5 takeaways from CareerBuilder’s Q2 job forecast
Find out some of the top results from the latest study and what they mean for you, the job seeker.
While a certain celebrity "couple" may have tricked you with their elaborate (and slightly creepy) April Fools' Day joke, we promise we aren't pranking you with our latest jobs forecast. According to the new CareerBuilder study, one-third of employers plan to add full-time, permanent employees over the next three months.
So what does this hiring forecast mean to you? Here are five key takeaways:
1. Permanent hiring up from last year
Permanent, full-time hiring is up two percentage points from Q2 2015 (34 percent vs. 32 percent). Seven percent of employers expect to decrease staff, down slightly from 8 percent last year.
What this means for you: This is good news for active job seekers who are looking to find employment over the next few months. So if you're seeking a full-time job, keep pounding the pavement this spring, and hopefully the right opportunity will come your way.
2. Certain industries to exceed the national average
The health care industry continues to hire at a healthy rate, with 44 percent of health care employers planning to add permanent staff in Q2. Other industries expected to match or exceed the national average for adding full-time headcount include financial services (42 percent), leisure and hospitality (41 percent) and information technology (40 percent).
What this means for you: If you're looking for a job in any of these industries, this is a good time to be aggressive in your search. And if you're contemplating a career switch, consider making a move to one of these industries demonstrating strong job growth.
3. Temporary hiring continues to be popular
Thirty-seven percent of employers plan to hire temporary or contract workers in the second quarter, on par with 2015. Thirty-three percent plan to transition some contract or temporary employees into permanent ones in Q2, up from 31 percent last year.
What this means for you: Many companies are continuing to rely on temporary or contract workers, allowing for a more flexible workforce. If you're looking to try out a certain career, temporary work could be a good option for you. The bonus is that oftentimes these roles can become permanent, so if you make an impact at the company, you could be looking at a full-time position in the near future.
4. Companies of all sizes are ramping up hiring
Forty-one percent of companies with more than 500 employees plan to increase the number of full-time, permanent staff in Q2, up from 38 percent last year. Twenty-nine percent of organizations with 250 or fewer workers except to increase the number of full-time, permanent staff in Q2, up from 27 percent last year. Of those companies surveyed with 50 or fewer employees, 24 percent plan to increase the number of full-time, permanent staff in the second quarter, up from 23 percent in 2015.
What this means for you: While larger companies may be hiring at a faster rate, small- and medium-sized businesses are continuing to display confidence when it comes to adding staff. If you're looking for employment, don't forget to factor smaller businesses into your job-search mix. Working at companies with fewer employees often means more opportunities to take on bigger projects and build relationships with company leaders.
5. Compensation remains competitive
Twenty-five percent of employers expect to boost salaries by at least 5 percent over the next few months. Forty-four percent anticipate there will be an increase of 4 percent or less.
What this means for you: As the economy continues to improve, companies may be feeling increased pressure to become more competitive with compensation. If you're up for a promotion or raise, make sure you go into your quarterly review with a strong case (and concrete evidence) for why you deserve one, and you just might come away with a bigger paycheck.