- Lower job growth could be a sign of a healthy economy—The US added 215,000 non-farm jobs in March 2016, while April added 160,000 jobs (the fewest since October 2015 and well below expectations). Economists have long argued that the pace of payrolls gains will slow down as the US economy pulls closer to full employment. April revealed that we’re almost there.
- How does that effect the talent pool? “Payrolls growth will eventually slow towards trend labor-force growth (estimated at 100,000 per month). This should be associated with faster wage growth as employers compete for a smaller pool of available labor.”— Jeremy Schwartz, Credit Suisse
- Currently, staffing and recruiting outpaces the US economy and the labor market — Historically, staffing employment has been an economic indicator and a leading employment indicator. So goes staffing, so goes overall employment trends.
- National unemployment is 5%, meanwhile, IT unemployment rate is 2.6%
- Will IT unemployment reach 1%? What I tell our clients is to operate like it already has.
We’ve known this and now the data proves it. If you’re looking to expand your IT department, I cannot stress enough the importance of having a recruiting strategy in place. Top IT talent are gainfully employed or signing a job offer as we speak. You want to be that employer that gets them in between. Our expertise can help.