Recruiter.com Announces Results of Recruiter Index for October 2021
Recruiter.com Group (NASDAQ:RCRT)(NASDAQ:RCRTW) has released its Recruiter Index results for October 2021, indicating a 3.5% increase in candidate sentiment for the second consecutive month. Compensation (30%) and remote work (27.2%) remain top priorities for candidates. The report highlights a shift with 53% of job openings being backfill roles, surpassing new roles. Additionally, there has been a decline in hybrid roles and an increase in applicant volumes (31.5%). The unemployment rate decreased to 4.6% in October, signaling continued labor market adjustments.
- 3.5% increase in candidate sentiment for October.
- 53% of job openings are now backfill roles, highlighting a shift in hiring focus.
- 31.5% of recruiters noted an increase in job applicants, an improvement from 26% last month.
- The unemployment rate decreased to 4.6% in October.
- October job additions (551k) were lower than last year's October (638k).
- A decline in available hybrid roles by nine percentage points.
NEW YORK, NY / ACCESSWIRE / November 8, 2021 / Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com"), a recruiting solutions platform, has released the results of Recruiter.com's Recruiter Index® for October 2021. Evan Sohn, CEO of Recruiter.com discussed the results with both CNBC and Yahoo Finance last week.
Candidate sentiment is up (
Backfill roles are up from September's survey and have officially overtaken new roles. For the first time, recruiters reported that most of their roles (53 percent) were backfill, compared to 47 percent brand-new.
Sohn emphasized the rise in backfill roles on CNBC's Power Lunch, "We're very excited about the 551 thousand jobs that were added last month, but if you look at where we were a year ago, October 2020, we actually added 638 thousand jobs… so there were more jobs added last year with no vaccine, no covid pill, mask mandates everywhere than we had now."
Candidate volumes continue to increase, with 31.5 percent of recruiters saying their jobs are getting more applicants now, up from 26 percent last month. According to the Bureau of Labor Statistics' new report, the unemployment rate edged down to
While candidate volume increases, we found a decline in available hybrid roles by nine percentage points. Even with the decrease they still continue to outpace remote roles.
When recruiters were asked what roles they see the most demand for, the top 10 included:
- IT/software engineering: 31 percent (-4 from September)
- Healthcare/Medical: 17 percent (+2 from Sept.)
- Recruiting/Staffing: 15 percent (-6 from Sept.)
- Accounting/auditing: 11 percent (+1 from Sept.)
- Architecture/engineering: 11 percent (+5 from Sept.)
- Business services: 10 percent (+0 from Sept.)
- Sales: 10 percent (+10 from Sept. - biggest jump)
- Pharmaceutical / Biotech: 9 percent (+1 from Sept.)
- Automotive: 8 percent (+5 from Sept.)
- Restaurants / food and beverage: 8 percent (-2 from Sept.)
The November Recruiter Index can be found here.
About Recruiter.com Group, Inc.
Recruiter.com is a recruiting solutions platform that rapidly delivers the right talent to both small and large businesses. With recruiting software and a network of on-demand recruiters, Recruiter.com provides on-tap talent solutions that flex with hiring needs. To learn more, visit https://www.recruiter.com. For investor information, visit https://investors.recruiter.com
Please follow social media channels for additional updates:
- Recruiter Network Group: https://www.linkedin.com/groups/42370/
- LinkedIn Company Page: https://www.linkedin.com/company/recruiter-com
- Twitter Company Page: https://twitter.com/recruiterdotcom
- Facebook Company Page: https://www.facebook.com/RecruiterDotCom
Company Contact:
Nicole Gallina
Corporate Communications
investors@recruiter.com
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast" "believe," "may," "estimate," "continue," "anticipates," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future developments, or otherwise, except as may be required by law.
SOURCE: Recruiter.com Group, Inc.
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FAQ
What was the candidate sentiment change reported by Recruiter.com in October 2021?
What percentage of job openings are backfill roles according to the Recruiter Index?
What is the unemployment rate as reported in the Recruiter Index for October 2021?
Which job sector saw the most demand in October 2021?
What was the total number of jobs added in October 2021 according to Recruiter.com?
