Since January 3, 2011 (the first work day of that new year) Minnesota companies have been on a hiring spree of recruiters. It was as if someone flipped a dimmer switch from off to on and then turned it up brighter and brighter
Not surprising since many of these jobs were eliminated during the recession and companies were going to start hiring… we do tend to be a leading indicator of how the economy is going.
The increase in hiring was a good thing... and we saw salary and hourly rate increases. And if you were a recruiter with a proven record in IT there was a competition of your services.
After seeing the many upticks and infrequent plateaus we are seeing a noticeable pause since Labor Day.
This graph of the national recruiter job posting scene From Wanted Analytics Recruiting for a Recruiter? shows some of what I speak of:
Minnesota did not see the dip this time last year that is shown above. A short term plateau for sure but then another quick uptick.
The Minnesota pause last year was for at most six weeks and at this point we are 10 weeks into this with little “chatter” about upcoming hiring.
Should we be concerned about this… I don’t think so. I doubt it.
Some logical reasons for this:
- this is a natural break after 18+ months, we can’t keep up that pace
- in part a seasonal thing
- maybe some of the Election 2012 (companies being unsure about the direction of the economy and country) is a part of this too.
So far we are seeing no layoffs but we are seeing some really talented contractors sitting the bench looking for new gigs.
Am I going to lose sleep over this? At this point, no.
Am I going to continue to watch this closely? Absolutely.
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