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For the first time since 2021, there are less than 1 million job vacancies in the Uk
The decline in advertised vacancies in London is concerning, as it indicates a potential slowdown in the job market. With almost 200,000 fewer job opportunities than the previous year, job seekers in the capital may face increased competition for available positions.
Furthermore, the decrease in average advertised salaries in London adds to the worries of job seekers. A 2.0% decline may not seem significant at first glance, but it can substantially impact individuals’ financial well-being and the overall health of the UK job market. With London’s high cost of living, a decrease in salaries can make it even more challenging for residents to make ends meet.
On a more positive note, Wales experienced a slight rebound in November after a fall in October. This suggests that the job market in Wales is relatively stable, providing some relief for job seekers in the region. However, it remains to be seen whether this growth will continue in the coming months.
The East Midlands, on the other hand, has emerged as a surprising frontrunner regarding salary growth. Overtaking Northern Ireland and Yorkshire, which have consistently shown strong salary growth throughout the year, the East Midlands saw the highest year-over-year increase in November. This growth can be attributed to the rise in average salaries in Leicester, which increased by an impressive 6.8% to £34,781.
Overall, the job market in the U.K. is experiencing mixed fortunes. While some regions are witnessing job vacancies and salaries declines, others are showing signs of growth. Job seekers must remain vigilant and adaptable, considering opportunities in different areas and industries to maximize their chances of finding employment.
Global Mobility Solutions (GMS) is the industry leader in relocation services and always has a pulse on job markets worldwide. Be sure to check out our Knowledge Base as we post weekly blogs with topics ranging from real estate insights to info for hiring managers.
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What is an EAP?: Everything you need to know about setting up EAP Programs for your employees
An Employee Assistance Program (EAP Program) is a professional service program designed to help employees handle issues that arise daily in both a career setting and their personal life. An EAP provides benefits to employees in the form of counseling and other services. In most cases, these programs also offer resources to managers and employers through organizational development and training. Typically EAPs are set up by the company’s human resources department. Various vendors can help a company set up an EAP.
Most companies have an online portal where employees can review and utilize these special EAP benefits. The most common benefits include mental health counseling, discounts on other services, and sometimes gym memberships or phone bills.
This guide provides insight into what an EAP is and the associated benefits and standard services usually included. Choosing the right program for your organization is essential, as the services provided can directly impact the well-being of your organization. Therefore, it is critical to ensure that your employees are provided the assistance and help they need.
Common EAP Program Services
Each company will have different areas of services to offer its employees, but here are some of the standard services EAPs usually include:
Mental Health Counseling
Employees who are stressed or overwhelmed by personal or work situations can’t perform their duties effectively. An employee’s poor mental health can lead to decreased productivity, increased absences, and errors that might lead to safety mistakes. An EAP that provides counseling can be the perfect resource that an individual might need to get help. A solid EAP will have a list of counselors that an employee can choose to contact.
In most cases, the employee’s immediate family members can also have access to counseling through the EAP. This is an essential detail that companies should look into because if the employee has a family member who is having a rough go of it, their productivity can be just as compromised, just as bad.
The 24/7 online and over-the-phone counseling programs have become more popular over the years. It is expected that many EAPs will cover this type of counseling, but companies should go the extra mile to ensure that in-person appointments can also be made for employees.
Personal Life Resources
It’s not just enough to promote a healthy work/life balance. Companies should put processes in place that create a perfect work/life balance. Numerous employees struggle with finding the right mix of working hard for the company and taking time for themselves. Some situations come up in everyday life that sometimes requires additional assistance. Personal life resources are meant to provide employees with the options they need help with.
The most common life situations that employees may need help with are:
Child care
Pet care
Housing services
Education
Elder/adult care
That’s not to say that the company should pay for each employee’s daycare or pet boarding services. But an EAP could be an excellent opportunity for the company to get a stellar price from vendors offering these services and then promote a great price to employees. This sets up a win for all parties. The company gets a happier, less stressed employee. The employee receives these services at a reduced price. And the providers for these services get repeat business.
Career Advancement Services
This one should go without saying. Every company should invest in the advancement of its employees. It is a good idea to include career advancement programs in EAPs. Special training, classes, or conferences that can help employees learn more about moving up to the next level has numerous benefits. Employees who feel they are trained and appropriately promoted are more likely to stay.
If the company can train and then promote from within, it can help cut down on employee turnover. And every company knows that employee turnover costs money because the hiring process can take much longer than expected.
Update Your EAP with Relocation Services
An excellent way to make your EAP more comprehensive is to include a small range of relocation services for employees to utilize. With so much of the workforce going remote these days, companies are not as willing to pay to relocate employees, but if the company were to partner with a reliable relocation service provider such as Global Mobility Solutions (GMS), then they could add talent mobility benefits to their EAP.
If employees have relocation benefits at their fingertips, they can move to where their family is most comfortable, at a more affordable price, without the company having to pay for it. This could be a good setup for companies in a remote setting.
There are still benefits of working with a relocation management company for companies not in a remote setting. For starters, relocation companies have a long list of reputable real estate agents who can still assist employees who are looking to move within the state. Also, partnering with an RMC can give you options for moving companies within your EAP, so employees who have to find a new apartment or house have some help moving.
Why GMS?
Why use GMS as your relocation management company in your EAP? GMS is the industry leader in talent mobility. Our expert team has been helping employees move, both domestically and internationally, since 1987. We work with companies to figure out their needs when it comes to relocation services. Whether you’re looking for full-service relocation assignments for your in-office employees or some side benefits to add to your EAP, GMS has you covered. Feel free to set up a call with one of the relocation experts who can assist you in moving forward.
What's happening in your industry? Request a Courtesy Benchmark report
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What Is Frictional Unemployment?
Frictional unemployment is the technical term for someone who is “in-between jobs” because they plan to move to a new position. Economists use this term for employees who leave their jobs voluntarily or involuntarily. There are other types of unemployment, but frictional is unique because it is seen as a natural part of labor turnover rates.
The majority of frictional unemployment is when an employee leaves their job for a new one. Career changes also fit into this category. Students who recently graduated and trying to obtain full-time positions are also considered under frictional unemployment.
Because frictional unemployment is natural in a healthy economy, it doesn’t always compel a negative impact. In most cases, this type of unemployment can be beneficial. If a higher-qualified employee chooses to explore new opportunities, companies receive applications from candidates. And in many cases, a set relocation strategy offers a significant offset to minimize time and costs for an employee moving to a new destination.
Examples of Frictional Unemployment
There are different situations that would constitute frictional unemployment. Again, because frictional unemployment numbers are high in a healthy economy, it can be suitable for companies and employees alike. The only obvious downfall on the employees’ end is that any type of unemployment can be scary and stressful. The longer the unemployment stent lasts, the harder it is on the employee and their family. Here are some everyday situations that reflect frictional unemployment:
Personal Transition
Maybe the most common example of frictional unemployment. A personal transition can include taking time off to care for kids or an ill relative to a complete career change. As always seen as voluntary unemployment, personal transitions can last just a few days to a long extended time. Career changes usually involve new training or going back to school, so they can take years in some instances.
Another prime example of personal transition unemployment is an employee who leaves their job to start their own business. As people can save and set a foundation for their business, they do their best to time an exit from their current position to take a shot at their dream business.
Geographic Move
There are numerous situations that would fit in this category. The most seen is someone who accepts a new position in a new state or country. No one can just move overnight and be ready to work the next day. The relocation process takes some time in which usually the employee is not working, so there is a small gap in employment before the new job starts. However, if an employee accepts a promotion or corporate relocation assignment from their company, there could still be a minimal employment gap.
Geographic move unemployment matters also occur when an employee’s spouse or partner accepts a job in another location. The employee then gives resignation notice due to the move and then searches for a new job.
Another callout for this type of frictional unemployment might be if an employee wants a fresh start in a new home, but the company won’t allow a transfer and doesn’t offer remote work options. Obviously, this also fits into voluntary unemployment. In most cases like this, it is recommended from a professional point of view that the employee already have a position lined up in their new destination before relocating.
Skill Matching
Skill matching refers to an employee leaving their job for a position where the skills, responsibilities, and requirements are on the same level. This situation usually occurs when an employee feels underappreciated or underpaid at their current company. Sometimes, the employee will apply to open similar positions to get the pay raise they hope to reach. Or if the employee feels the new company can offer better career growth opportunities.
Skill matching frictional unemployment happens in a thriving economy when employees have more power in salary negotiation.
Up-Skilling
Up-skilling frictional unemployment is highly similar to skill matching. The big difference is that the employee is taking a new position because they cannot advance at their current company. The most straightforward call out here is an employee who holds an entry-level job moves to a new organization to go into a manager-level role. Or a manager-level employee wants to be promoted to a director or president-level role. This switch usually happens when an employee is topped out and looking for a higher salary and more responsibilities.
Again, up-skilling is easier done in an employee-favored economy during hiring frenzies. But, just like skill matching, the number of days unemployed is minimal and on the employee’s terms.
Entering the Workforce
Recently graduated college students who have yet to find a full-time job count in frictional unemployment rates. Younger job seekers who are applying and interviewing for positions usually make up the highest rate of this example. This situation for frictional unemployment is the most dependent upon the health of the economy. In a healthy economy where job openings are plentiful, graduates have more options and a better chance of limiting their unemployment days.
It is not uncommon for someone who may have been a stay-at-home parent looking for their first career job since caring for children. And military members whose service time has concluded, now on the job search fit into this category also.
How a Relocation Strategy Can Reduce Frictional Unemployment
Setting up corporate relocation policies can help companies cut down on frictional unemployment. These set policies help quicken the timeline it takes for an employee and their family to move. If the company develops its strategies with a relocation management company (RMC), processing time and costs can be managed better. Companies tend to work with relocation specialists who can provide coaching for the process and a prepared list of vendors who work in the services needed, such as movers and real estate agents.
Frictional Unemployment can hinder companies that relocate new, existing, or promoted employees if they do not have a strategy in place. The company suffers because the moving process drags out; there are numerous days when the position is not filled. On the flip side, the employee suffers because this is time they are not getting paid. But being prepared with relocation packages to offer employees gets them from point A to point B within a reasonable timeline.
GMS Has Taken It to the Next Level
Global Mobility Solutions has been assisting companies with their relocation strategies since 1987. Our team of relocation experts knows how to help companies prioritize their global mobility needs. In addition, we have set in a new Employee Choice Program allowing employees to relocate without their company providing financial sponsorship.
This program is meant for companies to retain top talent for positions allowed to work remotely. In addition, companies can enable employees to relocate while not having to pay for the process. GMS offers this program to companies so that their employees can utilize our list of relocation vendors at great prices. Please fill out this form to get more information on this new program put together by GMS. Then one of our relocation experts will reach out to let you know how your employees can take advantage of the Employee Choice Program.
GMS is here to help with any relocation needs, and our Knowledge Base is full of hard-hitting blog topics that can answer many levels of questions.
We're Here to Help! Request a Courtesy Consultation
Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.
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In the fifth annual Talent Attraction Scorecard published by Emsi, Maricopa County ranks #1 for its 2020 regional competitiveness score. This ranking is among large counties in the US, defined as having a population of over 100,000 residents. Interestingly, Maricopa County also held the top spot for large counties in 2017 and 2018, and the second spot in 2019. The metropolitan Phoenix market is attracting both businesses and talent at a healthy and self-sustaining rate of growth.
Top 10 Ranking
The top 10 large counties ranking highest for their 2020 regional competitiveness score include:
Note that all of the top 10 large counties ranking at the top for regional competitiveness are in southern or western states. Texas in particular has four large counties that rank high for regional competitiveness.
Emsi defines regional competitiveness as the “job change that occurs due to factors within a region.” This is as opposed to impacts from trends outside the region such as national economic performance or any other influences. With its return to the top spot for 2020, it is clear that locating and growing a business in Maricopa County is a winning proposition.
Data Included in 2020 Regional Competitiveness Score
Emsi’s data analysis focuses on several important measurable factors including:
Educational attainment
Growth of jobs
Growth of skilled workers
Migration
Population
Regional competitiveness
The report highlights several positive trends for Maricopa County, including current business expansions and a tremendous 18% in the growth of skilled jobs. Expansions in semiconductor manufacturing are highlighted, including Intel Corporation’s newest investment, the Fab 42 plant. This single investment accounts for over 10,000 jobs in Arizona, including 3,000 high-tech positions at the facility. Additional jobs include support engineering, equipment technicians, facility management and maintenance, transportation, and administration.
Success in Several Industries Supports Maricopa County’s 2020 Regional Competitiveness Score
However, the 2020 regional competitiveness score recognizes much more success in businesses than just in the semiconductor industry. The report notes that Maricopa County’s success spans a wide range and depth of industries. Ultimately, the report points to a “positive feedback loop” that supports growth:
Many of these companies are looking to benefit from a lower cost of living, less taxes, and business-friendly policies. As a result of Maricopa County’s top ranking 2020 regional competitiveness score, these companies will also benefit from the county’s job growth, a growing and highly educated workforce, and positive inbound migration of skilled talent.
Conclusion
GMS’ team of domestic relocation experts has helped thousands of our clients understand how to find information on highly desirable areas for business relocations and group moves. Our team can help your company understand how the 2020 regional competitiveness score can lead to a successful business relocation with many benefits for both employers and employees.
GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s interest in learning more about the 2020 regional competitiveness score for Maricopa County, or give us a call at 800.617.1904 or 480.922.0700 today.
We're Here to Help! Request a Courtesy Consultation
Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.
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What are the 2020 fastest growing industries in the US? Although the COVID-19 pandemic dampens business and social activities, US economic growth continues its blistering pace. With 3rd Quarter 2020 Gross Domestic Product (GDP) increasing by a record-breaking 33.1%, the US economy has been gaining ground lost to the pandemic. The initial pandemic closures resulted in significant economic losses with 2nd Quarter 2020 GDP declining by 31.4%.
The United States Department of Commerce Bureau of Economic Analysis attributes 3rd Quarter 2020 growth to businesses reopening and resuming activities that were postponed or restricted due to COVID-19.
Several industries also act as growth engines for the US economy. The 2020 fastest growing industries in the US reflect the impact of the COVID-19 pandemic, and to a lesser extent technology trends. IbisWorld reports that the top 10 as measured by revenue growth include:
Consumer Market
Massage Business Franchises
Grocery Store Sales via Online Portals
Pet Food and Supply Store Sales via Online Portals
Energy
Hydraulic Fracturing Services (also known as “fracking”)
Finance
US Stock Exchanges and Commodity Markets
Manufacturing
Autonomous Underwater Vehicles
3D Printing and Prototype Services
Medical
Medical and Recreational Marijuana Farms
Thermometer Manufacturing
Medicines for Colds and Coughs
2020 Fastest Growing Industries on both 2019 and 2020 Lists
Interestingly, the only two industries that were at the top of the list in both 2019 and 2020 are:
The 2019 industries that dropped off the list in 2020 include:
Social Networking Platforms
Solar Power Installation and Production
Wind Turbine Installation
Online Mortgage Brokers
Peer-to-Peer Lending Platforms
Automated Guided Vehicle Manufacturing
Telehealth Services
Medical and Recreational Marijuana Retail Stores
What Trends Drive the 2020 Fastest Growing Industries?
One major trend drives most of the 2020 fastest growing industries: the COVID-19 pandemic. Online shopping accelerated dramatically in 2020. As retail stores closed or limited hours, consumers turned to online portals. Online shopping lets them avoid contact with other people. They can also find products that could be delivered right to their front door, so there is no need to travel to retail locations.
Medical product sales rose as consumers stocked up on medicines, thermometers, and other items to help them with illnesses as they avoided going to doctor offices. A major trend is for businesses and offices to take temperatures of staff and visitors, since that is an early sign of exposure to coronavirus.
Highlight on Autonomous Underwater Vehicles
What is an Autonomous Underwater Vehicle (AUV)? These are vehicles for conducting underwater research that are not manned by a pilot, and are not physically connected to another vessel with a line or tether. They operate independently, and some fully autonomous vehicles carry their own power in the form of batteries, fuel cells, or rechargeable solar power
What Should Job Seekers do About the 2020 Fastest Growing Industries?
People seeking a job should look into the 2020 fastest growing industries opportunities. A number of resources are available to learn about jobs in the AUV Industry. Professional networks such as Linkedin also have useful information on companies and contacts in this industry.
Job seekers may want to focus on a specific location such as Boston or Washington, and then target companies in those cities. It is a good idea to leverage professional career services to enhance job searches. Job seekers are more likely to find success in their search and objectives.
What Should Employers in the 2020 Fastest Growing Industries do?
Employers in the 2020 fastest growing industries should look into their needs for employees. Continuing economic growth creates stiff competition for job seekers with the necessary experience, education, skills, and training. They should review their relocation program to determine if the program supports their specific talent acquisition goals and corporate objectives.
Employers should work with a Relocation Management Company (RMC) that has knowledge and experience helping companies in the 2020 fastest growing industries. RMCs will help employers develop a relocation program that follows industry best practices and promotes their talent acquisition goals.
Industry Benchmarking Studies Help Employers Ensure Competitiveness
GMS has several Industry Benchmarking Studies that describe industry-specific best practices. These studies will help employers in the 2020 fastest growing industries learn if their company’s relocation program is designed to support their corporate objectives.
Corporate relocation policy benchmarking provides many benefits for employers. By benchmarking their relocation policy, employers can ensure their policy is comparable to their industry competitors. As a result, this will help them attract and retain talent with the highest level of skills and experience.
Industry best practice is to schedule a relocation program and policy review every 12 to 18 months to ensure your company maintains its competitive position. A thorough policy review will help your company learn how the relocation industry continues to evolve to meet increased employee demands. During the COVID-19 pandemic, the demands of compliance for safety leads to rapidly changing requirements for both employers and employees.
Conclusion
GMS’ team of corporate relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. As a result, our team can help your company determine how to attract job seekers looking for employment opportunities in the 2020 fastest growing industries.
GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs as they relate to the 2020 fastest growing industries, or give us a call at 800.617.1904 or 480.922.0700 today.
We're Here to Help! Request a Courtesy Consultation
Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.
Many job seekers looking for US job opportunities have their sights set on moving to find their new job. They often search for cities where there is a wide and growing number of employment opportunities. In this way, job seekers may increase their ability to find employment.
Where are the US Job Opportunities?
Several cities have shown tremendous growth in population, industries, and jobs over the past several years. Many of these cities are well positioned to leverage their strengths, from low cost of living to exceptional natural beauty. According to thetravel.com, the following 12 cities have the most US job opportunities:
While some cities on this list are often consistently cited as great engines of economic growth, others may seem somewhat surprising. Cities such as Sioux Falls, Boise, and Lake Charles do not often rub shoulders with shining tech industry stars like Austin, Boston, and San Francisco. What are the US job opportunities in these cities?
US Job Opportunities in Sioux Falls, Boise, and Lake Charles
Job seekers should look into cities like Sioux Falls, Boise, and Lake Charles for US job opportunities. These cities offer a wide range of industries and large variety of jobs. This bodes well for their future economic and employment growth.
Several resources are available to help job seekers learn about job openings in Sioux Falls, Boise, and Lake Charles. Social networking platforms such as Linkedin provide company information and searchable contacts for connection opportunities. Job seekers should leverage professional career services to enhance their job search and achieve success in their career objectives.
What Should Employers in Cities with Plentiful US Job Opportunities do?
Employers located in cities with plentiful US job opportunities should review their hiring plans and talent acquisition programs. High levels of economic growth means employers must compete for job seekers.
Employers seeking candidates with the best skills and qualifications should work with a Relocation Management Company (RMC). RMCs have knowledge and expertise to help employers design a robust and effective relocation program that promotes global talent acquisition
Many cities with growing industries often generate additional jobs in service and support industries. As employment grows, demand rises for housing, shopping, schools, and other services. Job seekers in service and support industries should also look at cities with plentiful US job opportunities.
Conclusion
GMS’ team of domestic relocation experts has helped thousands of our clients develop highly effective hiring and recruiting programs. As a result, our clients can easily attract highly skilled job seekers to cities with plentiful US job opportunities. Our team can help your company determine how to attract job seekers to fill openings and help your company reach its corporate objectives.
GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs in the top cities for US job opportunities, or give us a call at 800.617.1904 or 480.922.0700 today.
Omaha downtown skyline during Autumn, with a lake at the Heartland of America Park in the foreground
Across the U.S., state employment differences are often reflective of a variety of factors. Some of these factors are broad in scope, and others may be distinctly local. For example, components that may influence the growth or decline of employment in a specific industry sector may include:
Economic policies
Trade agreements
Favorable climate/weather
Local investment
Presence of natural resources
Over time, and if industries are successful, they may take an outsize role within a state. The automotive industry is an example of this type of impact. This industry has grown so large that its health impacts the states with automotive manufacturing facilities. The state of Michigan ranks as the #1 state for automotive manufacturing. As a result, the industry is often at the center of discussions about the state’s economy.
Comparison of Two State Employment Differences Resulting from COVID-19
Since the start of the COVID-19 pandemic in the U.S., employment has seen dramatic shifts. State employment differences reflect the concentration of various industries across states. For job seekers in the current job market, researching specific industries may help determine places with employment opportunities.
The U.S. Bureau of Labor Statistics publishes several reports on the labor market. The State Employment and Unemployment Summary reports on state employment differences. The period from March to April 2020 shows the impact of the COVID-19 pandemic on the labor market by state. Interestingly, the data shows a significant difference across many states. The preliminary measures from March to April range from a low of 4.3 point increase in unemployment, to a high of 21.3 point increase. The two states at these ends of the spectrum reflect the impact of industry concentration within a state.
Nebraska
The state of Nebraska March to April 2020 increase is the smallest of the 50 states, at only 4.3 points.
Nebraska Unemployment Rate
March 2020
April 2020
Change Month to Month
4.0
8.3
4.3
While Nebraska has an agricultural history, economic diversification has lessened the impact of one industry on the state’s employment performance. Currently Nebraska’s largest industries include:
Insurance and Financial Services
Manufacturing across Several Industry Sectors
Agriculture including Livestock, Corn, and Feed
Transportation including Rail and Trucking
Services including Healthcare, Data Processing, and Law Firms
All of these industries add to the state’s economic diversification and growth. As a result, no specific industry has an outsize influence across Nebraska. The impact of COVID-19 with respect to state employment differences are likely to be spread across several industries in Nebraska. Additionally, the Nebraska city of Curtis is looking to attract residents to become homeowners and landowners.
Nevada
The state of Nevada March to April 2020 increase is the largest of the 50 states, at 21.3 points.
Nevada Unemployment Rate
March 2020
April 2020
Change Month to Month
6.9
28.2
21.3
Nevada’s economic performance hinges in large part on the state’s tourism industry. Within this industry, the most important sectors are gaming/gambling, hospitality, and leisure. Gambling taxes are a primary source of the state’s revenue.
The Centers for Disease Control and Prevention guidelines to prevent the spread of COVID-19 include avoiding close contact with other people. Industries that require workers to be near other people are more heavily impacted by COVID-19. Also, various “stay at home” directives dramatically reduced the flow of tourists to cities like Las Vegas. The state of Nevada has borne the brunt of these types of restrictions due to the outsize influence of tourism, gaming/gambling, and hospitality upon its economy. State employment differences between Nebraska and Nevada show how industry diversification can benefit an economy from outside shocks.
What Should Job Seekers do About State Employment Differences?
Job seekers should review how state employment differences reflect the local economy’s diversification of industries. States with diverse economies are less likely to face significant issues due to shocks to their economy such as COVID-19.
Job seekers should also consider utilizing robust career services. These services will also help them leverage online tools to enhance their personal brand and increase their success in the job market. GMS Global Career Services available for job seekers include a number of helpful resources. A Career Services Intake will identify the job seeker’s needs, questions, and goals. As a result, GMS Global Career Services will be able to create a unique plan for their job search.
Conclusion
GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract qualified new hires. As a result, our team can use GMS Global Career Services to help job seekers find and access these programs in the states and industries that match their goals.
GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
Contact our experts online to discuss how state employment differences may impact your job search, or give us a call at 800.617.1904 or 480.922.0700 today.
We're Here to Help! Request a Courtesy Consultation
Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.
The Unites States Bureau of Labor Statistics (BLS) regularly publishes a treasure trove of valuable 2019 unemployment statistics. One of the statistics most examined is the national unemployment rate. Government agencies and departments often tout this figure as an indicator of the nation’s economic health, or as an indicator of administration policy effectiveness. However, unemployment data varies dramatically by industry, city, region, and state. This data is usually also adjusted for seasonality factors, and is published as “seasonally adjusted” to reduce the impact of these factors.
February 2019 Unemployment for US States
On March 22, the BLS published the preliminary February 2019 unemployment rates for US states. As noted in the publication, the US States with the lowest 2019 unemployment, tying for first position, are:
Iowa
New Hampshire
North Dakota
Vermont
What is it about these four states that is keeping their 2019 unemployment rates so low?
Iowa has two major growing job markets: Ames and Des Moines. Ames is home to Iowa State University. ISU is a leader in agricultural technology and animal health research. Des Moines is the state capital and its largest city. It is also a leader in the insurance industry and hosts a growing technology community.
New Hampshire 2019 Unemployment
For such a small state both in geographic size as well as population, New Hampshire’s economy is defined by a few industries. Smart Manufacturing/High Technology (SMHT) is the largest sector of the state’s economy. Much of this sector uses high-tech equipment for electronic component production. The state’s tourism industry remains robust, as its natural resources are abundant and areas such as the White Mountains draw a significant number of tourists.
Biotech and medical research is another large sector for New Hampshire’s economy, especially around Dartmouth-Hitchcock Medical Center. Dartmouth College in Hanover is a private Ivy League research university that consistently ranks among the world’s greatest academic institutions.
North Dakota 2019 Unemployment
Much of North Dakota’s economic success is tied to expansion of shale oil and natural gas production in the Bakken Formation. A large portion of northwest North Dakota lies above this formation. The Bakken is one of the largest deposits of oil and natural gas in the United States. Due to the Bakken, growth in the energy industry has driven the state’s 2019 unemployment to historically low levels. The University of North Dakota offers the only Petroleum Engineering Degree in the state.
The boom in North Dakota’s energy sector has been surging for several years. The state’s economic output more than doubled from 2002 to 2013. Following a lull during recessionary times, the industry’s pace has continued to rise. While the energy sector takes center stage, North Dakota also has a vibrant agricultural sector. The state’s top five agricultural products are wheat, cattle, soybeans, corn for grain, and sugar beets.
Vermont’s agricultural sector produces 47% of the nation’s maple crop and 67% of all milk in New England. The Vermont Higher Education Food Systems Consortium includes the University of Vermont, Vermont Technical College, Sterling College, Green Mountain College, Vermont Law School, Middlebury College, and the New England Culinary Institute. The consortium produces several skilled graduates annually, with programming and certificates in almost two dozen core areas of food systems study.
Vermont leads in clean energy initiatives. The state hosts many companies that are leaders in the green economy, including companies focusing on wind, solar, and hydroelectric systems. As a result, Vermont has more solar energy sector jobs per capita than any other state.
What do These 4 State Economies Share?
While these four states have economies that are different in many respects, they do share some commonalities.
First is the significant involvement of universities, colleges, and institutions of higher education. Several of the following schools are instrumental to their state’e economic success and low 2019 unemployment:
Iowa
University of Iowa
Iowa State University
University of Northern Iowa
Kirkwood Community College
Des Moines Area Community College
Western Iowa Technical Community College
New Hampshire
Dartmouth College
Keene State College
New England College
Plymouth State University
University of New Hampshire
Southern New Hampshire University
North Dakota
Minot State University
Bismarck State College
Dickinson State University
University of North Dakota
North Dakota State University
North Dakota State College of Science
Vermont
Sterling College
Middlebury College
Vermont Law School
University of Vermont
Green Mountain College
Vermont Technical College
Second, each of the four states benefit from high technology that leads to low 2019 unemployment. However, this technology is not solely relegated to dot-com companies, apps for phones, or software development. Much of the high technology is in applied sciences, where it is used to advance manufacturing capabilities and production in sectors as diverse as:
Agricultural and Animal Production
Food Products and Processing
Traditional Energy Sources
Insurance and Financial Services
Renewable, Clean, and Green Energy Sources
Biotechnology and Medical Research
Third, these four states have all made significant investments in economic diversification.
Iowa is creating success for insurance and financial services. Iowa has no state corporate income tax on out-of-state sales, federal tax deductibility on in-state sales, and a premium tax of just 1 percent.
New Hampshire has become a destination for several new industries, including the Advanced Regenerative Manufacturing Institute (ARMI), a manufacturer of human organs on a mass basis. The state has also used significant incentives to lure companies such as BAE Systems, one of the world’s largest defense contractors.
North Dakota is investing in value-added agriculture productions, energy sector, autonomous systems, health care initiatives, and advanced computing.
Vermont’s Economic Development Authority is actively involved in financing a wide range of initiatives. Several projects also promote diversification on farms to help farmers expand their product offerings.
Companies looking to expand or hire in one of these four states should review their relocation programs. A qualified Relocation Management Company (RMC) with knowledge and experience can provide a number of helpful resources to counteract the effects of a tight job market and low 2019 unemployment. As a result, companies will maintain a strong competitive advantage for new hires and transferees. Also, a global relocation program that provides the highest level of relocation benefits and services for employees will help companies attract highly skilled and talented candidates.
Conclusion
GMS’ team of global relocation experts has helped thousands of our clients understand how they can use global relocation to find and hire skilled employees. As a result, our team can help your company understand how leverage its relocation program to attract new hires and transferees for its locations in Iowa, New Hampshire, North Dakota, and Vermont.
GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.
Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.
Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s relocation program and how it can be leveraged to counteract low 2019 unemployment in Iowa, New Hampshire, North Dakota, and Vermont, or give us a call at 800.617.1904 or 480.922.0700 today.
Productive morning. Emotional enthusiastic real estate agents sitting at the table in their office and looking happy while showing pretty realistic miniature houses and trees
Baby Boomers are increasing in the United States job market. This generation’s employment gain in 2018 is unmistakable. Baby Boomers are increasing both in total number of employees and as a percentage of new hires. What is driving this phenomenon?
December 2018 Job Growth by Sector
A look at job gains in December 2018 may provide a few clues to the growth of Baby Boomers in the job market. The job gains are noteworthy for how widespread they are across sectors of the economy. Sectors by order of job gains:
Private Education and Health Services: Up 82,000
Leisure and Hospitality: Up 55,000
Professional and Business Services: Up 43,000
Construction: Up 38,000
Manufacturing: Up 32,000
Retail Trade: Up 24,000
Government: Up 11,000
Wholesale Trade: Up 8,000
Other Services: Up 8,000
Financial Activities: Up 6,000
Mining and Logging: Up 4,000
Transportation and Warehousing: Up 2,000
Utilities: Unchanged
Information: Down 1,000
Interestingly, some sectors showing job gains represent types of jobs that require higher education, experience, and skill levels than some other sectors. However, sectors such as Information that had driven significant job growth in the past may be undergoing structural changes or be further impacted by government restrictions related to immigration and visa status. The US Bureau of Labor Statistics Current Employment Statistics Highlights December 2018 Report includes a special note regarding Information jobs: “Within the sector, telecommunications lost 26,000 jobs in 2018, while other information services added 17,000.” Monthly job data tends to be volatile in nature. As a result, trends are difficult to discern when looking only at monthly data.
2018 Job Growth by Age Distribution
A look at job gains throughout the entire year of 2018 might provide more helpful information to understand why baby boomers are increasing in the job market. Over 2.9 million new jobs were created in 2018. Select age distribution across all of the 2018 new jobs shows a disparity in hiring patterns.
Age Distribution of Workers in New 2018 Jobs
55 and over: Represent less than 24% of the workforce, but took 49% of new jobs
(Workers age 25-54 represent 64% of the workforce, but took only 45% of new jobs)
45-54: Decreased overall
35-44: Gained but smaller than their share of workforce
25-34: Gained strongly
18-19: Represent 2% of the workforce, but took 11% of new jobs
Why are Baby Boomers Taking New Jobs?
The growth of Baby Boomers in the job market is due to a number of factors. Baby boomers as a whole tend to be more health conscious than their parents and grandparents. As a result, they have a longer life expectancy than previous generations. This generation is unique in its pursuit to create a new way of health living. As a result, their desire to live well includes better nutrition, healthy activities, and the pursuit of social activities including employment that lets them engage with similar populations.
Changes to social safety net programs such as Social Security benefits and employee retirement plans also play a factor in Baby Boomers choosing to work longer. Greater life expectancies mean Baby Boomers need more savings and reserves for their retirement years. This is especially true as government programs continue increasing minimum retirement ages for full benefit eligibility.
Jobs for Baby Boomers
The US Bureau of Labor Statistics notes that employment of workers age 55 and over is greatest in the following job types:
Management, Professional, and Related Positions
Sales and Office
Service
Production, Transportation, and Material Moving
Natural Resources, Construction, and Maintenance
Within these job types, specific occupations have a greater concentration of Baby Boomers. Many of these occupations require significant experience and skills that add to the job holder’s credibility. Other occupations require an affable personality and openness to working with the public. Finally, several of these occupations require unique and significant leadership skills.
Occupations Requiring Artistic and Creative Skills
Furniture Finishers, Cabinet Makers
Jewelers, Gem Finishers, Metal Workers
Occupations Requiring Great Care and Attention to Detail
Archivists, Curators, Museum Technicians
Medical Transcriptionists, Medical Coders
Proofreaders, Editors, Reviewers, Copy Readers
Tax Preparation Professionals
Occupations Requiring Openness to Working with the Public
Bus Drivers, Taxi Drivers, Uber/Lyft Drivers
Property Managers, Real Estate Managers, Community Association Managers
Real Estate Brokers, Real Estate Sales Agents
Travel Agents, Tour Guides
Occupations Requiring Unique and Significant Leadership Skills
Clergy, Priests, Religious Leaders
Legislators, Government Representatives, Elected Officials
Other Factors Driving Baby Boomers to Remain in the Job Market
Flexibility in the job market provides greater opportunities for Baby Boomers to consider employment. Part-time positions often allow employees to work alternate schedules that fit their lifestyles. Also, another option Baby Boomers often choose is self-employment, opening their own businesses around special interests or services. Many freelancers over the age of 55 use supplemental gig work to fund their future retirement plans. Freelance work appeals to Baby Boomers because it lets them prioritize what is most important to them.
What Should Employers do to Attract Baby Boomers?
Employers should be aware of the growing number of Baby Boomers in the workforce. They should consider structuring positions to accommodate workers with higher education levels. Employers should also consider examining their employment requirements with respect to full-time, part-time, and gig work schedules. This will help employers appeal to the greatest number of job seekers.
Additionally, employers should examine their relocation program’s benefits. Relocation programs should be designed to provide companies and their employees the resources and they need to ensure a smooth and successful relocation process. A robust program should account for ongoing employee support services, supplier management, candidate selection, relocation benefits, and expense management.
Conclusion
GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. Our team can also help your company by using industry best practices to design your relocation program. This will increase your company’s ability to attract and retain new employees across all age groups, including Baby Boomers.
GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.
Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.
