April 2019 Jobs Report: Unemployment Lowest in 50 Years
According to the BLS Jobs Report and national news sources the April 2019 unemployment rate was at it’s lowest in 50 years. The economy added almost 263,000 jobs, bringing unemployment down to 3.6%, exceeding analyst predictions.
As the jobs report states, the some of the largest employment gains since April of 2018 are in professional and business services. On the losses side were electronics, department stores and commercial banking.
Recognize What the Jobs Report Figures Mean for Employers
As reported by the BLS Jobs Report, there are now more jobs open with fewer available job seekers. Employers are competing in a market where the best and brightest job candidates quickly find desired positions. Ask yourself these questions:
- Will new college graduates bring any value-added skills and qualities to your organization?
- Is my business willing to be flexible regarding job requirements that new grads may not have yet attained?
- Are your recruiting and hiring methods keeping pace with the expectations of today’s job candidates?
Add Up the Benefits of Hiring New Grads
There’s now a fresh batch of well-educated college graduates looking forward to embarking on their careers.
- They bring enthusiasm and motivation to all work sectors.
- They are interested in learning, tech savvy, and attuned to high-pace settings.
- As a whole, they are creative, often thriving on group-think focus for problem-solving.
- They are ‘quick studies,’ able to grasp new material and add fresh perspectives to the work at hand.
- They are rather new to professional workplace settings, requiring little ‘retraining’ time to adapt to your organization’s culture and methods.
Review Organizational Recruiting and Hiring Policies
Assess your organization’s recruiting tools and practices to assure you are keeping pace with employee interests. Revise if needed as the new batch of college graduates will be attracted to the positions you have when they:
- Learn that your organization is innovative, encouraging employee ideas and engagement.
- Hear about the projected growth of your business, with the potential for internal advancement.
- Realize that you offer a range of benefits and perks that include work flexibility, continuing education, and a positive work/life balance.
- Become aware of the transparency and mutual respect embedded in your company’s culture.
Hiring Mangers, to ensure that the salary you are offering is competitive, download the 2019 DLC Group Salary Guide for compensation data on the top accounting and financial positions.
Click here to find out how Beacon Resources can make your hiring process easier.