The thriving U.S. job market has added 164,000 jobs in April alone making the unemployment rate 3.9%, the lowest it has been in 18 years; however, the wage growth remains sluggish at only 2.6 percent for the third month in a row. According to U.S. senior economist, Michael Pearce, to Reuters, “We expect faster wage growth will prompt the Fed to raise rates three more times this year.”
Employment in heath care, manufacturing and construction contributed to the unemployment rate low, however the necessary skill of workers continues to make it difficult to place specific job openings.
Competition is making it such that providing an aggressive initial offer is crucial to securing top talent along with providing a smooth on-boarding process to ensure new employees feel the love from the start in an effort prevent unnecessary turnover. If you ever have questions or need a leader to handle your job placement needs, contact Avalon Staffing Solutions.