I came across some fascinating statistics about how the employment landscape is shifting. Thought I’d share what’s happening in our industry right now:
## Economic Indicators
• Despite 2.5% GDP growth, staffing firm revenues are projected to decline 10% this year
• US companies cut 722,000 jobs last year (including 152,000 in tech)
• The economy gained 2.2 million jobs overall, but that’s half a million fewer than the previous year
## The STEM Paradox
• BLS projects 10.4% more STEM-related jobs by 2033
• Yet STEM employers cut roughly 150,000 jobs last year
• Many companies are simultaneously hiring and laying off (Intuit cut 1,800 workers while hiring for AI roles)
## Skills in Demand
• Skilled trade wages rose 7.3% vs. economy-wide employment costs at 4.4%
• The staffing software industry has grown to $19 billion as HR teams seek solutions
## The Transformation Challenge
• World Economic Forum predicts 23% of jobs worldwide will change substantially by 2027
• Globally, we’ll see 83 million fewer existing jobs, while 69 million new ones will be created
• Bain & Company reports 88% of corporate transformations fail
• According to Citrin Cooperman, only 38% of companies feel they’ve made significant progress on upskilling
• Nearly 90% of organizations are looking outside for technological talent
What strategies is your organization implementing to navigate this changing landscape? Are you seeing similar patterns in your sector?
#WorkforceTransformation #TalentTrends #FutureOfWork #RecruitmentInsights
