AUSTIN, Texas – May 6, 2015 – Proprietary research issued today by Indeed, a global job search engine, illustrates the benefits to job seekers and mounting challenges faced by employers as the employment outlook in the US improves. The research also illustrates the fierce competition for talent in the technology and healthcare industries, and highlights job seekers emerging preference for remote and part-time employment.
“It’s somewhat of a good news, bad news story,” said Tara Sinclair, Indeed’s Chief Economist and author of the report, The Talent Driven Economy: Emerging Interests of Today’s Job Seeker. “We’re starting to see workers gain ground in the US as the unemployment rate declines. However, employers are facing stiff competition for talent and need to keep abreast of rapidly-changing hiring trends, such as the increased preference for part-time and remote work.”
The report draws on data from the Indeed job site. During a given month, 180 million unique visitors come to Indeed, and over 16 million jobs are listed. Indeed’s data offers a window into the behavior of both of these groups.
In 2009, during the midst of the recession, the job market looked bleak with 6.2 unemployed job seekers for every opening. Today, economic conditions have improved with 1.7 unemployed job seekers for every opening and unemployment below 6% for the first time in six years.
“As a result of more options and the ability to be more strategic, job seekers have become more selective when accepting an offer,” said Sinclair. “This dynamic has created a war for talent as employers compete for fewer workers. This is especially true when it comes to highly-skilled candidates.”
One of the job seeker themes in the report is the importance of a college degree or certification. As work becomes more specialized, employers are increasing looking for workers with unique technical skills. The report indicates that this skills gap is particularly acute in the technology and healthcare industries. Six out of 10 job searches on Indeed are for technology jobs, and in 2014, employers added an average of 26,000 jobs a month to the healthcare field.
The research also indicated the job seekers are searching for more “part-time,” “work-from-home,” and “remote” opportunities. Indeed researchers expected part-time work to increase during recessionary periods but were intrigued to find that the demand for flexible work has continued to rise in a post-recessionary environment.
“With job seekers and employees of all types, from baby boomers to millennials, in the driver’s seat, flexible schedules are becoming an essential part of the job selection process, “ Sinclair noted. “For baby boomers who are working later into life, having a flexible schedule is ideal. Millennials see increased flexibility as a way to pursue diverse hobbies and interests. Employers who incorporate and embrace this trend can maintain access to a wider pool of talent.”
The full report is available here.
About the Hiring Lab The Hiring Lab is Indeed’s proprietary research arm. Headed by Tara Sinclair, Chief Economist at Indeed and Economic Professor at George Washington University, the Hiring Lab examines emerging job trends. The Talent Driven Economy: Emerging Interests of Today’s Job Seeker is the fourth Hiring Lab report issued by Indeed. Previous reports include:
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