The Recruiting Radar #4
The Recruiting Radar #4
In this newsletter:
Labor Market News
New Funding
Expanding Businesses
Executives On the Move
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Labor Market News
Workers Are Still Needed, but Many Small Businesses Have Slowed Hiring
05.16.23 - Small businesses are experiencing challenges in hiring new employees, according to a survey conducted for The Wall Street Journal. The percentage of small business owners expecting to expand their workforce in the next year fell below 50% for the second consecutive month in May, reaching its lowest level since June 2020. The competition for workers during the pandemic, coupled with higher pay expectations, has made hiring difficult for small businesses. As the economy softens and interest rates rise, some entrepreneurs are reducing hiring plans in response to customer cutbacks. However, other data indicates the resilience of the labor market, with employers adding 253,000 jobs in April. Small businesses are adopting strategies such as staff training and automation to reduce the need for additional employees. The survey shows that 45% of entrepreneurs expect workforce expansion in the next 12 months, down from previous months. Despite recent opportunities to attract talent, small businesses are cautious about the economic outlook and hesitant to incur additional costs. | Source
Tech hiring increases while also taking a breather, CompTIA analysis shows
05.05.23 - According to an analysis by CompTIA, the hiring in the technology industry has increased while also showing some signs of slowing down. The analysis reveals that the tech sector added 10,500 new jobs in April 2023, marking a slight increase from the previous month. However, the rate of job growth has decreased compared to earlier in the year. The report also highlights that the technology unemployment rate remains low, indicating a strong demand for tech talent. Additionally, the analysis suggests that hiring challenges persist due to various factors such as skills gaps, remote work dynamics, and supply chain disruptions. Despite the potential slowdown, the tech industry continues to play a vital role in job creation and economic growth. | Source
Hiring New Accountants: The Challenge For The CPA Community And The IRS
05.11.23 - There is a growing shortage of accountants, both in the private sector and within the IRS. The demand for accounting professionals is increasing due to factors such as retirements, regulatory changes, and the expanding economy. The article suggests that this shortage can have serious implications for both taxpayers and the IRS, as it may lead to delays in tax return processing and audits. To address this issue, the author proposes several solutions, including increased funding for the IRS to hire and train new accountants, expanding partnerships with universities to attract students to the accounting profession, and utilizing technology to streamline and automate certain accounting tasks. The article emphasizes the importance of addressing the hiring challenges in the accounting field to ensure the efficient functioning of tax administration and compliance. | Source
Concern grows around US health-care workforce shortage: ‘We don’t have enough doctors’
05.16.23 - There is mounting concern among some US lawmakers about the nation’s ongoing shortage of health-care workers, and the leaders of historically Black medical schools are calling for more funding to train a more diverse workforce. As of Monday, in areas where a health workforce shortage has been identified, the United States needs more than 17,000 additional primary care practitioners, 12,000 dental health practitioners and 8,200 mental health practitioners, according to data from the Health Resources & Services Administration. Those numbers are based on data that HRSA receives from state offices and health departments. “We have nowhere near the kind of workforce, health-care workforce, that we need,” Vermont Sen. Bernie Sanders told CNN on Friday. “We don’t have enough doctors. We don’t have enough nurses. We don’t have enough psychologists or counselors for addiction. We don’t have enough pharmacists.” | Source
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