Job Insights US Report: July – December 2022 Edition

Job Insights US Report: July - December 2022 Edition

New, third-party research sheds light on hiring trends for the second half of 2022.

To provide accurate and timely employment forecasts for business leaders, Express Employment Professionals commissions an ongoing Job Insights survey to track employment and hiring trends across a wide range of industries. The survey was conducted online within the U.S. by The Harris Poll on behalf of Express between May 3 and 23, 2022, among 1,003 U.S. hiring decisionmakers (defined as adults ages 18+ in the U.S. who are employed full-time or self-employed, work at companies with more than one employee, and have full/significant involvement in hiring decisions at their company). Data were weighted where necessary by company size to bring them into line with their actual proportions in the population.

Hiring Demand Continues Through Challenging Conditions

U.S. hiring decision-makers are more positive about the future of the workforce, with the most common feelings attributed to hiring in 2022 being positive (85%), hopeful (51%), and optimistic (49%). This sentiment is shown as their plans to expand their employee count stayed steady at 61% in the first half of 2022, as well as their expectations for the second half of 2022; reports of increasing employee counts are up from 50% in the second half of 2021. Only 5% reported they would decrease their workforce in the first half of 2022, while 3% expect this to happen in the second half of the year.

Inflation Affecting Wages, Revenue, and Future Gains

Companies have been faced with many challenges over the past few years. Unfortunately, there continue to be new issues companies face - most recently, a generational rise in inflation. Over the past two years, the inflation rate has increased to a level last seen in the 1980s. Nearly all U.S. hiring decisionmakers (92%) say their company has been impacted by this rise in inflation, with nearly two-thirds (65%) reporting it has had a major or moderate impact on their company.

Four in five (80%) U.S. hiring decision-makers also say their company is taking steps to make hiring easier - including offering higher starting salaries (33%) and hiring bonuses (29%).

Soft Skills Essential for Workers, Leading to Reskilling

In the search for potential applicants for their companies, U.S. hiring decision-makers commonly look for certain soft skills. Among the top skills deemed essential or very important are dependability (90%), communication skills (89%), and a willingness to learn (88%). More than 7 in 10 feel fitting the company culture (79%), creativity (72%), and/or leadership skills (71%) are also of high importance to them.

However, reskilling current employees has been continuing to entice U.S. hiring decision-makers since 2021. Nearly 4 in 5 (77%) would prefer to do so with their current employees for new roles before venturing outside the organization for brand new hires - 75% in the second half of 2021 and 2% in the first half of 2021.

The next several months are critical for business owners waiting for market conditions to somewhat stabilize," said Express Employment International CEO Bill Stoller. "From labor and supply shortages to high gas prices and soaring inflation, American business owners are understandably frustrated right now," he added. "Now is the time to consider making changes in your business to keep moving forward."

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The Irvine Express office is located at 13700 Alton Parkway, Suite 156 Irvine, CA 92618 and serves the Irvine, Tustin, Lake Forest, Foothill Ranch, Mission Viejo and Rancho Santa Margarita marketplace. Local businesses and applicants are encouraged to get in touch at their convenience. Call 949.583.7400 or visit www.expresspros.com/irvineca/.