Seventy percent of engineers say recruiters are one of the most common ways they hear about new opportunities. Friends, social media, former co-workers, nothing ranks higher than recruiters for new job information, with the very narrow exception of job boards. But with only 71% giving them the edge, it’s a statistical dead heat. And, when you consider how accessible and ubiquitous the posting sites are, recruiters must be doing something right.
This morning employment numbers from the U.S.Department of Labor said temp agencies added 24,400 jobs during the month, more than any other single sector, surpassing even the typically strong healthcare industry, which added only 9,500 new jobs.
February’s report came in well above the 150,000 jobs that most surveys showed economists were expecting. Unemployment ticked up to 6.7% from January’s 6.6%.
Most of the workers of the world who visit LinkedIn are open to a new job and, in the U.S. 43% of them are open to talking to recruiters. Even the ranks of the super passives are in decline, dropping 25% globally (from 20% to 15%) since a survey in 2012.
In the largest survey the business networking site has undertaken, more than 18,000 LinkedIn visitors shared their attitudes about job prospecting and career satisfaction. Several hundred from each of 26 countries participated, in many cases expressing very similar feelings about how actively they are looking for a new job and what it is that would prompt them to make a switch. (The full report is available
ADP’s National Employment Report says the economy added a meager 139,000 new private sector jobs in February, well below the 155,000 to 160,000 consensus estimates of labor analysts.
The report, which included annual revisions to previous ADPs reports, adjusted January’s private sector numbers to 127,000 from an initial 175,000.
The justices agreed to hear a FLSA suit against Amazon’s temp worker provider Integrity Staffing Solutions over whether workers should be paid for the time they spend going through company security on their way home.
Two former employees provided by Integrity who worked at Amazon’s two Nevada warehouses sued the retailer’s staffing firm demanding to be paid for the 20-25 minutes it routinely takes them to clear the daily security check. Because the case was filed as a class action, it could affect many or most of the estimated 38,000 temps at Amazon’s three dozen U.S. warehouses and distribution centers.
Mark Thierman, a labor and employment attorney with Thierman Law Firm in Reno represents the workers. He says that with turnover, the number of potential class action participants could reach 100,000 and, if they should win, the cost could reach into the hundreds of millions.
The company announced it bought recruiting startups TalentBin and Gozaik. The terms were not disclosed, but whatever the deal, it isn’t large enough to trigger a disclosure filing with the Securities and Exchange Commission.
Nor did Monster say how it intends to integrate the companies.
“The acquisition of TalentBin and Gozaik completes one key component of a larger strategy designed to help our business grow,” said Sal Iannuzzi, chairman, president and chief executive officer of Monster Worldwide. “We look forward to sharing more details about these plans at our investor briefing event later this year.”
Bullhorn is out today with a survey of staffing and recruiting firms that is so full of useful and enlightening information it’s hard to know where to begin.
Here’s just a sample of what the 20 page report covers:
- 77% of the 1,337 firms met or exceeded their revenue goals in 2013;
- Revenue per recruiter at the smallest firms averaged $266,000; at the largest firms it was almost twice that;
- Owners, CEOs, and partners of retained firms earned, on average, $230,000 last year. Those heading contingent firms averaged $149,000. Recruiters at retained search firms averaged $84,000. At retained firms, they averaged $84,000;
Global job board operator Monster Worldwide reported a stronger finish to 2013 than analysts were expecting, beating their average earnings estimate by 5 cents a share and their revenue estimate by $3.4 million.
The company reported this m0rning it earned 11 cents per share versus the 6 cents a share analysts were predicting. Monster also offered a rosier outlook for the current quarter, forecasting it would earn between 6 cents and and 10 cents per share.
Wall Street liked what it heard, bidding up the stock by more than 20 percent to $7.13 a share just after the opening.
Snowy cold weather and a dose of post-holiday caution kept hiring softer in January than many economists were expecting. HR services company ADP and Moody Analytics reported this morning that 175,000 private sector jobs were created last month, 10,000 to 14,000 fewer than the average of analyst predictions.
The report sent stocks lower this morning, although other economic reports suggested there is more strength in the economy than this week’s deep drop in financial markets might suggest. The Institute for Supply Management, which helped set off Monday’s market decline with a weaker than expected manufacturing report, this morning reported its services index rose to 54 last month from 53 in December. The ISM’s services employment index was also up.