Dynamic Skillsets for an Evolving Job Market
The job market continued expanding in February 2024 after monthly job growth surpassed economists’ expectations. As many organizations reassessed hiring strategies, demand for skilled individuals persisted. Rose International understands many individuals want to ensure longevity in their chosen career paths, or are curious about exploring new job areas. In this article, the company breaks down different skill categories to help job seekers better showcase their strengths. As organizations continue hiring, Rose International remains committed to connecting job seekers with the job openings that are right for them.
Hiring is Happening
The February 2024 jobs report highlighted the job market gained 275,000 jobs, according to the Bureau of Labor Statistics (BLS). Dow Jones estimated jobs would increase by 198,000. The BLS reported the national unemployment rate increased to 3.9% after it remained at 3.7% for two consecutive months.
The BLS updated the December 2023 and January 2024 job reports to reduce by a combined 167,000 jobs. Specifically, December 2023’s job gain was revised from 333,000 to 290,000 and January 2024’s job growth was revised from 353,000 to 229,000.
Integrating the contingent workforce into hiring strategies provides numerous benefits to organizations, including seeking individuals with specific skillsets. While jobs in the temporary help services sector fell in February 2024, this sector historically experiences high monthly increases on an annual basis.
Recently, the BLS reported there were 8.86 million job openings, a total that remained relatively unchanged over a one-month period. Additionally, the layoffs rate remained at 1% for two consecutive months. Data shows the ratio of job openings to unemployed individuals is 1.4 to 1.
Organizations continue hiring skilled individuals. In February 2024, Rose International saw the most job openings in the IT, business professional and admin/clerical categories.
As the job market continues evolving, the Rose International Team understands many individuals are considering exploring opportunities for career growth. As the presence of skills-based hiring practices grows, there are some things job seekers can consider when comparing job opening requirements to their job skills.
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Skill Types
As the world of work evolves, so do professionals. While adapting skillsets to meet job market shifts proves invaluable for individuals of all experience levels, identifying capabilities that are applicable to various job areas is also beneficial.
Transferable Skills: Also called portable skills, transferable skills focus on capabilities and knowledge that professionals utilize in other roles and sectors. Examples include communication, team work, critical thinking and management.
In-Demand Skills: There are some capabilities that become increasingly in demand by organizations to help them keep up with evolving business needs. According to LinkedIn, the top in-demand skills for 2024 include customer service, leadership, sales and research. Job seekers who possess these skills should list their expertise level on their resumes.
Upskilling and Reskilling: Upskilling is when professionals enhance the capabilities and knowledge they already possess. Reskilling involves learning new skills that differ from a professional’s current skillset. Continued development and amplifying skillsets remains invaluable, and many hiring teams take notice of job applicants with a growth mindset, which speaks to their adaptability.
While job market conditions continue shifting, hiring continues to happen across a multitude of sectors. Countless organizations are actively hiring for various job types. Regardless of career level, Rose International is eager to continue helping job seekers. Click here to get in touch with the company today.
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?? Rose International is one of the largest providers of Staffing and Total Talent Solutions to corporations and government agencies, employing thousands of people in all 50 states. Certified minority- and woman-owned, the company is headquartered in St. Louis, MO and has offices and service delivery centers across the U.S. and India.
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