2nd Quarter Labor Market Roundup: Competition Heats Up

labor market

Now that we’re in the heat of summer, it’s time to reflect on the second quarter of 2019. As you probably haven’t forgotten, the first quarter kicked off especially strong. While the second quarter of the year resulted in a slightly more conservative labor market, it still showed steady growth. The unemployment rate remained fairly consistent throughout the quarter. In June, the unemployment rate was at 3.7 percent. Moreover, last month was officially the 105th consecutive month of job gains, a strong end to the second quarter.

The disparity between open jobs and people seeking work continued to hover around 1.63 million, which in April 2019, was the largest gap ever recorded. This demonstrates exactly how competitive the labor market currently is, with active candidates receiving multiple offers in only a matter of weeks.

Want to learn more about hiring or taking the next step in your career in a candidate-driven market?

Here are a few recent labor market highlights from our industry experts:

cost of vacancy

Are You Aware Of The Cost Of Vacancies?

In this crazy labor market, it’s not uncommon for an employer to have multiple vacant positions. But have you ever thought about the direct and indirect costs associated with a vacancy at your organization? It’s costing your company a lot more than you may think! Here are a few costs incurred by vacant positions and some tips on how to mitigate them.

attract talent

5 Ways To Attract Talent To Your Company

With the unemployment rate at 3.6%, it’s a near 50-year low in the United States. It has been a candidate-driven market for quite a while now, making it incredibly hard for companies to hire the talent they need to take their organization to the next level. Because of this, it’s necessary to get a little more involved in recruitment in order to accomplish your hiring goals. Here are 5 great ways you can attract talent to your company throughout the entire process.

resume

How To Rejuvenate Your Resume

Has it been a few years since you were last on the job market? Even if you have a great job, it can be tempting to see what else is out there in this candidate-driven labor market. If you haven’t had to think about your resume in a while, here are a few tips to breathe some life back into it.

negotiate

How To Negotiate In A Candidate-Driven Market

You may have heard that the current job market is “candidate-driven,” but what exactly does that mean? First and foremost, it means that there are lots of great jobs available to a limited number of qualified candidates. For people looking to advance their careers, this results in better-negotiating power when it comes to wages, incentives, location, and work-life balance. However, there are a few things to keep in mind when negotiating a new position.