69,000 new jobs added in May really is a pathetic number. This is not great news for those of us in recruiting, but not for the reasons most people see it as a bad report.
The long-term unemployed problem in this country continues and it’s going to continue for a long time. It’s a serious societal issue and it does affect us all. However, we have seen recruiting conditions improve quite a bit with the increased profitability of companies coming off of The Great Recession. Profits are great and this continues, but companies have made themselves highly profitable with fewer employees. They still need key employees and that is why recruiting is in pretty good shape.
The bad news is that the great boom ahead for us has not started. When enough new companies and divisions of companies ramp up to levels that make a real dent in the jobs numbers, the big surge we are looking for will begin. I believe this will happen and it is just a matter of when. Lots of people, new technologies, and rising economic status of more nations and people around the world make it pretty certain that we’ll see a big surge in new companies and industries and a phenomenal period for business and for recruiters.
Not happening yet though.
Todd Kmiec and Associates