The economy added nearly 300,000 jobs last month while unemployment held steady at 5 percent, according to the latest jobs report from the Department of Labor. The strong numbers exceeded economists’ already high expectations for the end of 2015; October’s and November’s job figures were also revised upward. Overall, the economy added 2.65 million jobs last year.
These solid signs of growth further support widespread expectations of a robust and competitive hiring landscape in 2016. The latest CareerBuilder survey finds that 36 percent of employers plan to increase their full-time staff this year:
Looking at specific industries, financial services and information technology have already been experiencing accelerated growth, and are expected to outperform the national average – at 46 percent and 44 percent, respectively. Manufacturing (37 percent) and health care (36 percent) are expected to mirror the national average.
Temporary and contract employment is also projected to pick up in 2016, with 47 percent of employers planning to hire temporary or contract workers, up slightly from 46 percent last year and 42 percent in 2014. While temporary and contract employment enables employers to maintain flexibility in their workforce, it also enables them to fill in-demand roles on a short-term basis while they look for more suitable replacements.
Many employees are also planning to change jobs, so recruiters can look forward to a busy year.