Robert Half October Jobs Report- The Recovery Continues

The latest jobs report was out last week, and gains in the job market outpaced many analyst expectations, indicating that there may yet be some steam left in the early stages of this recovery:
  • Overall unemployment fell to 6.9% from 7.9% in September
  • The rate for college-degreed workers aged 25+ fell to 4.2% from 4.8% in September
  • 638,000 new jobs were added in October, marking six consecutive months of job growth
 
With the labor market tightening, especially for college-degreed workers, employers are once again being forced to compete for talent – an unthinkable concept as recently as this summer.  Over the past several months, remote work arrangements have become more common and even essential for some businesses.  Research from Robert Half shows that more than half (53%) of employers have hired full-time or temporary staff remotely since the pandemic began.  One advantage of hiring remotely is that your talent search isn’t limited to your local area. In our survey, 60% of managers who have hired remote workers said they expanded their search geographically to access a wider candidate pool.  With offices across the entire U.S., Robert Half is uniquely suited to assist with an expansive search for remote candidates.
 
If you’re interested in discussing what we’re seeing locally or getting some anecdotal evidence about the Central Ohio job market, I’d be happy to schedule a virtual meeting.  At Robert Half, we’re talking with dozens of accounting, finance, and human resources professionals every week, and can share first-hand what struggles other companies are facing and how they’re overcoming those challenges.  Please feel free to drop me a note at [email protected].
 
As always, please let me know if there’s anything we can do to assist from a personnel standpoint – whether it’s direct hire, temp-to-hire, contractor or consultant, I’d be more than happy to help.
 
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Hunter Lent, CPA
Client Service Director
Phone: (419) 297-5841
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