Recruitment difficulty and fill times are at historical highs, but the labor market continues to tighten, according to indications from The Conference Board’s Employment Trends Index for May. On the other hand, the US Bureau of Labor Statistics reported today the number of hires in April rose 4.2% from the previous month to a new series high — the highest level since 2009 — according to seasonally adjusted data.“The [Conference Board’s] Employment Trends Index increased in May, more than reversing the declines in March and April,” said Gad Levanon, Chief Economist, North America, at The Conference Board.“While we expect some slowdown in job growth, the Employment Trends Index suggests that this slowdown is likely to be modest enough to still tighten the labor market in the coming months,” Levanon said. “There is growing evidence that recruitment difficulties and time to fill open positions are now historically high, holding back the pace of hiring and job growth.”He also noted The Conference board is seeing increased efforts at automation to reduce demand for workers amid a tightening labor market.The Conference Board’s Employment Trends Index rose to a reading of 111.63 in May from April’s 110.21 level.Separately, despite the increase in hires, the BLS reported job openings and separations were little changed in April compared to March. According to the BLS, “hires” refers to the total number of additions to payroll including full-time and part-time, permanent, short-term, and seasonal employees.Still, Lee Biggins, CEO of Resume-Library, said in a press release the JOLTS report was welcome news.“However, the report also shows that there’s room for improvement in the professional and business services, where job openings decreased by 172,000,” Biggins said. “This isn’t surprising, considering the trade war between China and the US making it difficult for companies to plan right now. If Trump and the government don’t agree on a trade deal soon, business relations could be irreparably damaged, and the US economy will suffer as a result.”  Job Openings, Hires and Separations for April 2019 (Seasonally Adjusted)
(000s)
 
 
 
 
 
 
 
 
April     2018
March     2019
April     2019
m/m change
m/m % change
y/y     change
y/y % change
Job openings
7,106
7,474
7,449
-25
-0.3%
343
4.8%
Hires
5,694
5,697
5,937
240
4.2%
243
4.3%
Total separations
5,467
5,508
5,578
70
1.3%
111
2.0%
Rates
 
 
 
 
 
 
 
Job openings
4.6%
4.7%
4.7%
0 bps

10 bps

Hires
3.8%
3.8%
3.9%
10 bps

10 bps

Total separations
3.7%
3.7%
3.7%
0 bps

0 bps

Source: US Bureau of Labor Statistics; bps=basis points
 
 
 
 

The BLS released its Employment Situation report on Friday.
Source: Staffing Industry Analysts
Job growth moderating, index finds; but BLS reports hires number at high in April

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At just the age of 14 years old, Jean-Paul Renard was handing out flyers on the corner of 42nd street and Madison Avenue in New York City for Distinctive Temps that read “NEED A JOB?” Who would have thought, that years later Mr. Renard would become the President of Distinctive Personnel, Co-Founder of Distinctive Workforce Solutions and go on to develop an exclusive, state-of-the-art Vendor Management software called ManageRight®

Mr. Renard spearheads the global operations of Distinctive Workforce Solutions including its subsidiaries: ManageRight, Distinctive Personnel and Insignium Search. Mr. Renard creates the vision for each company and works collectively with his colleagues to execute legendary results. As a proud Chilean American and a New York City native, Mr. Renard is very active in the city’s thriving community and has built a successful company in what some people call, “the toughest business town in the world.”

With humble beginnings, Mr. Renard was raised in the St. George projects in New York City. Mr. Renard is an advocate for the empowerment of people, providing awareness to his community and stands firm in his message that all is possible when you believe. “You are only as limited as the limits you impose on yourself,” says Mr. Renard. Mr. Renard is married and proud father of 3 boys. Mr. Renard admits that the inspiration to be great comes from his family.

“My family is my life and I grateful that I have been blessed to have them. They simply make me a better person.”

As one of his many accomplishments, Mr. Renard sits on the Board of Directors for the New York Staffing Association and participates in half a dozen boards as an advisor. Mr. Renard contributes to several business publications, and is the host of the very popular video blog, Jobs Across America.

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Jean-Paul Renard blogs at blog.dwsworldwide.com and regularly tweets. If you would like to contact him directly, email: jrenard@dwsworldwide.com