Wow! Unemployment Drops to 3.9%

Unemployment Rate 2018

Unemployment Rate 2018

Hiring continues to tighten in the US. The unemployment rate moved down to 3.9% in April, 2018, following 6 months at 4.1%. Not since the 1960’s, has the unemployment rate remained below 4% for a sustained period of time. Facing strong competition for talent, Human Resources and Talent Acquisition leaders are rushing to develop plans to find qualified, interested, and engaged job candidates to fill their job openings.

LineHire is finding that hiring managers are ‘rolling up their sleeves’ and getting more involved with the hiring process, especially at the front end of sourcing candidates. They’re not waiting for their HR Department to send them candidates. Hiring managers are the ones with the real pain when they have budget to hire but don’t have staff in-place. If you’re a hiring manager and have projects to complete, KPI’s to meet, deliverables to deliver, and you don’t have a fully staffed team behind you, then you are the one feeling the pain of low unemployment first-hand.

 

 

References:

US Department of Labor, Bureau of Labor Statistics, THE EMPLOYMENT SITUATION-APRIL 2018, May 4, 2018.

Bloomberg, U.S. Job Openings at Record, Almost Matching Unemployed Workers by Sho Chandra, May 8, 2018

New York Times, Unemployment Rate Hits 3.9%, a Rare Low, as Job Market Becomes More Competitive by Natalie Kitroeff, 4, 2018

Seeking Alpha, The Unemployment Rate And The Stock Market by Charlie Bilello, May 7, 2018

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