The Effects of Unemployment Rates

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The national unemployment rate fell as low as 4.3 percent during 2017 — the lowest level in 16 years. When it comes to hiring, companies are facing more competition to attract and retain the best talent. The economy is growing and more jobs are available. Job-seekers have more options in their search for employment, and employers are feeling pressure to increase compensation to compete in a market full of competition.

What does this mean for our clients? With an increasing number of employees enjoying a heightened sense of job-security, it can be even more challenging for companies to engage top-talent. This is a perfect scenario to call on the experienced recruiters of Shuart & Associates to assist you with a search. At Shuart, we have seen and felt the affects of the low unemployment rates in our industry. In the last year, we have seen many candidates turn down job offers to accept other offers from their competition.  We have also seen clients offering base salaries above the candidates desired salary to ensure long-term satisfaction and retention. At Shuart, we work hard to find you the best talent the market has to offer within your recruiting budget by providing you with the latest market data available.

What does this mean for our candidates? It is more important than ever to have a career coach helping guide you through your options to make the best decision for your career. We take the time to understand our client’s cultures, hiring patterns, retention, and long term growth. This is information that goes well beyond the interview process.

We also want our clients to be aware that temporary help is hard to find in a tight labor market. We always do our best to match the best possible available talent to temporary openings. In a market like this, we urge our clients to seize the opportunity to evaluate temporary hires quickly and turn the hire permanent if you feel you have identified a long-term fit for your organization. Talented individuals won’t stay available long in a market with these conditions!