Recent Hiring and Compensation Trends

Evidence of labor market tightening is seen in declining unemployment rates, rising vacancy durations and less job applicants: February unemployment was at the lowest rate since May 2008 and also declined to 5.5 percent from 5.7 percent in the previous month.1 Economists expect a jobless rate of below 5% by year’s end. 2 The average number of work days from time of vacancy until a job offer is made has increased to 25.7 working days, an increase of 3.5 days from last January. However, more specialized sectors, such as the information sector...

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