Optimal Sales Search’s Post

Employment and Workforce Executive Director William Floyd’s Statement- May 2024 Employment Situation “In May, employers reported an increase of 3,300 in payroll, and the number of employed rose by about 2,000 people, continuing the record climb to 2,406,502. The labor force also grew by nearly 6,000 as more people entered the workforce looking for employment, with the labor force participation rate holding at 57.2%. While still low, the unemployment rate ticked up to 3.4% from last month's estimate of 3.2%,” said S.C. Department of Employment and Workforce (DEW) Executive Director William Floyd. “The Federal Reserve raised interest rates in 2022 and 2023 aimed at reducing inflation. The state’s unemployment rate might now be reflecting the result of those actions, and we see this in the national numbers as well. We will continue closely monitoring our state’s unemployment rate.” “When working with jobseekers, we frequently see that unemployment leads to opportunity. South Carolina has the fifth-highest job opening rate in the country. Business is booming with new and expanding needs. And there are schools, training programs, assessments, and more to help jobseekers pivot their skills to fill these jobs,” said Floyd. “South Carolina’s dynamic employment landscape is ripe with prospects and career growth, and the resources of the SC Works centers are ready to help connect individuals looking for work with businesses actively hiring,” concluded Floyd. https://lnkd.in/eH5MD95C

In September, private-sector employment increased by 143,000 jobs, and annual pay grew by 4.7%! 📈💼 #EmploymentGrowth #JobMarket #WagesUp #HiringTrends #Workforce #Business #LaborMarket #JobGrowth #CompensationTrends #HRInsights

ADP® National Employment Report Private employers added 99,000 jobs in August 2024. The labor market continued to cool in August. Job creation among private employers slowed for the fifth straight month. Let's see how inflated the DOLS reports will be for August. Remember, they will always go back and adjust them down by thousands. But, not until after the election 🙄 😒 #opentowork #jobseekers #jobless #greenbannergang #unemployment #unemployed #underemployed

In May, the private sector added 152,000 jobs, with annual pay growth up 5% year-over-year, according to ADP. However, hiring slowed, particularly in professional services and manufacturing. Small businesses lost 10,000 jobs, while medium and large businesses saw gains. Pay growth for job-changers declined for the second month. ADP anticipates increased part-time hiring over the summer, reflecting economic uncertainties. Overall, the report indicates a mixed but steady job market. Read more: https://lnkd.in/dmkQMDbe

Here's some good news! A July, 2024 national employment report indicates that private sector employment increased by 150,000 jobs in June - and annual pay was up 4.9%! https://lnkd.in/gfDWuW6C #EmploymentGrowth #JobMarket #EconomicUpdate #PrivateSector #JobIncrease #WageGrowth #GoodNews #EconomicGrowth #Workforce #JobsReport #EconomicTrends #NationalEmployment #PositiveTrends

ADP: Solid Job Gains in February as Employers Add 140K Jobs, Pay Rises 5.1% Annually The number was a little shy of expectations but a gain from January. Full article here: https://lnkd.in/dUJCSpZq

Encouraging news for the start of Q3! If you are looking at how to finalize your staffing needs for the remainder of 2024, please reach out and see how we can support those needs.

💼 Hiring Insights The ADP National Employment Report released yesterday, new jobs were up a mere 122,000 with pay gains continuing to slow. Let’s drill into their Indiana numbers for July: ▪ Median pay was $56,900 ▪ Median pay change was 5%; manufacturing was a bit lower at 4.7% Manufacturing’s 4.7% pay change has maintained that rate for 3 months; down from 5.7% in July 2023 and 7.6% in July 2022. This is good news for those hiring! Earlier this spring we saw the average climb to nearly 10% for job changers. Because of this you likely experienced declined offers and/or equity issues in pay grades within your teams. Possibilities for August? ▪ Flatlining pay change rate should provide relief in the offer negotiation and acceptance stages of your hiring process.  ▪ Increased August hiring brings challenges in recruiting qualified candidates. Fewer resumes with even fewer that meet qualifications. This is the ideal time to add muscle to your talent acquisition strategy to get ahead of any increases we may see as hiring gains in August. DM to learn more about leveraging our services. #Recruitment #talentAquisition https://lnkd.in/ebtH3PGp

As we head into historically peak months for added jobs, August is the ideal time to leverage our services to push you ahead of your competition as you compete for talent. Message me to discuss how we can support your recruitment strategies! #Recruiting #RecruitmentStrategy #JobMarket

Looking for good news to kick off the week? "The average pace of hiring has accelerated over the last three months after slowing late last year, almost matching gains made in the first half of 2023," according to ADP's National Employment Report for April. Pay growth continues to slow. Read the full report and view the infographic of jobs added by company size and industry sector: https://lnkd.in/eG_5Rkji