2015 ‘By the Numbers’ – A Look at the Year in Review

As 2015 comes to a close, we pulled key data points to illustrate the state of our jobs market.

 

We found that:

 

 

 

  • The BLS released its Occupational Outlook handbook which predicts that jobs in healthcare and social assistance, professional and business services, leisure and hospitality, and construction will see growth over the next several years, while jobs in manufacturing and federal government will decrease.

 

  • Employers estimate wages will increase by an average of 3 percent in 2016, compared with the average annual increase of 2 percent that we’ve seen for the past five years, according to this Bloomberg article.

 

  • Private-industry employers in New England spend an average of $37.64 per hour worked on employee compensation, compared to the national average of $31.53 per hour worked. Wages and salaries accounted for 70.5 percent of New England employers’ total compensation costs, while benefits accounted for 29.5 percent.

 

  • Nearly half (49 percent) of U.S. employers continue to seek workers with skills in STEM (science, technology, engineering and math) and 55 percent said finding the right talent remains a challenge, according to a recent quarterly survey.

Nationally, Job Growth Remains Slow

Last week’s national unemployment figures caused concern across many groups. Although 2012 started off well, the past few months have not produced sustained job growth and the most recent report – for the May unemployment figures announced last week – showed an increase for the first time in almost a year. In Massachusetts, the outlook is better, but employers are still cautious. PSG President Aaron Green comments on the local jobs market in this Boston Globe article.

PSG’s Aaron Green Talks to NECN about Massachusetts Hiring Forecast

PSG President Aaron Green was a guest on last night’s NECN Business show. Aaron was invited to be interviewed about the release of PSG’s most recent Quarterly Human Resources Survey. He spoke about the Massachusetts employment environment with NECN Business anchor John Daly and highlighted an increase in hiring and recruiting locally. PSG’s quarterly human resources survey details Massachusetts employment trends based on client survey results. In the survey PSG asks clients for their responses to questions about hiring and staffing, salary and compensation, concern over retention and recruiting talent and budgets for HR spending.

To request a copy of PSG’s survey results please contact your PSG representative or call us (at 617-250-1000) or email info@psgstaffing.com.