Unemployment Has Reached a New Low
What’s good news for our economy also brings additional challenges for employers who might be trying to hire. Unemployment has reached a new low! As of August 4, 2017, the government announced that unemployment is down to 4.3% (with real unemployment at 8.6%), the lowest it’s been since March 2001. With a surge of 345,000 newly employed workers, said CNBC, the number of employed Americans reached a new high of 153.5 million. The employment-to-population ratio reached the highest it’s been since February 2009, at 60.2%.
“The closely watched wage number was unchanged from previous months, with average hourly earnings up 2.5 percent on an annualized basis,” said CNBC.
More than ever, the labor market is candidate-driven, and qualified candidates will be harder to find. Employers who need to hire will want to keep their hiring process moving quickly enough to retain interested candidates, be open to training and developing new employees, and offer fair market wages to attract quality candidates.
Unemployment has reached a new low, but that doesn’t mean you can’t have quality candidates for your open positions. If you need help acquiring top contract or direct hire professionals, click here or call (714) 993-1900 to start your search. Amtec’s experienced recruiters will find you the best candidates, set you up to successfully interview them, and assist with offer negotiations, reference checks, and background checks.