The latest jobs report from the US Department of Labor shows job growth exceeded expectations in October and year-over-year wage gains increased past 3% for the first time since the Great Recession. 250,000 new jobs were created, well ahead of estimates of 190,000, and the unemployment rate at 3.7% is the lowest since December 1969.
While job growth is normally a sign of a strong economy, if the unemployment rate continues to remain under 4%, employers will continue to struggle to find new hires. This is especially true for retailers looking to hire seasonal workers. As a result of today’s tight labor market, retailers are using an array of recruitment strategies to attract workers, such as raising wages, offering paid family leave, and providing career development opportunities.
Check out the following infographic for a snapshot of the latest US jobs report. And get a copy of Intro to Recruitment Marketing for tips and tricks to help you hire up to 3X as many qualified candidates in today’s tight labor market.