Job Gains and Veteran Hiring – November 2022
With an average monthly job growth of 407,000 year-to-date, the workforce recovery continues. The Bureau of Labor Statistics (BLS) revised September 2022’s job growth from 263,000 to 315,000. Additionally, the August 2022 job gains decreased from 315,000 to 292,000. As organizations continue creating progress for the workforce recovery, it’s also important to evaluate and strengthen veteran hiring efforts.
Veterans Day reminds Americans of the significance of expressing gratitude to veterans and their families for their service. However, in addition to giving thanks, supporting service members during and after their military careers is essential.
Rose International understands the importance of connecting organizations with top talent and remains dedicated to helping more Americans find work. Through the company’s Deployment to Employment (D2E) program, the company is committed to supporting professionals with military backgrounds during their career journeys during the workforce recovery and beyond.
Shifts in the Job Landscape
The job landscape gained 261,000 jobs in October 2022, surpassing the 205,000 total Dow Jones estimated. The unemployment rate increased from 3.5% to 3.7%. While job growth was less than in October 2021, when 638,000 jobs were added and national unemployment was 6.9%, workforce resiliency perseveres. The temporary help services sector gained 11,800 jobs, raising the contingent workforce total to 3.2 million.
According to the BLS, the job market gained 4,068,000 jobs so far in 2022. Rose International had over 32,000 job openings thus far in 2022. Year-to-date, the company had an average of 3,300 monthly job openings, an increase from the average of 3,200 during the same time in 2021.
Continual progress in improving diversity, equity and inclusion (DEI) is imperative for organizations of all sizes. As we celebrate the Veterans Day holiday honoring our service members, it’s crucial to consider how professionals with military backgrounds fit into the job landscape.
Veterans in the Workforce
It’s vital that expressing appreciation for America’s veterans and military families goes beyond Veterans Day. More than 18 million veterans live in the United States, and nearly half aren't in the workforce. For the eighth consecutive month, veteran unemployment was below 3%. Progress occurred, but there’s still room for improvement in supporting veterans during their post-military careers.
When transitioning from their military careers to Corporate America, service members face barriers, including translating their skills and knowledge, creating resumes and preparing for interviews. Evaluating current hiring strategies is imperative to address veteran hiring efforts.
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Deployment to Employment
Expanding hiring initiatives to include those with a military background is possible, but there are organizations that companies can partner with to hire more veterans. Rose International is a leading staffing and total talent solutions provider with proven experience hiring professionals with military backgrounds.
Through its D2E program, Rose International understands the challenges organizations face when seeking to grow their workforces with military veterans, reserves and spouses. Using strategies that include innovative outreach, hosting specialized resume workshops and interview preparation sessions, the company's D2E team helps these individuals find the right job for them.
Through its D2E program, Rose International proudly partnered with Military.com, Operation Dress Code and others. The company is honored to have helped thousands of service members find fulfilling jobs and looks forward to continuing to make a positive impact for years to come.
Benefits of Hiring Veterans
Hiring and retaining military veterans, reserves and spouses contributes to strengthening the world of work by furthering DEI efforts. In addition, businesses have a lot to gain from the capabilities and skills service members possess.
Service members have qualities such as integrity, a great work ethic and others that are valuable to employers. In addition, they can work in a team, are experienced leaders, effective communicators, proficient critical thinkers and more. By hiring military members, business leaders can utilize the specialized technical and foreign language skills these individuals acquired during their service.
Benefits of hiring service members are abundant. Veterans Day serves as a reminder that allows organizations to further show appreciation to veterans for their service to this country by supporting these service members and their families.
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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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