Navigating Employment Trends
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The document provides an overview of current employment trends in the United States based on data from various sources. It summarizes that in September 2015 the US economy added 142,000 new jobs, with the unemployment rate at 5.1%. So far in 2015, 1.8 million new jobs have been added, with sectors like healthcare and professional services seeing significant growth. It also discusses trends in online job postings, top occupations, salaries, and generations in the workforce.
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Navigating Employment Trends
- 2. JOANIE COURTNEY SVP Global Market Insights @joaniecourtney
- 3. “And there is no trade or employment but the young man following it may become a hero.” — Walt Whitman “And there is no trade or employment but the young man following it may become a hero.” — Walt Whitman
- 4. temporary assignment LABOR participation HELP WANTED GIG SKILL FREELANCE WAGES Work/Life BALANCE $ ECONOMY MILLENNIALS BABY BOOMERS shortage S T E M ∑ JOB creation NOW HIRING
- 7. CURRENT EMPLOYMENT SITUATION: SEPTEMBER 2015 PRIVATE SECTOR TOTAL NON-FARM PAYROLL +118,000 GOVERNMENT +24,000 +142,000 UNEMPLOYMENT RATE 5.1% Leisure/hospitality +35K Healthcare +34K Professional/ business services +31K Retail +24K Construction +8K Transportation +4K Manufacturing -9K TEMPORARY HELP +5,000
- 8. POLLING QUESTION How many new jobs has the U.S. added in 2015? A. 750K B. 1.8M C. 3.2M D. Unfortunately, the U.S. hasn’t created any new jobs
- 9. CURRENT EMPLOYMENT SITUATION: YEAR TO DATE PRIVATE SECTOR TOTAL NON-FARM PAYROLL +1.7M GOVERNMENT +126K +1.8M UNEMPLOYMENT RATE 5.1% Professional +408K Health Care +350K Retail +277K Leisure/hospitality +273K Construction +121K Financial activities +105K Transportation +59K Temporary +43K Manufacturing +17K Education +11K
- 10. CURRENT EMPLOYMENT SITUATION 5.8M available jobs 7.9M unemployed people in the U.S. +3.9% GDP IN Q2 2015 labor participation rate 62.4% $ 157M in the US workforce September 2015
- 14. Source: U.S. Census Bureau, Advanced Monthly Retail Sales RETAIL SALES DEMONSTRATE MIXED RECOVERY
- 15. Source: U.S. Census Bureau, Advanced Monthly Retail Sales HOME SALES ALSO SHOW MIXED PERFORMANCE
- 16. Source: Bureau of Economic Analysis, Personal Consumption Expenditures POSITIVE GAINS IN CONSUMER SPENDING
- 17. Source: Bureau of Economic Analysis, Personal saving as a percentage of disposable personal income CONSUMER SAVINGS STEADY
- 19. $0 to $30,000 135 Million in 2014 from BLS WHAT DO PEOPLE EARN? Percentage of workers by salary range 41% $30,000 to $60,000 39% $60,000 to $90,000 13% $90,000+ 7% $
- 20. WHAT SALARY LEVELS GET THE MOST JOBS POSTED? U.S. posting count $0 to $30,000 23% $30,000 to $60,000 36% $90,000+ 10% unknown 9% $60,000 to $90,000 22% $0 to $30,000 13% $30,000 to $60,000 36% $90,000+ 12% unknown 10% $60,000 to $90,000 29% Monster posting count
- 21. ONLINE JOB POSTINGS OVERVIEW YEAR-TO-DATE POSTINGS TREND Postings, Jan to Aug: 2014: 107.3 M 2015: 114.0 M MONTHLY POSTINGS, LAST FOUR YEARS 6% YoY Monthly average, Jan to Aug: 2014: 13.4 M 2015: 14.2 M 6% YoY 2011 2012 2013 2014 2015 0 2 M 4 M 6 M 8 M 10 M 12 M 14 M 16 M 18 M
- 22. POLLING QUESTION Which title has the most job postings in the U.S.? A. Truck Drivers B. Customer Service C. Registered Nurses D. Application Developers
- 23. TOP 10 OCCUPATIONS FOR JOBS
- 24. TOP SEARCHES Source: Monster Internal Data, Most Recent Job Views, March 2015–August 2015.
- 25. TOP VIEWED JOBS Source: Monster Internal Data, Most Recent Job Views, March 2015–August 2015.
- 26. DATA SCIENTISTS SOCIAL MEDIA MARKETERS
- 28. SOCIAL MEDIA IS A DOMINANT FACTOR
- 29. 2Jobvite.com 65% Recruiters currently using Facebook during their recruiting process2 73% Recruiters planning to invest more in social recruiting2
- 30. Source: Monster Loyalty Survey, November 2014; Note: Surveyed representative sample of adults who work full-time. SOCIAL MEDIA JOB SEARCH 52% Occasionally review job listings on social media sites for potential employment opportunities 53% Occasionally network on social media sites for potential employment opportunities
- 31. Source: Monster Loyalty Survey, November 2014; Note: Surveyed representative sample of adults who work full-time. WOULD CONSIDER AN OPPORTUNITY FROM… 24% 29% 41% 44% 46% 46% 49% 50% 54% 65% Job Seekers Building Trust In Social Media 24% 29% 41% 44% 46% 46% 49% 50% 54% 65% Friend or relative Call from a job recruiter Job ad on a job board/site Company-sponsored social event Industry publication that lists new jobs Trade show or industry conference Job ad on LinkedIn Email offering a job description Job ad on Facebook Job ad on Twitter
- 32. JOB SEEKING IS A 24/7 ACTIVITY 1 Glassdoor Survey, 2014 2 Monster Internal Data 2015 of candidates are likely to use social media in their job search1 79% 70% of candidates are using their mobile device to find jobs2
- 33. Twitter has nearly 315M+ monthly active users 500M tweets per day On average, over 60K jobs are tweeted each day 35M mentions of “Job Search” related keywords 80% of users access Twitter on mobile Drive engagement with a targeted audience Reaches diverse audience; millennials, business leaders, influencers Source: Monster Internal Data, 2015; Twitter, 2015
- 34. What’s Next?
- 37. Workers on Tap?
- 38. EMPLOYERS EMPLOYEES Benefits and insurance? Jobs for blue to white collar FLEXIBLE But what about down time? JOB SECURITY? Wages that are driven down by supply/demand? REQUIRED SCALE? Minimize salary, insurance and benefit costs INCREASING REGULATIONS? Hire specific skills when needed But what about employee consistency and commitment? SCHEDULE
- 39. 7.6 million McKinsey Global Institute people who are inactive or part-time could work additional hours through freelance platforms 200 million on-demand labor force by 2020
- 40. ROBOTS
- 41. The Wall Street Journal, “Meet the New Generation Robots for Manufacturing,” February 2015. ROBOT DENSITY 30 152 282 323 437 Industrial robots per 10,000 manufacturing employees South Korea Japan Germany U.S. China Auto parts 35% Auto 29% Food Life sciences 6% Other Metals 29% Robot orders in the U.S. in 2014 by industry Semi- conductors Plastics/ rubber AT WORK IN AMERICA The Wall Street Journal, “Meet the New Generation Robots for Manufacturing,” February 2015.
- 42. 16% OF U.S. JOBS COULD BE AUTOMATED BY 2025 Forrester Research, 8/2015.
- 43. GENERATIONS IN THE WORKPLACE
- 44. POLLING QUESTION Which generation makes up the majority of today’s workforce? A. Baby boomers B. Generation X C. Millennials D. Generation Z
- 45. Source: Bureau of Labor Statistics Employment Projections 2005 31% 21% 38% 22% 45% 23% 25% Millennials Generation X Baby Boomers
- 46. 2010 Source: Bureau of Labor Statistics Employment Projections 31% 21% 38% 22% 36% Millennials Generation X Baby Boomers
- 47. 2015 Source: Bureau of Labor Statistics Employment Projections 31% 21% 45% Millennials Generation X Baby Boomers
- 48. GENERATION Z 80 MILLION US Census
- 49. WHAT MOTIVATES MILLENNIALS 1http://business.time.com/2012/03/29/millennials-vs-baby-boomers-who-would-you-rather-hire; 2http://www.pwc.com/en_M1/m1/services/consulting/ documents/ millennials-at-work.pdf; 3Brookings.edu “How Millennials Could Upend Wall Street and Corporate America” May 2014 “Loving what I do” is among the top options for job desirability, outranking salaries and big bonuses.1 65% said the opportunity for personal development was the most influential factor in accepting their current job.2 Almost two thirds of Millennials said they would rather make $40K a year at a job they love than $100K a year at a job they think is boring.3
- 50. Source: Monster College Student/Graduate Survey, April 2015 1Male college graduates strongly prioritize salary level compared to college students and female college graduates DEGREE OF HAPPINESS PEACE OF MIND RESTFUL SLEEP JOB SECURITY LOVE/ RELATIONSHIPS 33% 51% 30% 41% 16% 31% College student College graduate SALARY LEVEL1
- 52. “Choose a job you love, and you will never have to work a day in your life.” — Confucius 52
- 53. THANK YOU