By Ben Chelnitsky | USA
Demand for new employees is at high levels according to recruiters like Chris Nace of the recruiting firm Nace Partners.
With the unemployment rate at a more-than-a-decade low and job openings at a record high, workers in every sector are becoming valuable. Employers are handing out sizeable signing bonuses and hiring professional recruiters more than before.
The revenue for “search-and-placement” services in the US rose to $21.9 billion in 2016, almost triple the amount in 2009.
Gus Faucher, chief economist at PNC Financial Services Group, says that we have a “tight labor market” and that “job growth will slow this year because businesses are finding it difficult to hire.” He claims that businesses will eventually need to raise pay because workers will go elsewhere.
The Federal Reserve of Atlanta’s data indicated that those who changed jobs got a 3.9% higher pay than the previous year, while people who kept their same job got only a 3% increase.
Technology companies are looking for people to fill in various roles and strong candidates are being targeted greatly says one recruiter in New York. Ryan Sweet, an economist at Moody’s Analytics, says that the economy is “if not at full employment, very close.”