US Talent Market Monthly March 2014


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US Talent Market Monthly March 2014

  1. 1. M a r c h 7 , 2 0 1 4 $24.31 AVERAGE HOURLY EARNINGS (ALL WORKERS) 2.2% ABOVE LAST YEAR • Solid and slowly accelerating employment gains were driven by hiring in the professional and business services sector. • The unemployment rate rose slightly, primarily due to an increase in the labor force, while those working part-time for economic reasons continues to fall. • Experts had anticipated another very sluggish month of hiring, due to colder than usual weather throughout much of the U.S. Despite wintry weather conditions blanketing much of the country, the U.S. labor market managed to heat up very slightly in February. The economy generated a respectable 175,000 new jobs during the month—less than the average 194,000 per month added in 2013, but a healthy increase from the revised +84,000 jobs created in December and +129,000 in January. (Continued) WORKERS IN FEBRUARY U.S. EMPLOYERS HIRED A TOTAL OF 6.7% THE UNEMPLOYMENT RATE ROSE TO 7.7% LAST FEBRUARY 175,000 FEBRUARY JOBS REPORT: GOOD BUT NOT GREAT
  2. 2. Talent Market Monthly: March 7, 2014 February’s employment gains were led by the professional and business services category, which added 79,000 jobs over the month. The construction industry also created jobs (+15,000) despite adverse weather conditions. Manufacturing hiring was slow, (+6,000), but the sector has posted seven straight months of positive employment gains. Public sector hiring was also positive in February, driven by state and local government; federal government jobs fell by 6,000. The unemployment rate edged up by 0.1 percentage point to 6.7% in February, as more workers entered the labor force. The number of workers who hold part-time jobs for economic reasons continued to slowly decline, and is down more than two million people from a peak of 9.2 million workers in 2010. After two months of disappointing employment figures and soft recent economic indicators, February’s solid jobs report can be seen as a welcome improvement. Still, U.S. economic and labor market conditions remain like much of the country’s temperatures—stubbornly cool, with expectations of a warm-up in the coming months. EMPLOYMENT OVERVIEW SEP OCT NOV DEC JAN FEB Total non-farm employment growth 164K 237K 274K 84K 129K 175K Private sector employment growth 153K 247K 272K 86K 145K 162K Unemployment rate 7.2% 7.2% 7.0% 6.7% 6.6% 6.7% An Equal OpportunityEmployer ©2014 Kelly Services, Inc. W1093e. Kelly Services, Inc. makes no representationor warranty with respect to the materialcontained in this report. TALENT ON THE GO U.S. MONTHLY EMPLOYMENT CHANGE AND UNEMPLOYMENT RATE Source: Bureau of Labor Statistics 6.0 7.0 8.0 9.0 10.0 0 100 200 300 400 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan13 Feb13 Mar13 Apr13 May13 Jun13 Jul13 Aug13 Sep13 Oct13 Nov13 Dec13 Jan14 Feb14 UnemploymentRate(%) Employment(000s) Total non-farm employment growth Unemployment rate According to research from Pew, more than half of American adults now own a smartphone (58%), and 42% own a tablet computer. Mobile technologies are becoming the tool of choice for all kinds of tasks, from getting directions to coordinating social get-togethers to checking the score of a basketball game. It’s no surprise, then, that more people are using their mobile devices to help in their career decisions as well. A survey from GlassDoor found that three out of five people have searched for jobs on their mobile devices; around a third of those say they use their mobile device to search for jobs on a daily basis. Nearly nine in ten (89%) of employees who plan to look for a new job in the next year say their mobile device will be an important tool and resource for their job search. Prospective employees are also using their smartphones and tablets to research companies and salary information. Increasingly, they also expect to be able to apply for positions directly from their mobile devices. One in four respondents to the GlassDoor survey say they would not apply to a job if the company’s career site was not optimized for mobile—a clear sign that, in order to win the war for talent, employers need to get mobile. Sources: Pew Internet Project, GlassDoor