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Recruiter.com Index Presented Reasons for Job Market Optimism

Company Updates

Recruiter.com Index Presented Reasons for Job Market Optimism

Jun 09, 2020 / by  Miles Jennings
Miles Jennings

The Recruiter Index® steers the world's largest recruiter platform

HOUSTON, June 09, 2020 (GLOBE NEWSWIRE) -- Recruiter.com Group, Inc. (RCRT), a leading hiring platform for the world's largest network of small and independent recruiters, announced the results of the Recruiter Index® for May 2020. Evan Sohn, Recruiter.com Group Executive Chairman, presented the results live on CNBC's Special Report: Markets in Turmoil, on Wednesday, 5/27/2020.

The recorded video presentation on CNBC is here: https://www.cnbc.com/video/2020/05/27/reasons-for-optimism-in-job-market.html

Evan Sohn, Executive Chairman of Recruiter.com, said, "We are glad that we were able to spot and report on positive trends in the job market ahead of the jobs report on Friday, which showed the economy gaining 2.5 million jobs in May and the unemployment rate declining to 13.3 percent, from 14.7 percent in April. Our hiring platform, with over 25,000 recruiters, gives us special insight into areas of business growth. We look forward to continuing to gather and use important job market data, as the country vectors toward re-opening.”

Recruiter.com's Recruiter Index Report revealed that across nearly every industry, surveyed recruiters are reporting upticks in job requirement loads — and predicting further improvements over the coming months as the economy re-opens. A clear majority of surveyed recruiters across industries — 60.4 percent — believe their job requirement loads will increase in the next 90 days, compared to 38.5 percent in April.

Job Market Perception

  • In April, only 16.4 percent of recruiters said they felt the job market was staying stable or improving. Today, that number has jumped to 41.3 percent.
  • In April, the average recruiter was working on 12 jobs. That number jumped to 15 in May.

Industry

  • Recruiters expect particularly robust recoveries in healthcare (89 percent see demand increasing in the next 90 days) and IT (72 percent).
  • Sixty percent of recruiters in construction expect growing demand in the next 90 days, while 67 percent of recruiters in manufacturing said the same of their vertical.

Recruiter.com Group, Inc.
Recruiter.com is a hiring platform for the world's largest network of recruiters. We empower businesses to recruit specialized talent faster with virtual teams of recruiters and AI job-matching technology. Visit https://www.recruiter.com.

For investor information, visit https://www.recruiter.com/investors.html.

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Company Contact:
Recruiter.com Group, Inc.                  
Phone: (855) 931-1500

Investor Relations:
Victor Roberts
RedChip Companies, Inc.
Phone: (407) 571-0909
victor@redchip.com

Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected positive trends in the job market, an anticipated increase in the job requirement loads in the next 90 days, expected robust recoveries in the healthcare and IT segments, and expected growing demand in the construction and manufacturing segments of the recruitment industry. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index survey, the impact of the COVID-19 pandemic on the job market and the economy, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2019. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

Tags: corporate, investors, shareholders

Written by Miles Jennings

CEO of Recruiter.com