Since the recession began in 2007 there have been a number of ups and downs in the employment market. It is important to continuously revisit the employment situation to determine what companies are doing now and how they can improve for the future. It is also imperative to see how this is affecting the quality or quantity of available candidates for specific jobs.
The Current Status of National Employment as Provided by the U.S. Department of Labor for July 2014.
- Unemployment rate. As of July 2014 the unemployment rate is steady at 6.2%. It declined by only 1.1% from June.
- Long term unemployed. Individuals who have been out of work for 27 weeks or more are considered long term unemployed. It remains unchanged and 3.2 million people. They make up 32.9% of the total of unemployed adults.
- Involuntary part-time workers. Workers who were unable to find full time work or who had their hours cut are counted at 7.5 million which unchanged in July.
- Discouraged workers. 741,000 adults are not currently looking for jobs. This is down by 274,000 from 2013. People in this category are no longer looking because they feel there are no jobs for them based on their skills or experience.
- Industry influence. However slowly, unemployment is going down. Professional and business services added 47,000 jobs in July and 648,000 in the year. Manufacturing added 28,000 jobs in July and an average of 12,000 jobs each month since July 2013. Retail and construction also added jobs. Hospitality and temporary staffing remain largely unchanged in July.
Are You Looking to Grow Your Business as 2014 Continues?
If you answered with a YES! then contact the experienced recruiters at Anserteam Workforce Solutions. With the experienced staff on hand to assist you with your hiring initiatives, we know what it takes to help grow your organization.