JOB MARKET TREND:
According to the Labor Department, U.S. payrolls added 204,000 jobs during the month of October. That beat economists’ forecasts by quite a lot, since they forecast an addition of 120,000 jobs to the economy. At the same time, the nation’s unemployment rate rose slightly, from 7.2% in September to 7.3% in October.
However, the number of jobs added to the economy during the months of August and September were also revised upward, meaning that more jobs were created than originally thought. At the very least, this is indicative of a positive trend—namely that companies are more willing to hire.
ANALYSIS:
Placements in TE Network™ have eclipsed last year’s pace throughout all of 2013. In fact, as of today, placements are up 17% year-to-date (YTD) over last year. Even better: Top Echelon recruiters made more placements in 2012 than they did in 2011.
The economy has been on an up-and-down rollercoaster ride throughout the year. Despite this fact, TE Network™ placements have continued to rise. This spurs a few questions:
1. How closely tied is overall job creation in this country to the number of placements recruiters make?
2. Is there a direct coorelation between the two, or is the coorelation (if one does exist) more tenuous and more difficult to decipher?
3. If the majority of jobs added to the economy each month are not positions for which companies use recruiters, does that guarantee recruiters won’t make more placements?
4. On the other hand, if the number of jobs added during a given month is relatively small, but those jobs ARE positions for which companies use recruiters, does that guarantee recruiters will make more placements?
There are many variables, and when you’re dealing with as much information and as many numbers as are involved here, it can become a bit confusing. Ultimately, though, the bottom line is still the bottom line: making more placements!
TE Network™ recruiters are making more . . . regardless of how many jobs the economy is (or isn’t) adding every month.
FEEDBACK:
Are YOU making more placements this year as opposed to last year? If so, to what do you attribute that increase?