Staffing Industry Solutions: Has Hiring Stalled?
The number of job openings reported by the U.S. Department of Labor reached 4.84 million in August, the highest amount since January 2001. According to Market Watch, the open positions have been rapidly reported in both private-sector businesses and government operations. While the news has of potential has brought hope to millions of jobseekers, experts suggests that the high job posting numbers could be a sign that employers remain reluctant to actually fill positions.
The jobseeker to posting rate is roughly 2:1, however, there have been many cautionary reports surfacing over the last few months warning employees to look at the bigger picture when seeking employment. Some reports have indicated that employers are taking their time to fill these open positions. Others indicate that businesses may be anticipating the ability to add employees to their workforce, but still currently lack the capacity.
While it is true that hiring slowed to 4.64 million in August from 4.93 million in July, the JOLTS main payroll report indicated a net employment growth of some 423,000 jobs between July and August of this year. At the same time, the number of employees leaving their jobs in August decreased for the month before. Economists suggest that the employee quit rates indicate that Americans might be less confident about their work prospects in the foreseeable future. However, lay-off and firing rates reportedly decreased as well to one of the lowers rates since 2000, Experts believes that this is another indicator that the economy is improving. Many professionals and businesses remain hopeful and outspokenly confident that hiring will continue to rise and employment rates will increase.
At World Wide Specialty Programs, we specialize in helping the staffing industry stay on top of their game to succeed. No matter what size, shape or focus a staffing firm may take; our specialists can help secure complete staffing industry solutions for risk management and liability control. We can help ensure that staffing agencies obtain the necessary insurance solutions to protect all their assets. For more information about all our staffing industry solutions please give us a call today at (877) 256-0468.