November 3, 2023, Cleveland, OH — AMS, the global talent solutions business responds to latest US Bureau of Labor Market statistics. In September, the US economy added 150,000 new jobs against the forecasted growth of 170,000 jobs as the market continues to evolve with macro-economic challenges and sustained talent challenges.
Commenting on the latest statistics Nicky Hancock, Managing Director, Americas Region at AMS said: “In the final months of the year, while hiring continues to be in a state of change, it is an important area of focus and opportunity for many businesses heading into 2024. Some organizations are experiencing less job openings, while others continue to expect demand.”
“For example, in the Investment Banking sector, volumes are forecasted to return in the second half of 2024. And as companies are treading lightly with recruiting, many are asking us to prepare models to scale for them and to help reduce costs, once hiring accelerates.”
“The Life Sciences sector has seen less job openings than average. Nonetheless, talent remains in short supply. Contingent labor is steady and we expect demand for professional contractors to reduce in line with typical seasonal norms as we near the holiday period which is historically a quieter period.”
“In this unpredictable talent acquisition environment, there are still key areas organizations are researching and capitalizing on. As companies prepare for what’s next in their talent acquisition, topics of interest include candidate quality, exploring AI and skills-based hiring as well as looking at recruitment solutions with a tech-enabled lens.”