Spring 2017: Nationally, the unemployment rate continues its downward trend and the average U.S. hourly wage continues to rise. The unemployment rate in March was revised down from 4.7% to 4.5%. The lowest U.S. unemployment rate in almost a decade (since May 2007).
The most jobs were added to professional and business services and health services, although shortages are being seen across most industries as employer demand continues to outpace the supply of qualified candidates.
Other employment trends we’ve noticed? Companies are trying to lock down talent as workers become more scarce in the healthy job market. Employers are converting temp workers to permanent workers earlier than usual. Employers are also paying their employees more to reduce turnover and increase productivity.
Real-time job search data coupled with other sources can show us changing trends in the job market. With this information in hand, employers are better empowered to match candidates with the right opportunities, and to better understand the systematic barriers to talent attraction.