2015 Employment Outlook
By Tim Walker
Most company executives plan on hiring in 2015. For the first time in several years, 52% expect staffing levels to increase in the new year (up from 47% in 2014 and 34% in 2013) according to a survey from the Employer Associations of America. The same employers also predicted increases in compensation (78%), bonuses (40%) and training budgets (38%).
Economists say there's reason to be optimistic as well. They predict GDP growth, increased hiring and pay, low inflation and climbing stocks.
Things are looking better for recent graduates too. A survey from Michigan State suggests that hiring will increase 16% among recent grads with a bachelor's degree. The same survey reported that manufacturing (17%) and Information Services (51%) were projected to make the largest gains in hiring college grads in 2015.
From the perspective of staffing companies, things are looking good as well. American Staffing Association research showed hiring reached prerecession levels in 2014. In November, staffing companies created 8.5% more new jobs compared to the previous year.
Managers did express some concerns for the new year along with their optimism. Large companies are predicting increased competition for qualified candidates andexpect to have to target more candidates for jobs as a result. Recruiting staffs are also operating at full capacity, according to the Michigan State report. CNBC reports that optimism among small business owners is at an 8 year high as well. Keep in mind, however, that recent declines in the unemployment rate are at least partially due to the fact that fewer people are actually working. That makes the pool of qualified candidates more shallow, while the ocean of available jobs deepens.
These indicators certainly suggest 2015 will be a great year. There's only one way to find out!