FRSearch Partners’ Post

Top job market takeaways for 2023: 👉 22,700 new jobs last year, with growth in most industry sectors 👉 1.4% growth rate is fourth best in the region and 32nd among all states 👉 All but one labor market area saw gains, led by New Haven (6,700; 2.2%) 👉 3.8% unemployment rate is 36th highest in the U.S., while 64.1% labor participation rate is 19th best 👉 Labor force declined another 14,300 people and is down 37,900 since February 2020 👉 Job openings have increased 21% since February 2020 👉 Connecticut has 1.2 job openings for every unemployed person 👉 "We have the jobs—what we need are the people" #connecticut #jobs #workforce #workforcesolutions #transformCT

The latest US Chamber of Commerce report reveals: + There are 8.1 million job openings in the U.S., but only 6.8 million unemployed workers. Yes, this means that if we theoretically filled every job with unemployed workers, we would still have +1M open jobs + 36% of young professionals aged 25-34 are choosing to proactively focus on acquiring new skills, education, and training before re-entering the job market + Workers of all ages, but primarily younger generations, are tapping into a new source of income in large numbers given the rise of social commerce - leading to new challenges to attracting external talent https://lnkd.in/eB4vnV5 #chamberofcommerce #hiring #unemployment #opportunity

Please don't hate me for saying this, but unemployment comes in three forms: The Good, The Bad (but not horrible), and the Ugly. It's counter-intuitive, but some forms of unemployment are actually Good, as this component captures voluntary job quitters (they see a better opportunity) and new entrants (people re-joining the work force --- a sign of hope). The Bad is temporary job loss. And the Ugly is the most painful kind, permanent job loss. The most recent unemployment figures that increased from 4.1% to 4.3% was actually not horrible, as the Ugliest kind actually went down. Most of the increase came from temporary and new people entering the work force.

Why is it so hard to find a job when unemployment is so low? It's because unemployed people aren't the only people looking for jobs; you're not competing with the 3.8% of people who are unemployed. You're competing with the 96.2% who are. Those who are currently employed are keeping feelers out and still seeking new opportunities. Blame the economy. Blame the massive lay-offs of recent years. Blame the "normalizing" of job-hopping. But the fact of the matter is, this probably isn't a trend. It's here to stay.

More than half, 55%, of unemployed adults are burned out from searching for a new job, Insight Global found. Younger generations were affected the most, with 66% complaining of burnout stemming from job search. 👉 https://lnkd.in/dSyKVG9r . . . . . #jobseekers #jobsearch #jobs #job #hiring #recruitment #jobsearching #jobseeker #career #jobhunt #employment #jobopportunity #nowhiring #jobinterview #careers #recruiting #jobvacancy #resume #hiringnow #jobshiring #jobopening #work #interview #vacancy #jobhunting #hr #business #recruiter #jobfair #staffing

More than half, 55%, of unemployed adults are burned out from searching for a new job, Insight Global found. Younger generations were affected the most, with 66% complaining of burnout stemming from job search. 👉 https://lnkd.in/dSyKVG9r . . . . . #jobseekers #jobsearch #jobs #job #hiring #recruitment #jobsearching #jobseeker #career #jobhunt #employment #jobopportunity #nowhiring #jobinterview #careers #recruiting #jobvacancy #resume #hiringnow #jobshiring #jobopening #work #interview #vacancy #jobhunting #hr #business #recruiter #jobfair #staffing

It's no secret that the current job market is a difficult one. Many are struggling with unemployment, while others are overworked and underpaid. It's a heavy burden to bear, and my heart goes out to all who are affected. As we navigate these challenging times, my only wish is for things to balance out. It's crucial that those who are employed are paid fairly and receive a livable wage, if not more. And for those who are currently unemployed, my hope is that they find meaningful employment soon. Let's work together to create a job market that is fair and equitable for all. How is everyone doing? How can we help support each other better? #equity #jobmarket #fairness #unemployment #employment #livablewages #mentalhealth #universal #balance #support

With unemployment increasing and hiring slowing, expect longer job searches. > Fourth month is a row with an increase in the unemployment rate. > 1.3 million more people unemployed than one year ago as hiring slows. > U.S. employers have announced plans to hire just 74k workers, the lowest year-to-date total since 2012, according to report from #outplacement firm Challenger, Gray & Christmas, Inc. #jobs #hiring #careers #humanresources #hr #layoffs #jobsearch #jobcuts

The labor market is cooling, but this slowdown doesn't equate to an easier hunt for job seekers. Instead, it means stiffer competition. Job openings in April fell to their lowest level in more than three years, according to the latest numbers from the U.S. Bureau of Labor Statistics. 👉 https://lnkd.in/dcpa8EKA . . . . #jobseekers #news #employment #careeropportunities #jobmarket #jobsearch #jobhunt #jobopening #jobopportunity #jobnews