What Will U.S. Hiring Look Like in Q2? Check Out the New Job Forecast
- April 7th, 2014
- 3 Comments
It may be hard to predict what we feel like eating for dinner tonight, but thankfully we’re able to forecast what the hiring landscape will look like in the second quarter of 2014.
According to a recent CareerBuilder survey of more than 2,000 hiring managers and HR professionals, U.S. hiring is expected to remain consistent with what we saw last year this time.
“While employment has not yet reached an ideal level, the U.S. is moving closer to the tipping point for substantial job growth. The economy is expanding, the housing market is recovering, consumer confidence is up and companies are starting to tap into cash reserves to invest – these are all good signs. As these trends strengthen, we expect hiring to hold steady in the second quarter and gain ground in the back half of the year.” - Matt Ferguson, CEO of CareerBuilder and co-author of The Talent Equation
Here are a few highlights from the Q2 job forecast:
Temporary hiring gets a (tiny) boost.
About 1 in 3 employers (33 percent) say they’ll hire temporary or contract workers over the next three months, up from 32 percent this time last year. Some good news: More than a quarter of employers (26 percent) plan to transition some of these folks into permanent employees; up by 2 percent from last year.
Full-time hiring remains level, but that’s not a bad thing.
More than 1 in 4 employers (26 percent) intend to add full-time, permanent staff in the second quarter of this year. That’s about the same as last year, but the number could improve considering these are conservative estimates.
More than 2 in 5 employers (41 percent) say there will be a 3 percent or less increase in compensation; nearly 1 in 3 (31 percent) don’t expect a change at all; and only 3 percent anticipate a drop in compensation.
Manufacturing is king.
The big winner in our forecast is manufacturing, as employers in this industry surpassed the national average for adding full-time, permanent staff by seven percentage points. Other industries that are expected to lead in terms of hiring for the second quarter include IT, financial services, professional and business services, and health care.
Read the full forecast here, and share it with your peers or flip through the pages below.