Slow Spring It Would Seem
In March, Redfish Technology hit its 20,000th job order and reported high tech has been especially hot in the e-learning, software-as-a-service, cloud, disruptive software and gamification sectors.
The development side of hiring has been predominantly for product managers, quality assurance and delivery managers, and on the sales and sales support side for managed services, account executives, and client services engineers.
Nonetheless the overall private payroll data disappointed, with a 95,000 increase for the month. February’s revised 254,000 gain was much more heartening, and expectations were for a 200,000 gain. This spring slowdown is the third consecutive spring with slowed hiring, yet there doesn’t seem to be any clear indicator of the cause this year. Perhaps next month will show a large upward revision?
Job growth was led by the professional and business services sector with 51,000 jobs added; health care gained 23,400, construction brought on 18,000 and leisure and hospitality sector grew by 17,000.
Staffing companies have been reporting rebounding business, a good indicator. Non-seasonally adjusted BLS data estimates that the staffing industry has added 55,100 new jobs (up 2.2%) from February to March of this year; and 6.8% year over year.
The U.S. unemployment rate fell a tenth of a percent to 7.6 percent in March.