Job openings fall slightly to 8.06M, lowest since early 2021 | Companies to boost headcount to support AI programs | Need workers? Offer professional development incentives
US job openings declined by 300,000 in April to 8.06 million, according to Labor Department data released Tuesday. Hiring and separations remained relatively stable at 5.6 million and 5.4 million, respectively, while the quits rate, a measure of worker confidence, held steady at 2.2 percent for the sixth consecutive month. The 8.06 million open jobs are 19% lower than a year earlier and the lowest since February 2021. Full Story: Fox Business (6/4),CNN (6/4),Reuters (6/4),CNBC (6/4)
Easy-to-Follow Steps for HR Admin Tasks How-to guides are a benefit of SHRM membership. These guides are step-by-step instructions designed to walk an HR professional through the practical process of how to complete day-to-day HR tasks. Join SHRM today and get started.
ADVERTISEMENT:
Recruiting & Retention
Companies to boost headcount to support AI programs Deloitte AI Institute's latest report reveals that about three-quarters of companies plan to refine hiring and employee strategies in the next two years, focusing on upskilling and reskilling employees to adapt to AI advancements. The report, based on a global survey of nearly 2,000 director- to C-suite-level respondents, indicates that 39% of organizations plan to increase the number of employees to support AI initiatives, while 38% will keep it unchanged. Full Story: Forbes (tiered subscription model) (6/3)
Unmatched Hiring Expertise Beacon Hill's project management, skills assessment, search and staffing professionals can help lead your business forward. With eight divisions, each focused on specific industries and skill sets, we know we can match you with the best of the best. Schedule an Appointment »
Report: Workers' comp cost per prescription increasing The cost per prescription in workers' compensation rose 7.3% in 2023, even though utilization is on an overall downward trend and cost per claim decreased 3.3% last year, Enlyte says in a report. Key drivers behind the higher per-prescription cost included "high-dollar topical agents," largely from out-of-network channels, and an increasing average wholesale price for certain drugs, the report says. Full Story: Claims Journal (6/3)
AmeriCorps, America Forward, Pinterest and the Schultz Family Foundation are collaborating to launch the Youth Mental Health Corps -- deploying recent high school and college graduates to support peers in accessing mental health resources. With a focus on navigation and community connection, this initiative aims to address the mental health crisis among teenagers while nurturing future professionals in behavioral health. Full Story: EdSurge (6/4)
The HR Leader
Generation takes a global approach to career training Generation is an international nonprofit that has developed programs to train people for new careers and places them in jobs where they have the best chance of thriving professionally. The nine-year-old program boasts about 100,000 graduates and founder Mona Mourshed talks about the decision to launch first in five countries, as well as the lessons learned while scaling up. Full Story: Forbes (tiered subscription model) (5/29)
SmartBreak: Question of the Day
"Don't know much about history ..." When the US Constitution was signed by each state's delegates, which state refused to send a delegate at all?
I attended my nephews’ graduation party last night. Jackson and Carson, covered in lei, were all smiles as they greeted everyone in the backyard. They looked relaxed and happy as they ate tacos, danced to the DJ, and chatted up friends and relatives. Everyone wanted to know their plans for the fall. They both plan to play football at the local community college and then transfer after two years. “I’m not 100% sure what I want to study -- it’s between filmmaking and business -- so I’ll save Dad some cash and go to Moorpark,” Carson told me. I also sat and chatted with my niece Malia. She goes to college in Baltimore; she begins her junior year this fall. She just changed her major from biopsychology to data analytics. “I liked the anatomy classes, but organic chemistry? Ugh. I didn’t like it and the other science classes didn’t interest me either,” she said. She heard about data analytics from some of her soccer teammates and got intrigued. “It’s cool. I don’t know a lot, but I like what I’m learning.” Knowing what you want to do and finding the right pathway there can be tricky -- and costly. Experience is everything. So I like the Youth Mental Health Corps profiled in today’s Path To Workforce story. This program, aimed at young adults ages 18 and 24 who are enrolling in or taking college courses toward a degree, gives participants a taste of the career field as they serve other young people struggling with mental health issues. Participants serve a minimum of one year in middle schools, high schools, community-based organizations and health clinics. The program includes career guidance on selecting a credential pathway and preparing and training for the placement. Wonderful! Programs like these offer young people practical experience that can help them find their way forward. We need these initiatives for older adults too -- those with a wealth of experience who want to transition their careers or reenter the workforce. These could be a powerful boon for employers looking for skilled talent. What do you think? Let me know! And if you enjoy this brief, tell others so they can benefit also.
Sharing SmartBrief on Workforce with your network keeps the quality of content high and these newsletters free.
