In this week's Recruitonomics Newsletter, the team is diving deep into the outcome of the U.S. presidential election and what it may mean for recruiters. Plus, we go across the pond to look at the latest labor market data in the United Kingdom. Read on to learn more!??? Newsletter author ??: Liz Anderson #Recruitonomics #LaborMarket #USElection #UK
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Yesterday, the Office for National Statistics released their latest labour market overview ?? While the number of payrolled employees continues to increase, the rate of annual growth is decreasing. In response, the Recruitment & Employment Confederation suggest that recruiters report firms are still ready to move but are taking longer to make hiring decisions. As a recruiter, do you agree? Share your thoughts in the comments! #RecruitmentNews #ONS #LabourMarket
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Do you subscribe to our monthly newsletter for employers? Get the latest employment and candidate trends, topical news, advice & statistics that will help you navigate today’s talent-sourcing landscape. Subscribe here: https://lnkd.in/gNhwzur2 #mjdrecruitment #recruitmentagency #recruitmenttrends #recruitmentadvice #officesupport #legalsupport #HRrecruitment
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Nobody likes talking about politics... ?? However, since starting my role at Rocket Recruitment, I've had to dive into policies that impact the recruitment industry. From overall employment regulations to the evolving requirements for right-to-work checks, staying informed is crucial. ?? ?? With the general election just a day away, I'm pondering how the potential outcomes could shape the industry. Each party's policies could bring significant changes, and it's essential for us to stay ahead of these developments. ?? #recruitment #temporaryrecruitment #politics #generalelection https://lnkd.in/e9mUFdhu
How Will The UK 2024 Election Effect Temporary Recruitment?
https://mobilerocket.co.uk
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I received an insightful email from Neil Carberry at Recruitment & Employment Confederation highlighting the much-needed certainty for businesses following the unexpected upcoming election. With the hope of decreasing inflation and interest rates, the end of political uncertainty will empower clients and candidates to make decisive moves, which will be very much welcomed by the Recruitment Industry! In the past months, we've spoken to many clients who have expressed a positive outlook for the remainder of the year however, they have been cautious in their approach. There is hope that we will see a shift from the "wait and see" mentality, and anticipate further acceleration in the second half of the year, as reflected in the UK job reports. As a leader in the Recruitment Industry, this period marks a crucial time to prepare and ensure that you and your teams are well-prepared and poised to excel in a evolving market. As we await the outcome of the election, it's essential to consider how a new government will impact the recruitment sector. Change is inevitable, regardless of the political party that emerges. Stay informed, stay agile, and be ready to adapt to the changes ahead in the recruitment landscape. #thoughtleaders #marketinsights #recruitmentlandscape #REC
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?? Dive into the latest February 2024 Jobs Report just released by the US Bureau of Labor Statistics! ?? Key Findings: Total nonfarm employment rose by +353,000, surpassing economist forecasts. Temporary help services employment saw a slight increase of +3,900 jobs, breaking a trend of monthly declines. Unemployment rate remains steady at 3.7%. ?? SIA’s Perspective: Competitive pressures persist, but firms with tech or service advantages are poised for success. ?? Implications: Understanding these trends can inform strategic decisions and help navigate the evolving job market landscape effectively. For detailed insights, access the full report here: https://lnkd.in/eVihbdii #JobsReport #EmploymentTrends #MarketAnalysis ???? #Staffing #Recruitment #Hiring #JobSearch #CareerOpportunity #Employment #JobOpening #NowHiring #HR #TalentAcquisition #JobOpportunity #Recruiting #Workforce #JobPosting #CareerDevelopment #JobSeekers #StaffingAgency #EmploymentAgency #RecruitmentAgency #JobMarket #TechJobs #FinanceCareers #EngineeringJobs
Fastest-Growing US Staffing Firms: 2023 Update
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My take on 2024. If there's been one trend I've noticed over my decade in the market, it would be that the market can seize up when there is political uncertainty. ?? Globally, more voters than ever in history will head to the polls in 2024 as at least 64 countries are meant to hold national elections. Most likely we will see a pivotal general election in the UK, and a polarising visit to the polls in the US. ?? Against a slightly glib recruitment market in 2023, I expect that we will see a rather active H1 of 2024. It's certainly started in a busy manner! Businesses that have come in to this year wanting to recruit, are getting it sorted early, with a clear plan of action. ? However, as we get further into Q3 I believe we will see many businesses and passive candidates start to slow down, sit on their hands and see how the political landscape unfolds. I expect by the end of the year we will mainly see "must have" recruitment, rather than anything too bold or expansive. My advice? ? Whether you're looking to move or looking to hire, get it sorted sooner rather than later. I think this year could be a game of two halves! What do you think? Will 2024 be the bounce back many are hoping for, or could some political uncertainty slightly de-rail market activity?
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Latest from FE News: Employers’ confidence is up – but new government must help them shift to hiring mode: Firms are feeling more confident about their business and the economy, according to the Recruitment and Employment Confederation’s (REC) latest JobsOutlook. In the latest representative… Employers’ confidence is up – but new government must help them shift to hiring mode was published on FE News by Recruitment and Employment Confederation (REC) #EmployabilityNewsCareerGuidanceAdvice #Employability Read more here:
Employers’ confidence is up – but new government must help them shift to hiring mode | FE News
https://www.fenews.co.uk
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If you are curious about how the upcoming general election might shape the recruitment landscape, have a read of this post. Understanding the potential impacts on the market and legislative changes can provide valuable insights, even if definitive answers are yet to come. Staying informed will help anyone navigating the current job market or planning ahead.
What Does the Election Hold in Store for Recruitment? With a general election looming, everyone wants to know how it will affect the recruitment market. Many factors influence this, but a potential change in government brings the winds of change. First, it's essential to acknowledge that the current conditions are particularly challenging. There are around a million vacancies across the UK, and skills shortages are prevalent in most sectors, leaving many positions unfilled. At best, the recruitment market is bumpy and flat. Given this backdrop, will a new government improve or worsen the market? The answer is complex due to the national and global headwinds we face. Like most industries, the recruitment market rises and falls with GDP, so all eyes will be on these numbers. Some sectors move quicker than others and are highly sensitive to business sentiment. Recruitment is one of those sectors that often feels market shifts before the Office of National Statistics publishes the official numbers. If businesses feel confident, changes in investment strategy can happen quickly, immediately affecting contract roles and permanent vacancies. Another critical factor is what legislative changes an incumbent party might promise to stay in power or a new administration might introduce to gain power. For instance, a new Labour government may propose changes around worker rights and has promised to pass a new employment bill within the first 100 days in office. This could include worker rights from day one, bans on zero-hour contracts, and repealing anti-strike laws. Meanwhile, the Conservative Party is continuing to reform TUPE rules, abolishing the European Works Council (following Brexit), and strengthening fees for employment tribunals. These will be confirmed in their manifestos, due any time now. So, what would be the effect on the recruitment market? It depends on how these changes play out. Will strengthening workers' rights lead to more security, less exploitation, and increased productivity? Or will they hamper growth and add red tape and costs to businesses? Whatever the answer, in the coming weeks, we have the choice to listen, evaluate, and decide what we think will be best for the economy and society. We should be proud of this opportunity and exercise our right to vote, whatever your personal view. #RecruitmentMarket #ElectionImpact #UKJobs
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Do you subscribe to our monthly newsletter for employers which has just gone out today? Get the latest employment and candidate trends, topical news, advice & statistics that will help you navigate today’s talent-sourcing landscape. Subscribe here: https://lnkd.in/gNhwzur2 #recruitmentagency #employernewsletter #officesupport #legalsupport
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In January 2024, the U.S. Bureau of Labor Statistics confirmed #employment trends from late 2023 will carry into the new year. Unemployment rates in Pennsylvania have reached a new low, and these statistics can feel scary if you are a small business trying to find and hire new employees at any level. Discover how #smallbusinesses can compete for new employees in our recent blog: https://lnkd.in/evAyUXFk #NewHires #PAjobsearch #PAjobs #MediaJobs #NewsJobs #MANSIMedia
How Small Businesses Can Compete for New Employees
https://mansimedia.com
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