September Job Market Updates: Shaker’s Take

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The challenge of finding available job candidates continues as the labor market contracts with an unemployment rate of 3.5%, the lowest rate since December 1969 – a fifty-year low! A broader measure of unemployment that includes discouraged job seekers and part-timers who would prefer to work full-time fell to 6.9%, 4,400,000 workers.

At the same time, we are currently seeing a 3.5% overall growth rate in jobs annually, with a total number of open jobs at about 6 million. Furthermore, the labor force participation rate held at 63.2% in September 2019, with those never having held employment before up by 15.2%. More than 80% of Americans between the ages of 25 and 54 are employed, the highest level since 2007. All in all, we have had 108 months of continued job growth.

Check out the infographic below for more information about the September job market changes.

For the long-term, many of our clients are prioritizing strategic options for maintaining a highly visible, continuously evolving employer brand while utilizing techniques to customize messaging to specific talent pools to create a steady source of candidates to fill crucial positions from highly-skilled to semi-skilled and entry-level. For consultation, contact us at info@shaker.com.

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Mike Temkin

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