Workforce Optimism, Construction Hiring Improves
While the impact on markets varies greatly it seems that the workforce overall is growing in optimism. According to the new 2020 Candidate Sentiment Study done by the American Staffing Association (ASA), 80% of job candidates believe they will land a new position by November 2021. In October the Worker Confidence Index reported a rise of 7.7 point, marking the first increase in the index since the pandemic started. When comparing this new data to 4Q 2019 data from HRO Today, it appears that employee confidence is trending towards 2019 levels. This may be due to a wide range of factors and likely varies by job class.
What about the markets AstraWorks services? The Bureau of Labor Statistics reported that 27,000 construction jobs were added in November 2020 following a strong October of 84,000 total jobs. November marks seven straight months of job growth for construction. According to the U.S. Census Bureau, during the first 10 months of 2020 construction spending exceeded 2019 numbers over the same period. However, compared to 2019 this industry lags its pre-COVID employment by about 280,000 jobs.
This data mirrors what we at AstraWorks have experienced during Q3 and Q4. Our clients are opening more positions and making more full-time hires. Candidates who are in secure positions are much more likely to engage and consider new opportunities. Along with this, competition for candidates has increased. These trends give us plenty of reason for optimism as we head into 2021.
If you are looking for hiring solutions, AstraWorks is always open to discuss your needs. Give us a call at (913) 521-4040.