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The latest Ledgent Technology news, tips and information on technology trends that affect you.

BLS Update: Employment grew by 266,000 in April, falling short of estimated 1 million

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This entry was posted in Business Clients by .

April 2021 saw 266,000 jobs added with leisure and hospitality leading the way with job gains, according to the U.S. Bureau of Labor Statistics (BLS). The national unemployment rate held relatively unchanged at 6.1%. The unemployment rate for college-degreed workers fell to 3.5% from 3.7% the month prior.

The leisure and hospitality sector continues to see the largest gain with 331,000 jobs added as the country continues with vaccinations and people are easing back into activities. Additionally, there was a slight increase in employment in social assistance, which rose by 23,000. Much of that increase was in child day care services, potentially a result of reopening and returning to the workplace.

Key highlights from the latest BLS report:

  • With 9.8 million currently unemployed, the unemployment rate, at 6.1% remained little changed in April.
  • The unemployment rate for those with a bachelor’s degree or higher is at 3.5% vs. 3.7% the month prior.
  • Data for April suggest that the rising demand for labor associated with the recovery from the pandemic may have put upward pressure on wages
    • Average hourly earnings for all employees on private nonfarm payrolls increased by 21 cents to $30.17, following a decline of 4 cents in the prior month.
    • Average hourly earnings for private-sector production and nonsupervisory employees rose by 20 cents to $25.45.

Jobs Added by Industry:

  • Largest gains continue in leisure and hospitality 331,000 jobs added which includes amusements, gambling and recreation (+73,000)
  • Government added 48,000 jobs
  • Other Services added 44,000 jobs
  • Financial Activities saw 19,000 added jobs primarily in real estate and rental leasing
  • Healthcare and Social Assistance added 18,500 jobs
  • Wholesale trade added 7,800 jobs

What are your long term or short-term business needs and objectives – and how can we help? We’re connecting with top talent daily across industries and would like to be a resource for you.

Whether you need temporary staffing or help with direct hiring, or just have questions about trends in the local market and salary insight, schedule a 1:1 chat with your Ledgent Technology representative to discuss your needs. Find your nearest branch today!

Are you maximizing the value of your staffing firm?

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This entry was posted in Business Clients by .

You may only call on your staffing firm when you have an open role to fill, but are you really maximizing the full potential of this important relationship?

Here are some key ways to make sure you’re getting the full value a great recruiting firm – like Ledgent Technology! – has to offer:

EXPAND YOUR REACH

Working with a recruiting firm opens the door to a whole pool of candidates you might not otherwise know about, giving you a far better chance of finding the best fit for your organization. We have access to sophisticated search tools within the top job sites to find and connect with top talent and passive candidates.

STAY TOP-OF-MIND

Whether you’re hiring or not, review your recruiting firm’s current candidates and let them know what kind of candidates you always want to see. This keeps your company in front of top talent, making you more recognizable and reputable to potential employees.

SECURE GREAT TALENT FIRST

Don’t let unemployment data fool you! Unemployment within many professional positions is still well below 3%, making it difficult to secure top talent before someone else does. A great recruiting firm will help you stay on track with frequent communication in order to help you fill a position quickly and mitigate losing a candidate to competing offers.

GET JOB BOARD SAVVY

Recruiting firms recognize that staying in front of potential talent is critical. You should have a job board presence – we point our customers and candidates to ZiNG, a FREE job board that keeps you top of mind with talent … while supporting pet rescue every time a candidate completes a profile!

BECOME A TOP EMPLOYER

Attracting and retaining great talent should always be a high priority. A recruiting firm can help you with solutions to position your organization as an employer of choice for the best candidates.

LEARN FROM THE EXPERTS

Hiring is what we do! Good recruiting firms are in-the-know when it comes to local and national employment trends. Stay informed by meeting regularly with your recruiting partner – they can help you really understand the ins and outs of the local hiring market.

Paying Employees Too Little Will Cost Too Much [infographic]

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This entry was posted in Business Clients, Infographics by .
Here’s just one glaring example of how paying higher wages/salaries can actually save your organization money!
Costco Avg. Hourly Wage
$17.00
Turnover Rate
17%
Turnover Cost (YRLY)
$244M
2019 Revenue
$43B
Operating Proft/EMP.
$21,805
Sam’s Club Avg. Hourly Wage
$10.11
Turnover Rate
44%
Turnover Cost (YRLY)
$612M
2019 Revenue
$37B
Operating Proft/EMP.
$11,615
If your organization does not pay competitively, it often results in people
leaving, and average costs to replace an employee include:
16% of annual salary for highturnover, low-paying jobs (earning under $30,000 a year). For example, the cost to replace a $10/hour retail employee would be $3,328.
20% of annual salary for midrange positions (earning $30,000 to $50,000 a year). For example, the cost to replace a manager making $40k would be $8,000.
213% of annual salary for highly educated executive positions. For example, the cost to replace a $100k CEO is $213,000.

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