There’s an interesting dynamic beginning to show itself in the marketplace. Full-time workers listed on job sites are flat from January 2022 until May of this year. On the other hand, job postings online for part-time workers have increased by 10% over the same period.
What’s going on? Understand that we’re dealing with percentages, and full-time work is still the most common type of work by far, but the trend is interesting. What are some of the factors that are common or driving this trend? Here are a few: The increase in part-time jobs is wide ranging and applies to most industry sectors. Some employers are creating multiple part-time jobs in place of full-time jobs.
Employers are trying to accommodate the competitive market for workers. On the other hand: Workers are looking for more flexibility in their work schedules. Workers prefer work-from-home schedules and may opt for part-time opportunities.
Workers with skills in demand want the flexibility in hours to accommodate school schedules, child care or work-life balance, to name a few. According to the hiring data from the Labor Department, part-time employment was up almost 9% from January 2022 to May 2024, with full-time hiring up only 1.5% for the same time period.
In addition, the unemployment rate slowly edged up to 4% in May. In March of 2022 there were 12.2 million job openings.
In April of this year, the number of job openings was 8.1 million. According to Indeed.
com, a large job posting website, the industries with the greatest increases in part-time job postings in May were: Beauty and wellness, marketing, hospitality and tourism, media and communications, and arts and entertainment. The question arises, what is causing this beginning shift? Here are a few thoughts: Are employers cutting back on full-time workers to save money in benefits? Are employers responding to the demands of workers for flexibility, work-from-home schedules and hybrid work programs? Are the competitive demands for high skills talent especially in technology and artificial intelligence, forcing employers to cater to employee demands? During the recession of 2007 to 2009, part-time work increased dramatically. Is the marketplace slowing down enough that employee roles are being culled to better fit concerns about a potential downturn or a possible recession? What does all this say for you? Keep your eye on what’s happening both in the marketplace and your own company.
Watch the trends and how your function is affected. Always keep your options open, but have a contingency plan for each alternative. Send me questions for an article or a review of your resume at wkaufmann44@gmail.
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