The U.S. economy may have lost some steam in September, but continues to steadily chug along with a total of 194,000 added jobs. This marks the ninth consecutive month of job growth as the country recovers from the COVID-19 pandemic.
Unemployment also fell to 4.8%, according to the U.S. Bureau of Labor Statistics — led by gains in leisure and hospitality, professional and business services, retail, transportation and warehousing industries. For college-degreed workers, the national unemployment rate declined to 2.5% in September.
-Source: U.S. Bureau of Labor Statistics
One trend worth noting: the rise of resignations. A recent report by Reuters shows that U.S. quit rates surged to an all-time high in August. This sets the scene for a tightening labor market in Q4 and 2022 — one where there are more job openings than available candidates, and demand for a human-forward and flexible corporate culture.
A talent shortage means a couple things for employers in Q4. For one, highlighting an empathetic and robust work environment is key. Yes, a market rate salary is still the No. 1 reason for choosing a new position, according to our 2021 Salary Guide, but the pandemic’s impact on job seekers’ priorities is clear. Creating a workplace that provides flexibility — whether that be remote and/or hybrid — as well as offers opportunities to connect are very important to today’s professionals.
Employers looking to fill open finance and accounting roles should also consider utilizing consultants to complete key projects and address overflow tasks. Contact our team to assist with your temporary or direct hire hiring needs.
As the job market tightens, skilled candidates are in high demand. Use this as an opportunity to find the best job match for you. Take informational interviews, partner with a recruiter and explore what accounting and finance positions are available in the market.
It’s also imperative to showcase your soft skills during the interview process. If the last couple of years have taught us anything, it’s that those indefinable attributes — adaptability, problem-solving and interpersonal — are crucial to building successful teams that can thrive in any environment.
Are you ready to make a career change? Check out the latest accounting and finance jobs in your area.