Ready for some news that is most definitely not fake? Hiring is on the rise, and wages are increasing, too. According to CareerBuilder’s Midyear Job Forecast, 60 percent of employers plan to hire full-time permanent workers in the second half of 2017 - up from 50 percent who said the same last year. Meanwhile, more than half of employers (53 percent) plan to offer higher starting salaries for new employees over the next six months – a significant jump from the 39 percent who said the same in last year’s survey.
These findings signify good news for the 27 percent of workers who claim they plan to switch jobs over the next six months. According to Matt Ferguson, CEO of CareerBuilder and author of The Talent Equation:
“Events dominating national headlines have had a polarizing effect in the U.S., but most employers remain confident in their outlook for financial growth and plans for hiring. Job seekers stand to benefit not only from having more options, but also from the growing intensity in the competition for talent.”
Here’s a look at some of the other findings from the forecast:
Overall Hiring Is Up
The percentage of companies that plan to hire full-time, part-time and temporary or contract workers from July 1 through December 31 has jumped significantly since last year’s report. In the second half of 2017, 60 percent of employers plan to hire full-time, permanent workers. This is an increase from 50 percent who said the same last year.
Meanwhile, 36 percent of employers plan to hire part-time employees (up from 29 percent last year) and 46 percent of employers plan to hire temporary or contract workers (up from 32 percent last year).
Employers Feeling Pressure to Pay Up
The vast majority of employers (72 percent) say their companies will have to start paying higher wages if they want to compete for workers, and many are acting on it. Over the next six months, 66 percent of employers will increase compensation for current employees, and 53 percent will offer higher starting salaries for new employees.
IT is in Demand
Information technology (72 percent) is the industry outpacing all others in terms of hiring plans for the second half of 2017. Manufacturing (66 percent), health care (64 percent) and financial services (62 percent) are close behind. All are expected to outperform the national average (60 percent).
Matters of Company Size
Companies of all sizes show year over year growth in hiring plans for the back half of 2017. Below is a breakdown:
- 50 or fewer employees: 37 percent hiring (up from 27 percent last year)
- 51 to 250 employees: 67 percent hiring (up from 53 percent last year)
- 251 to 500 employees: 72 percent hiring (up from 64 percent last year)
- 501 to 1,000 employees: 75 percent hiring (up from 69 percent last year)
- 1,001+ employees: 67 percent hiring (up from 61 percent last year)
West Leads the Rest
The percentage of employers expecting to hire full-time, permanent employees in the back half of the year has increased in all regions. Employers in the West seem most confident in their hiring plans, with 67 percent of employers in this region planning to add headcount (up from 53 percent last year), followed by the South (61 percent - up from 50 percent last year). Fifty-six percent of employers in Northeast and 53 percent of employers in the Midwest also plan to add headcount - both up from 49 percent last year.
Download the complete CareerBuilder Midyear Job Forecast.