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Hiring, Pay to Increase

Posted on October 10, 2017

Hiring is set to increase in the last three months of 2017, according to some new data from CareerBuilder.

CareerBuilder's Q4 2017 Job Forecast is predicting an uptick in both jobs and pay.

In Q3 2017, 44 percent of employers added full-time, permanent headcount while 8 percent decreased headcount, both improvements over the previous year.

Positive trends are expected to continue with 43 percent of employers planning to hire new employees in the fourth quarter, up from 34 percent last year. Seven percent expect to reduce staff, down from 9 percent last year, while 47 percent anticipate no change and 3 percent are unsure.

According to the survey results, 43 percent of employers plan to hire full-time, permanent employees in Q4, up from 34 percent in 2016; 73 percent plan to increase salaries.

The percentage of employers who are transitioning seasonal employees into permanent staff has reached a new high (70 percent) and has grown at an accelerated rate over the last few years.

"Our survey is pointing to a significant year-over-year gain in permanent hiring and a smaller boost in seasonal hiring in Q4, though the short-term effects of hurricane damage on the U.S. mainland remain to be seen," said Matt Ferguson, CEO of CareerBuilder and co-author of The Talent Equation.

"One of the most telling trends from our research is the fact that many employers are willing to increase pay for both permanent and seasonal staff. This speaks to the sharpening competitive dynamic among employers that we have seen throughout 2017," Ferguson said.

Retailers are expecting another busy shopping season and are becoming more competitive in terms of what they are willing to pay seasonal workers.

Half of retailers plan to hire seasonal workers in Q4 and, of these employers1, two-thirds (66 percent) will pay them $10 or more per hour, a big jump from 53 percent in 2016 and 43 percent in 2015.

Looking across industries, 35 percent of employers are planning to have extra hands on deck to help with increased demands over the holidays, wrap up the year or ramp up for 2018.

Of those hiring, 70 percent expect to hire some seasonal workers for full-time, permanent roles, up from 62 percent last year and up from 42 percent three years ago.

Find out more at www.careerbuilder.com.