Sure, the job market may have cooled over the summer months, but it still remains strong and resilient. U.S. employers continue to add jobs — roughly 187,000 jobs were added in July. While that number falls short of expectations, it’s still solid. The unemployment rate dipped to 3.5 percent, close to a half-century low, the Labor Department Reports.
So what do candidates think about navigating the job search in this economy?
In ForceBrands’ Consumer Talent Compensation and Job Market Confidence Trend Report, we uncover compensation and job market confidence trends and their impact on employee attraction, retention, and workplace attitudes. We surveyed more than 1,000 workers across various industries and demographics in the U.S.
Our findings reveal that employees are confident in this job market despite economic uncertainty.
Read on for some highlights from our report as it relates to employee confidence trends.
How job seekers feel about the job market
Our survey findings revealed that a quarter of respondents were in new jobs, primarily by choice. In other words, candidates are making moves even amid economic uncertainty.
The majority of survey takers — 73 percent — are confident that they could land a new job in the next year if they wanted to.
What’s more is that nearly half of the respondents believe they are in a power position over employers when it comes to landing the compensation and benefits they want in their next role.
Despite the fact that 75 percent feel anxious about the economy, employability confidence is high.
It’s still very much a candidate-driven market.
Talent is on the move, and for good reason
Perhaps one of best indicators of a strong job market is an active, mobile talent pool. Almost half (44 percent) of survey respondents plan to leave their employer in the next year. Of these, 8 in 10 are highly confident in their chances of landing a new job.
And there’s good reason for this mobility in the market.
According to our report, half of respondents received less than a 5 percent raise in the last year and 70 percent didn’t receive their bonus. And it doesn’t help that 60 percent of those we polled are dissatisfied with their compensation, 80 percent are unhappy with their employer, and 60 percent would not recommend their employer to others.
It’s a tale as old as time: when compensation doesn’t meet expectations, employees are more likely to seek greener pastures.
Discover more insights about today’s talent as it relates to compensation and job market trends in our report.
ForceBrands offers end-to-end hiring solutions for all stages of growth. Whether you’re just starting to hire or are looking for the next step in your career, we’re here to help you be a positive Force that makes an impact.