broadening their
recruiting efforts geographically. With the
advances in collaboration software, more
employers are willing to engage remote
talent. The amount of companies that
allow their workers to contribute remotely
has been growing steadily, and this
allowscompaniestoexpandtheirrecruiting
radius substantially and to find talent that
is otherwise unavailable to them.
22
“Succession planning is the No. 1 issue. It’s on everyone’s front-burner.”~Leslie Scott, Executive Director of The National Association
of State Personnel Executives
WHAT’S TRENDING IN THE TEMP MARKET – Q1 OF 2015
At DCR TrendLine, we’re always honing in on what’s trending in anything to do with non-employee worker supply and demand. This month, we’re
presenting our quarterly view of pivotal trends in key talent sectors of the staffing industry and human resource management.
#SUCCESSIONPLANNING #UNIONS #REMOTETALENT
“
24. 23
PERCEPTION IS EVERYTHING
As the economy continues to strengthen, recruiting leaders cite competition as a key obstacle to hiring talent. According to LinkedIn’s 2015 US Recruiting Trends report, 53
percent of leaders say that competition for talent is a significant concern. Sourcing highly skilled talent is the highest priority for US and global talent acquisition leaders,
followed by improving quality of hire.
25. 24
PERCEPTION IS EVERYTHING
Over the past four years, the biggest shift in recruiting has been the growth of social networks as a top source of quality hires. Almost half of U.S.
companies cite social professional networks as one of the most important sources of quality hires, followed closely by employee referral programs, and
company career sites.
Source: LinkedIn
Competition as a Top Obstacle to Hiring
27. 26
PERCEPTION IS EVERYTHING
The intensifying war for talent and the growing importance of social networks and referrals lead to a need for companies to carefully consider and examine the perception
potential candidates have of them. American companies this year are planning to prioritize and proactively manage their talent brand. Experts say that a strong talent brand
can reduce cost per hire by up to 50 percent and lower turnover rates by 28 percent. And seven of ten job seekers say that the job and the company are equally important
in deciding whether to accept a position. Finally, 75 percent of talent acquisition leaders say talent brand significantly impacts their ability to hire great talent.
Research by RolePoint finds that companies with a defined talent brand dominate 60 percent of the labor market, and 17 percent of companies with a defined talent
brand saw an increase in their quality of hires. A strategic talent brand sets the tone for recruitment and retention, and a talent brand that involves employee referrals takes
advantage of the employers’key asset – the employee.
Employee referrals have been cited as the number one source for both hiring volume and for new hire quality. Employers also say that it is less expensive to recruit
candidates referred by employees, even after accounting for referral bonuses.
While talent acquisition leaders recognize the importance of managing the perception of their company and their talent brand, many are unable to measure the health
of their brand in a quantitative way. According to LinkedIn, there is an approximately 20 percent gap between the impact and prioritization of talent brand versus the
measurement and funding of it.
Why Do Companies Invest in Talent Brand?
Source: LinkedIn
THE IMPORTANCE OF EMPLOYEE REFERRALS
WHAT EMPLOYERS CAN DO TO IMPROVE THEIR TALENT BRAND
28. 27
PERCEPTION IS EVERYTHING
Companies can close this gap by benchmarking their talent brand budgets against other talent and HR investments to ensure that talent branding is
funded in line with their priorities. Also, leveraging current employees and workers as talent brand ambassadors can be a powerful instrument. Many
companies are creating social and content programs to make candidates aware of the merits they offer as a place to work. In the United States, social
professional networks are the fastest growing channel for promoting talent brand, growing 34 percent year-over-year.
To build successful employee referral programs that improve the perception of the company, employers should reach out to current employees to ask them
for referrals. A study by RolePoint finds that six out of 10 employees would recommend jobs at their company to close friends or family members. Many
companies are electing to include cash and incentive-based rewards in their referral programs.
Source: LinkedIn
Growth of Channels for Promoting Talent Brand
29. 28
QUESTIONS THAT ARISE FROM NON-EMPLOYEE WORKFORCE GROWTH
There’s been much talk recently about the rise of the non-employee worker and on strategizing to win the talent war. Companies have been actively
seeking new ways to find the right talent, and one strategic approach is the growing reliance on contingent labor.
Historically, employers relied on temp labor to fill skill gaps during economic downswings, but when the economy improved, they tended to focus on
building a strong internal workforce of full-time permanent employees. Today, however, even as the economy is improving, companies are increasing their
dependence on contingent labor. Workforce 2020, a study conducted by Oxford Economics, finds that 83 percent of executive managers plan to increase
using non-employee workers on an ongoing basis.
A study by Accenture recently estimated that non-employee workers make up between 20 percent to 33 percent of the workforce in the United States.
These workers are found in all classes of work - from the executive suite to factory line workers - in every industry.
Managing and building this new workforce of non-employee workers requires changing the way companies approach compensation, technology, and
engagement. According to Workforce 2020, approximately one-third of respondents said that increasing their reliance on non-employee labor required
additional investment in training, changes in HR policies, and support for new technology.
Impact of Changing Nature of Workforce
Source: Workforce 2020 & Oxford Economics
30. 29
QUESTIONS THAT ARISE FROM NON-EMPLOYEE WORKFORCE GROWTH
The changes that result from the growth of the non-employee workforce raises many questions. Traditionally, the procurement department was
involved in the contingent labor spend, and they focused on minimizing costs. While labor cost matters to all business leaders, the HR team is important in
incorporating non-employee labor into the overall strategy of the entire workforce. So it becomes vital for both functions to work together and analyze the
data to determine some of the common questions that arise on establishing and managing a strong relationship with non-employee workers.
These questions can include:
Thinking differently about the workforce is only part of the puzzle. Managers must think about considering non-employees for talent pools and other
workforce solutions, while still ensuring regulatory compliance and safeguarding against the leading areas of temporary workforce risk.
• How do we engage this extended pool of talent?
• How do we ensure that we have the right talent working on the right thing at the right time in the right place?
• How do we put a border between full-time employees and non-employees, but still manage and engage both as part of our overall workforce?
• Can we include non-employee workers in performance management?
• How do we include non-employees in our talent pool?
• Can we include non-employee workers in succession planning?
• Does our talent brand include and mean something to non-employee workers?
31. METHODOLOGY
The DCR NationalTempWage Index is developed to assess the relative movements of temporary wage rates in the U.S. economy.The wage
rates for temporary workers or contingent workforce are based on payments made by staffing firms to these workers based upon hours
worked. Data collected from sources such as Bureau of Labor Standards (BLS) and other government sites as well as an internal pool of
staffing companies and consultants, is aggregated and classified based on regions and skill categories, to arrive at an aggregate index.
The baseline for the index is set at 100 for January 2007. Index value for a particular month indicates relative wages with the said baseline
and is representative in terms of direction and scale of change. Five years of data has been included to observe seasonal patterns and
distinguish seasonality from long-term wage movements. The data and the model has been further refined over last six months.
DCR TrendLine combines the exhaustive data from BLS with practical and more recent developments and data from on-field consultants
and clients, to provide timely near-term indications of trends and consistent long-term actionable and objective information.
DCR TrendLine uses multiple economic variables to ensure the robustness of its forecasts and cross-validation of trends.
Key data sources and parameters of interest included and influencing the index are:
Unemployment data
Gross Domestic Product
Prime rate of interest
New and seasonal Job openings
Non Farm employment
Job Openings
All Export
All Import
Average Hourly Earnings of All Employees Total Private
Aggregate consultant data on job market parameters
30
SOURCE DATA