Job openings are at an almost seven-year high at the moment, making it harder for employers to find talent.
There are openings at manufacturers, leisure and hospitality companies, retailers and professional and business service providers.
The numbers are, in fact, quite remarkable:
In the 12 months ended in April, the economy created a net 2.2 million jobs, representing about 55.1 million hires and 52.8 million separations.
The figures indicate there are about 2.2 people vying for every job opening, considerably lower than the 6-1 ratio seen at the height of the 2008 recession.
So, how many jobs are waiting to be filled right now?
A whopping 4.46 million, the highest since September 2007.
Job openings, of course, help us measure the demand for labor. In a way, they also provide a measure of employer anxiety. After all, the longer a job sits vacant, the longer a company has to wait before launching its latest initiative or expansion plans.
As we all know, employers turned to staffing firms during the downturn when they were nervous about bringing on permanent employees.
The trend at the moment has employers turning to contract workers because of the labor shortage.
In other words, with workers in greater demand, our clients are increasingly relying on us to deliver the talent they need ASAP.
What a difference a recovery can make!
About the Author
Larry spent 16 years with Century Casino’s and was instrumental in the start-up and growth of the company through expansions in Canada, South Africa, the Czech Republic, Poland and on several cruise ships as well as in Colorado. He was most recently the SVP, Principal Finance Officer and COO of North American operations for Century Casinos Inc., a multinational, Nasdaq-traded gaming company. Earlier in his career, Larry worked at the Johns Manville Corp. Larry spent 13 years in various accounting and finance functions in the company’s fiberglass manufacturing division and was key in the start-up of a molding plant in Indiana. Larry and his wife Kathy and three children live in Colorado. He enjoys four-wheeling, motorcycling, golfing, skiing and brewing beer.