Just as summer is heating up, a new batch of economic data suggests the labor market is continuing to cool down. The number of job openings fell slightly to 8.1 million in April, according to Bureau of Labor Statistics (BLS) data released on June 4, the lowest level since February 2021. Meanwhile, companies added 152,000 jobs to their payrolls in May, fewer than analysts expected, ADP reported June 5. The BLS June 7 jobs report painted a more rosy picture, with employers adding 272,000 jobs in May, but unemployment rose to 4%, suggesting Americans returning to the workforce were not able to find jobs.

Workforce solutions firm Manpower also projected that employers will slow hiring over the next quarter, according to a new report released on June 11. Manpower found a positive net employment outlook (NEO) of 22% in Q3 2024, a 6-percentage-point drop from the same period last year. The Manpower data draws on a survey of more than 40,000 employers across 42 different countries. Among US employers, the NEO was +30%, down 4% from the previous quarter. “What this really means is, the job market is starting to moderate a little bit, cool a little bit,” said Rajesh Namboothiry, SVP with Manpower US. “It is still resilient, but it is slowing down a little bit.” In the US, the fact that interest rates are holding steady is likely factoring into employers’ decisions not to make any major hires, he added.

AI adoption. Even as some employers hold off on hiring, the AI boom is affecting how they’re thinking about future talent acquisition, the Manpower report suggested.

Keep reading here.—CV

For the first time in modern history, up to five generations are working side by side in today’s workforce. This evolving talent landscape is due in part to influences like COVID-19, inflation, and social movements—aka a whole bunch of status-quo shakers.

Flexible leadership and tailored employee experiences are crucial. Protiviti explores this robust topic in their white paper: Motivating the Multigenerational Workforce of 2030.

With millennials and Gen Z comprising a large chunk of the workforce, it’s important to understand and leverage every generation’s unique contributions (without falling for generational stereotypes).

Equally valuing and elevating the potential of each generation is a key determinant of success for organizations today—and tomorrow.

Read all about it.

We’ve heard a lot in recent months about the trend toward skills-based hiring, but are HR managers actually hiring candidates based on their skills?

Well, it seems the jury is still out, but 65% of US hiring managers say they’re at least open to hiring candidates based on skills instead of work experience, according to a Resume Genius survey. And while 47% consider education to be “important,” just 25% view it as “essential.”

The report also found that 48% of respondents wouldn’t hire a candidate who didn’t have the necessary soft skills for a role. Geoffrey Scott, senior hiring manager at Resume Genius, agrees with this strategy. He believes that managers should prioritize soft skills over degrees or job titles.

Finding skills. When recruiters and hiring managers read résumés or cover letters, Scott said, they’re not always able to gauge candidates’ full skill sets. One way he tries to dig deeper is by asking about hobbies and interests. He said these questions often get candidates to “open up” and let their softer skills shine.

Keep reading here.—MC

Welcome to HR 101. Class is now in session. Today’s discussion will focus on the history of LGBTQ+ rights in the workplace.

The history. During the Cold War, the US Senate considered gay government employees a threat to national security (insert eyeroll here). As such, President Eisenhower signed executive order 10450 in 1953, prohibiting members of the LGBTQ+ community from federal government and military employment. (It was eventually repealed by President Obama in 2017.)

Following the passage of the Civil Rights Act of 1964, LGBTQ+ activists began to push for workplace rights, according to the New York Public Library, protesting outside several government and military buildings—including the Civil Service Commission, the Pentagon, and the White House—for their right to work within these institutions.

In January 1975, the first federal gay rights bill addressing workplace discrimination based on sexual orientation was introduced in Congress. It was sent to the Judiciary Committee, but never considered, according to CNN. Seven years later, Wisconsin became the first state to outlaw discrimination based on sexual orientation, CNN noted.

Keep reading here.—AS

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