The High Season of Hiring
One of the U.S. economic indicators was reported this morning… first-time jobless claims, which unexpectedly dropped to a 3-week low.
Recently, the media has exaggerated the slowdown in the job market. While the media is portraying a decline, this week alone, several of our clients accepted a job offer.
What we are actually in is a “high season” of hiring as many companies are furiously attempting to onboard open positions budgeted for 2022 and triggering budgeted positions for 2023, based on over-performing EBITDAs.
An interesting graph below shows that the “prime-age” employment is close to actual pre-pandemic levels. Pay special attention to this information weekly as it tells an accurate story about real-time positive and negative movements of the hiring market.
The current economy is allowing job-seekers to have a louder voice at the table concerning compensation packages. Employers are being much more responsive and flexible with onboarding compensation packages. Not only have companies on average budgeted 3% of their entire payroll for hiring costs but benefits as well.
If you have been seriously considering a career change soon, this may be the optimal time to enter the arena. While the job seeker may have the upper hand, this will not be a long-term play. If your solo search efforts find you consistently swimming upstream, not gaining any traction, and you are in a position that you need while hoping to cope, reach out. Let us know how we can help you with you whether you have questions or comments, or if you simply need additional information.
Information reported by Market Watch: https://www.marketwatch.com/story/jobless-claims-drop-to-three-week-low-of-214-000-as-hurricane-ian-effects-fade-11666269576?mod=home-page
Written By: Patrick Lage, Senior Regional Director
Patrick Lage is one of our talented Regional Directors. He brings over 13 years of experience in the industry of helping people make successful career transitions.
Among that extensive experience he also brings a Fortune 500 background, a lot of empathy and vital resources from a technology and written perspective.
He loves helping people, providing knowledge and expertise and the personal satisfaction that comes with his role as a Senior Regional Director. Patrick offers substantial knowledge of specific industries to his clients along with an Executive background.