As we kick off the New Year, the candidate-driven market that MRINetwork has been observing in the executive, managerial and professional sector is projected to become an even greater challenge in 2014. The media is increasingly making note of this trend, referenced as “overwhelmingly candidate-driven” in the most recent MRINetwork Recruiter Sentiment Study, as exceptional candidates with specialized skills gain more leverage due to a shrinking talent pool. The reality is that employers must compete like never before to bring in the best people to lead their organizations into the workforce of 2020 and beyond.
According to the Labor Department, 104,000 private sector jobs were added to the U.S. economy in October, while state governments were largely responsible for a loss of 24,000 positions in the public sector. Nonfarm payroll employment rose 80,000 in October and the unemployment rate fell from 9.1 to 9.0 percent. While the total job gain was lower than that of the last few months, there have been substantial upward revisions in recent months. September’s private sector gain, for example, was originally reported at 137,000 and was subsequently revised up to 191,000 in the Labor Department’s most recent report.
Reports have recently come out showing that regions not traditionally associated with high-tech work are beginning to emerge as major players in the industry.
Attrition is an anticipated byproduct of every business, but when it includes losing key salespeople, the impact can be devastating. Measures such as non-compete agreements and transferring of accounts to other sales representatives are frequently imposed to mitigate a loss in revenue, yet accounts still remain vulnerable as trust and confidence must be established between the new rep and the client.
The August Employment Situation report from the U.S. Bureau of Labor Statistics brought somewhat disappointing news, showing the first month of job gains under 200,000 since January. According to the BLS, just 142,000 positions were filled over the month.
Private sector hiring in August dropped from its July rate but still remained relatively strong, according to a report from Automatic Data Processing. ADP’s survey found that 204,000 new jobs were added in August.
Employment in clean energy experienced a dramatic boost this year, with hiring in the sector doubling from 2014’s first quarter to the second, according to a new report from the nonprofit group Environmental Entrepreneurs (E2).
An estimated 45 positions are made available by each job directly with a brewery. Total wages and benefits supported by the beer industry are said to be around $79 billion annually.
Breaking into the entertainment industry may be difficult for some professionals, but according to The??Wall Street Journal, employment in the sports realm has continued to soar in the past several years.
Economists revealed that the U.S. experienced strong growth on the job front during the second quarter of 2014.