Hiring Boom Predicted for the 2nd Half of 2017

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The latest job numbers show the economy added an additional 220,000 jobs in June bringing the unemployment rate to 4.4%. Great news for the economy and an indicator for hiring for the second  half of 2017. The unemployment rate fell to a 16 year low, marking the 78th straight month of job growth.

“Most employers remain confident in their outlook for financial growth and plans for hiring,” said Matt Ferguson, CEO of CareerBuilder. “Job seekers stand to benefit not only from having more options, but also from the growing intensity in the competition for talent.”

Where will we see most of the job growth for the remainder of 2017?

  1. Most of the growth will be in the West at midsize companies from 250 employees to 1000 employees.
  1. The industries with the highest growth rates for hiring in the 2nd half will be Information technology, manufacturing, healthcare and financial services.

So what does this all mean for your business?

Traditional recruiting tools like job postings are having increasingly low returns for hiring with the demand for talent at an all-time high. Does this mean hiring in this market is impossible, no, just harder. Reliance only on inbound hiring tools may make your job unfillable or increase your fill time substantially. Retained executive search firms are crucial for success in this job market as we are experts in methodology for untraditional resources for finding talent. In addition to knowing how to bring the best talent to the table, expert executive search professionals also know how to minimize the loss of top talent to other job offers. Nothing is more frustrating that getting down to the end of the hiring process and not getting your job offer accepted. We can help you to maximize the quality of talent for your critical positions and minimize the pitfalls in the hiring process.