In January of 2019, we saw 7.6 million job openings, smashing December 2018’s record out of the park by nearly 300,000 jobs! Here is a brief summary of the latest Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics:
- Job openings: 7.6 million
- People hired: 5.8 million
- Total number of people who left their jobs: 5.6 million
- People who voluntarily quit their jobs: 3.5 million
- People who involuntarily left their jobs: 1.7 million
- People who left their jobs for retirement or their reasons: 336,000
The labor market is still on fire
Regardless of the “disappointing” Jobs Report released earlier this month, the labor market remains competitive. In today’s candidate-driven market, there is less than one available candidate per open job in the country. Like last month, 3.5 million Americans voluntarily left their jobs and sought out greener pastures. And over the last three months, job gains have averaged 186,000 per month.
Simply put, the market is hot! There’s no doubt about it. If your organization’s hiring process is not efficient, you may struggle to fill your critical positions. But don’t panic! Just because the market is crazy, it doesn’t mean your search for candidates has to be! Partner with a recruiter to help you find the talent your team needs and continue on with your day. You have enough to worry about, so why not let a professional take some of that stress off of your shoulders?