Global Recruiters of Memphis (GRN Memphis)’s Post

2024 US Labor Market is being characterized by stability and normalization. Exciting developments: - Recession? Not likely! Thanks to robust consumer spending and a resilient labor market, economists are steering away from predictions of a recession. - Hiring momentum: Companies are still on the lookout for great talent. - Wallets still happy: Wages are showing signs of cooling down but are expected to remain above pre-pandemic levels due to sustained worker demand and productivity gains. The takeaway: - Stay optimistic about the job market. - Prioritize upskilling and showcase your unique value proposition to stand out in the crowd. - Networking is your secret weapon, so keep building relationships, even if you're not actively job hunting. - Develop a relationship with a professional recruiter. - Stay informed, take a proactive stance in managing your career for the future. At Global Recruiters of Memphis, we are dedicated to developing long-term strategic alliances with client companies and candidates alike, and GRN has been recognized by Forbes for the fourth year in a row as one of the Top 50 Executive Search Firms. #CareerOpportunities #careeradvice #grnmemphis

Exploring the job market: Rising openings, burnout, and challenges Despite a surge in job openings and rising wages, half of job seekers report feeling "completely burned out." What's behind this paradox? 1. The job market seems ripe with opportunities: new jobs are flourishing, wages are on the rise, and unemployment is at record lows. Yet, many candidates express frustration in finding roles. 2. Experts attribute this to a shift in employer attitudes. While hiring is happening, companies are less eager to offer generous packages as see during the Great Resignation. 3. Additionally, the rapid evolution of job requirements has left many candidates feeling unprepared, leading to the need for re-skilling, which can be time-consuming and costly. 4. Technological advancements have streamlined the application process but also brought challenges, such as inundating job listings with candidates and prolonged response times. 5. Employers, despite favorable conditions, tread cautiously to avoid over-hiring, a lesson learned from past cycles of layoffs. 6. Nevertheless, companies remain committed to recruitment, albeit with more measured approaches focused on specific hiring goals. In navigating this landscape, understanding these dynamics can help both job seekers and employers adapt strategies for success. #jobmarketinsights

What are your thoughts on this? ⭐ ⭐ ⭐ ⭐ ⭐ Facing the Challenges of the Current U.S. Job Market The U.S. job market is currently facing significant challenges, impacting both job seekers and employers: 🔻 Economic Uncertainty: Recent economic fluctuations have led to job insecurity in various sectors. 🔻 Layoffs and Hiring Freezes: Many companies are implementing layoffs and hiring freezes, making it more difficult for job seekers to find new opportunities. 🔻 Wage Stagnation: In many sectors, wages have not kept pace with inflation, leading to financial strain for many workers. In these tough times, it's crucial for job seekers to stay resilient and for employers to support their workforce as much as possible. Investing in training, upskilling, and mental health resources can make a significant difference. #JobMarket #EmploymentChallenges #USJobs #EconomicUncertainty #WorkplaceSupport #HR

Seize the Opportunity Outlined in the July 2024 Jobs Report: 👇 The Bureau of Labor Statistics just dropped a bombshell: Unemployment hit a three-year high at 4.3%, and job growth slowed. But here's the kicker—opportunity is knocking. 🎯 The Playbook: -Snatch Up Top Talent: Major layoffs mean top-tier talent is on the market. Hire now before the competition wakes up! -Double Down on Recession-Proof Industries: Healthcare, Utilities, and -Logistics are hiring aggressively. If you're in those industries, pay attention. -Focus on Stability: Workers crave job security. Offer them the stability they want in industries that thrive even during downturns. 🔥 Here Are the Stats: -Unemployment Rate: Climbed to 4.3%. -Job Additions: Only 114,000 new positions in July, a drop from June's 179,000. -Sector Highlights: ➡ Growth Leaders: Healthcare added a whopping 55,000 jobs! Construction, Transportation, and Warehousing also surged. ➡ Underperformers: The Information sector lost 20,000 jobs. 👉 Take Action: "The labor market is segmented, and your strategy should be too," says Julia Pollak, Chief Economist at ZipRecruiter. Don’t wait—pivot your hiring strategy today! These candidates come to Crown Staffing to accelerate their job search. Connect with us now and secure skilled professionals quickly. #HR #Recruiting #JobsReport #JobOpportunities #GrowthMindset

📉 Job Market Slows to Decade Low, but There's Hope on the Horizon 📉 The U.S. job market is experiencing its slowest growth in over a decade, sparking concerns on Wall Street. However, new data from Challenger, Gray & Christmas Inc. offers a silver lining: job cuts are down 4.4% from last year. While technology and service sectors lead in layoffs, the decline in tech job cuts suggests the sector is stabilizing after last year's turbulence. Food manufacturers face unique challenges, from shipping issues to climate change, affecting staffing. Amidst the cooling market, employers and job seekers must adapt to shifting dynamics. #JobMarket #EmploymentTrends #CareerDevelopment #WorkplaceChanges

37,500 new job openings were posted in the #DFW market in Q4 2023 with a low unemployment rate of 3.7%. Staying informed on hiring trends in your locality is essential for navigating a complex labor market, especially as companies continue to face staffing challenges. As a professional, it's crucial to keep an eye on the job market's fluctuations and stay ahead of the curve. With the rise of remote work and ever-changing hiring trends, it's essential to stay informed to attract and retain top talent. What are your plans for recruiting, hiring, and retaining top talent this year? Share your insights and strategies in the comments below! #hiringtrends #recruitmentstrategies #talentmanagement

The job market looks solid, but job seekers face challenges like layoffs and recruiters ghosting them. High inflation and recession fears make companies cautious about hiring, causing frustration for both candidates and businesses amid ongoing economic uncertainty. Learn more by visiting here: https://cnb.cx/4baOr0C #JobMarket #JobSeekers #Challenges #Recruitment

The local job market remains a challenge for many professionals across all industries. 2021 - Q2 2022 the local job market was on fire! Once the Fed announced interest rate hikes at the end of Q1 2022 with 4 additional rounds of increases, minimum, over the remaining 9 months of 2022, the hiring landscape for passive and active candidates alike changed overnight. Employers across all industries reducing budgets on headcount spend, RIFs, “hiring freezes”, reduction in internal promotions vs historical average market data, and more. Employees who were “unhappy” or “quiet-quitting” during that time and entertained leaving for another opportunity, some came out ahead but the majority made a lateral move at best or worse, were affected by layoffs shortly thereafter at their new employer, left looking for new opportunities as they navigate the complexities of the job market today. I wish I could just say that brighter days are upon us and that it will get better. Although that is true, the timeline is indefinite. Yes there is optimism in the markets and there are some indicators that 2025-2026 we’ll see a bounce back. That is yet to be defined. I share this to shed light to my profession as a recruiter, a trusted resource for my clients and candidates; during these tough times, remain empathetic, patient and understanding to the real life stories shared by those impacted. Have the humility to offer a helping hand in any way possible and for goodness sakes, please do your best to stay organized and provide feedback to any and all candidates and clients on updates from their searches. We’re all human, we’re all in this together. What we do as recruiters matters. Don’t forget that. TalentoHC #BuildYourBestTeamYet

The fight for QUALITY talent remains! We are still leveling out from all of the change the pandemic created everywhere, especially the job market. It's hard to find talent, let alone quality talent that has the skillset you need, is aligned with your culture and has those key intangibles! #recruiting #retainedsearch #elevateyourbusiness #elevateyourcareer #hiring #jobopportunities

The U.S. Economy added 303,000 jobs in March, marking the 39th month in a row of job growth. Concurrently #unemployment has held below 4% for 26 months straight – the longest stretch of continuous low unemployment in 50 years. In contrast LinkedIn’s data reveals unusually low attrition (folks changing jobs) over the last 24 months, with the assumption being that economic uncertainty tied to high-profile corporate layoffs artificially dampened the talent market. All of which to say it is likely we’re about to see a lot more liquidity in the talent market. If you are considering reentering the job market for the first time in a few years, it can be helpful to have a strategy to help navigate the post-pandemic new-normal. See these 5 unconventional places to look for jobs now that the market is recovering → https://lnkd.in/egVb9GD6 #hiring #recruiting #DEI #diversityequityinclusionbelonging #artificialintelligence #diversityrecruiting #hersishiring #HERSadvisors #recruitmentredefined