Insights and Predictions From the Recruiters, HR Professionals, and Talent Acquisition Experts on the Front Lines of the Job Market Today
Job Market Overview
The average recruiter sentiment increased for the second month in a row, jumping up to 3.6. Although recruiter sentiment increased, recruiters reported the average amount of roles they are working on took a dip down to ten in August.
Candidate Close Up
Candidate sentiment rose to the highest level recorded in the past year, increasing for the second month in a row to 3.8. The August index reported a big increase in the volume of applicants per role this month, jumping 20 percent since July and 112 percent since June.
After months of in-person roles overpowering hybrid and remote positions, hybrid roles took over the number one spot. Although they are the most common type of position recruiters are working on, the split between in-person, remote, and hybrid is fairly even.
Our Recruiter Index tracks how many of the roles recruiters are working on are backll vs. new roles. For the second month in a row, only six percent of recruiters said that 100 percent of the roles they were working on were brand new roles.
Compensation remained the number one priority for candidates in the market for a new job, followed by remote work and work/life balance. Management had a slight lead over compensation when it came to reasons candidates were leaving their current job. Remote work witnessed a slight increase this month when it came to reasons candidates were leaving jobs, increasing 20 percent since July.
The August Recruiter Index showed that of the candidates recruiters are talking with 30 percent reported that half to 75 are currently employed. While keeping the job hopper economy in mind, 47 percent of prospective candidates have had two jobs over the past two years.
Half of the recruiters surveyed reported salaries increasing this month, holding steady since July. In terms of specific salary ranges, we saw increases in the ranges $40K-$80K (+9 percentage points) and $100K-$150K (+2 percentage points).
Most Active Industries
We asked recruiters across all verticals to identify the top three industries where demand for talent was highest in August.
Architecture / Engineering increased to the number one spot this month with 35 percent of recruiters naming it the most in demand industry.
After a massive drop last month IT / Software Engineering bounced back up to the number two spot followed by automotive and recruiting / staffing.
Key Takeaways
- Recruiters worked on an average of 10 open roles in August, witnessing a decline from July.
- The average recruiter sentiment by month is calculated by asking how recruiters feel about the current job market. This month it continued its upward trend to 3.6
- Candidate sentiment, a measure of how open candidates are to new roles, increased to 3.8 - the highest it has been all year.
- After a slight decrease in in-person roles last month, the August report shows that hybrid roles have officially taken the lead with positions recruiters are working to fill.
- Only six percent of recruiters reported 100 percent of their roles being brand new.
- Compensation and management continued to be the number one priority for candidates looking for a job and the number one reason for leaving a job, respectively.
- After a large dip in July, IT is back up to the second most in-demand industry.
- Architecture/engineering claimed the number one spot this month, with 35 percent of recruiters naming it the most in-demand industry.
