W.E. Upjohn Institute for Employment Research’s Post

Labor Trends U.S. workers who switched jobs since the pandemic’s onset are much more dissatisfied than those who stayed, according to a survey by The Conference Board. It found that overall job satisfaction among job switchers has dropped by 5.6 percentage points. Top reasons for dissatisfaction include leadership quality, communications, interest in the work, co-workers and job security. Although higher wages enticed many to take new jobs in the COVID-19 era, the survey noted those who switched jobs now report less satisfaction with wages, likely due to inflation eroding their purchasing power. The survey also found that newer workers are less satisfied, with the overall satisfaction lowest among those in their roles between six months and three years. These workers expressed greater intent to leave within the next six months due to dissatisfaction with bonuses, promotions, training, recognition and performance reviews. While wages and key benefits remain vital for job satisfaction, workers were more focused on positive work culture and experience in 2023 than the previous year. “After more than a decade trending upwards, overall US worker job satisfaction may have finally plateaued,” Allan Schweyer, principal researcher, human capital at The Conference Board, said in a press release. “To avoid declining job satisfaction, leaders should maintain or improve key drivers such as flexible work arrangements and career development opportunities while ensuring that wages and core benefits remain competitive.” Source: Staffing Industry Analysts

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In 2024, the demand for hourly workers is set to rise sharply. Here are three main reasons: - Labor Shortages: With only 62.7% of the U.S. population participating in the labor force, companies are increasingly relying on flexible, hourly workers to fill essential roles. - Growth in Temporary Staffing: Industries like engineering, life sciences, and education are expected to grow by 5-8%, leading to a greater need for temporary and hourly workers. - Shift Work Flexibility: Now, 77% of U.S. hourly workers say their employers accommodate their shift preferences, up from just 22% in 2021, highlighting the growing importance of flexibility in the workforce. These trends indicate that the on-demand workforce will be crucial in keeping industries running smoothly. #ergool #FutureOfWork #GigEconomy #OnDemandWork #HourlyWorkers #LaborTrends #Workforce2024 #StaffingSolutions #FlexibleWork #ShiftWork #JobMarket #TemporaryStaffing #HRTrends #USLaborMarket

New data from Employment Hero reveals wages for tech workers in Australia have stagnated, with the sector being the only one to notice a dip in pay rates. The median hourly rate slightly declined from $57.20 to $57.12 over the past year, yet every other sector recorded a rise of at least 6% year-on-year, according to The Australian Financial Review. However, despite the stagnation, tech roles remain the highest paid sector when calculated as a median hourly rate, a stark contrast to the salary surges experienced during the pandemic. The AFR reports that recruiters attribute the slowing wages to tech companies scaling back hiring, at a time when big layoffs in recent years have swamped the market with candidates, and say job seekers are still expecting boom-time salaries seen during the Covid-19 pandemic. The figures — based on data from the company's more than 150,000 small and medium-sized businesses and 1.5 million local employees — also found the number of employees in the sector increased just 0.1%. “Employee growth is also flattening. This indicates a cycle of fiscal tightening and a focus on short-term profitability across the board, both of which are now being felt on employees’ pay packets. We expect the long-term trend for tech to be one of growth but workers in this sector may feel the pinch a bit more than they’re accustomed to as we go through this adjustment period” said Eddie Kowalski, senior insights manager at Employment Hero. Were pandemic-era tech salaries too high, and a correction needed? Share your thoughts in the comments below. 🖊️ Marty McCarthy For more coverage of the tech and startup sectors, subscribe to Tech Wrap-Up Australia, a newsletter from LinkedIn News Australia: https://lnkd.in/TechWrapUpAU

Masses of highly paid tech workers say they plan to quit their jobs, and health care workers aren’t far behind. Workers in the two fields dominate Payscale’s latest list of the top roles employees said they were planning to leave within 6 months, based on employee-reported data from more than 770,000 U.S. workers. Even six-figure salaries aren’t enough to keep some workers in their roles. A majority, 66%, of senior product managers said they planned to find a new job in the last year, despite the fact that they commanded a $144,000 median annual salary. Here are the top 15 jobs people are planning to quit.

The Tech Salary Landscape: Adjusting to the New Normal There's been some interesting data floating around lately regarding tech salaries in Australia (thanks Employment Hero for the insights!). While tech still boasts the highest median hourly rate, there's been a slight dip compared to the previous year. Here's the key takeaway: the salary increase during the pandemic seems to be plateauing. This could be due to a few factors, including companies tightening their budgets and a larger pool of talented candidates entering the market. 🤷♀️ What does this mean for job seekers? It's important to have realistic salary expectations when applying for roles. While tech positions remain highly sought-after, the landscape has shifted slightly. 🗣 For employers: Communication and transparency are key. Highlighting the unique benefits and growth opportunities your company offers can help attract top talent in this evolving market. What are your thoughts? Were pandemic-era tech salaries unsustainable? Let's discuss in the comments! For anyone wanting to read the full story:

📈 A report reveals that 75% of Australian tech workers are considering changing jobs due to salary dissatisfaction amidst rising living costs. Despite 84% of tech companies planning pay raises, only a minority intend to increase salaries by more than 3%, clashing with the expectations of 85% of tech workers. This gap may lead to 77% of employees seeking roles that reflect their performance and combat the cost-of-living crisis. Companies are also looking to expand, with 60% planning a workforce increase. #TechTalent #SalaryGap #JobHunt #CostOfLiving

The latest #ReportonJobs revealed that the #labourmarket remains tight overall, though we are seeing the number of job seekers increasing as demand softens. There was a further drop in hiring activity at the start of 2024, particularly for permanent workers. Notably, permanent staff appointments fell at a sharp and accelerated pace, while temp billings fell only slightly. Although starting salary inflation remained sharp in January, the latest increase in pay was the softest recorded since March 2021 and slower than the series average. Temp wage growth quickened slightly to a five-month high, but was also below the historical trend. 💡The overall supply of candidates across the UK expanded for the eleventh month running in January. Recruitment consultancies across the UK registered a softer rise in permanent candidate availability at the start of the year. All four monitored English regions saw the availability of permanent workers increase during January. 💡Staff vacancies increased in the private sector but fell in the public sector during January. The strongest increase in demand was seen for short-term workers in the private sector. 💡The five broad employment sectors to see firmer demand for short-term workers, Hotel & Catering and Blue Collar saw the steepest rates of vacancy growth overall. At the same time, Retail sector saw the the quickest drop in temp job. Read the full press release here: https://bit.ly/487znPG

An interesting start to the year - the report suggests that the usual January rush of permanent appointments hasn't happened (with the sharpest contraction happening in the Midlands region), yet permanent candidate availability grew - pointing to a further re-balancing of the market compared to the last couple of years - which had put candidates firmly in the driving seat. Whereas the temp market is strengthening, with commentary suggesting businesses are turning to flexible, short term options amidst a subdued economic environment. #jobsoutlook #reportonjobs #labourmarket #employment #recruitment

New data from Employment Hero's latest SME Index shows salaries for tech workers have stalled and job openings have fallen dramatically, but employers say many candidates are still asking for boom-time Silicon Valley salaries in Australia. The data found the median hourly rate for tech workers fell from $57.20 to $57.12 over the past year, making it the only sector where workers’ pay went backward. Employment Hero’s SME Index draws on a dataset of more than 150,000 small and medium-sized businesses and 1.5 million employees in Australia to track wage trends. https://lnkd.in/gcAuc-q3