May 3, 2024 — AMS, the global talent solutions business responds to latest US Bureau of Labor Market statistics. In April, the US economy added 175,000 positions while unemployment rose to 3.9%.
Commenting on the latest statistics Nicky Hancock, Managing Director, Americas Region at AMS said: “The US employment market continues to be a mixed landscape. With various sectors hiring and others remaining dormant. Some employers are focused on harnessing data insights to understand what next steps to take as they continue to confront challenges around finding the right people with the right skills.
We’re seeing increased adoption of talent technology and AI, and companies are experimenting with leveraging tools to enhance productivity. An example of this with AI, includes teams choosing to modify skills requirements within job descriptions.
Organizations that have slowed in hiring are taking the time to re-evaluate attraction and engagement strategies which has included reviving Candidate Relationship Management (CRM) platforms with a focus on refining talent pipeline segmentation.
Additionally, companies that are forward thinking in their talent acquisition strategies are also taking the time to evaluate recruitment processes and workflow automation potential by hiring type.
Increased wages and scheduling flexibility continue to be the top two motivators for hourly job seekers.
While job and talent supply has become more balanced in 2024, there continues to be more available jobs then unemployed workers; however the available skills are not directly aligned to the available jobs and therefore re-skilling combined with internal mobility continue to be a focus for many organizations.
Organizations that have plans to expand internationally are seeing more budget being allocated to TA initiatives that specifically benefit geographic expansion. TA projects may fluctuate based on external cost pressures and teams are needing to remain agile in the face of shifting priorities.”
