Digital Marketing, digital age, advertising

Intern Insights: A Gen-Z’ers Perspective on the Power of Influence in the Digital Age

by AdvertisingBranding

Digital Marketing, digital age, advertising

 

Representing the voices of Gen-Zers, I can confidently say our generation differs from those of the past that indulged in traditional marketing versus today’s digital age. Classifying a generation by its behavior toward trends and advertisements is impossible. A recent “report published by Juniper Research reveals 22% of all digital advertising spent in 2023 was attributed to fraud…” Although the internet has scams, this form of entertainment reaches billions of individuals just searching for their purpose.

Coming from an impressionable person, influence is the greatest marketing strategy, referring to the ‘word of mouth’ and influencer aspect of the term. Instagram presents its audience with many messages from sponsors. These sometimes-effective promotions interrupt my feed, forcing my attention away from my intended search.

Resembling organic posts, images, videos, or carousels, Instagram aims to provide relevant ads. Strategically showcasing a brand like “Holy Thrift” and its clothing on my timeline sparked immense interest. While sometimes these ads cause a mass disturbance, if done correctly, brands may find themselves successfully eliminating competition.

For Holy Thrift’s campaign, they posted original content boosting brand awareness. Despite the brand’s calculated performance in intruding on one’s browsing, Instagram ads are effective.

On the topic of influence comes the original influencer for students. In my case, it’s my parents. With encouragement from Mom and Dad, when things are promoted to aid my success on their social media– they will share this information with me.

Being accustomed to the swindles of social media, Gen-Zers know which companies have been involved in controversy. Parents, on the other hand, are sometimes like guinea pigs, unaware. If companies target parents of teenagers and young adults, their products can sell. I, for one, take every product my mother mentions with a grain of salt. She is more likely to fall into the deep deceptions of internet advertising.

While spending time with our neighbors, my neighbor Dave asked why my mom followed an irritating influencer. My mom responded, “She’s annoying but has really good Target finds.” We laughed, but it also made me realize why my mom is so infatuated by Target. I went along with her newfound interest without questioning it.

Recently, my friend Emily moved. While reminiscing, she mentioned the only thing near her new house was a Target. I replied, “What? Target’s the best!” This sparked a conversation about this multinational corporation, all influenced by my mom’s social media feed, proving the benefits both consumers and companies obtain from online advertisements in this digital age.

Social Media Day

Intern Insights: Social Media Day

by BrandingSocial Media

Social Media Day

As I embark on a dozen years of owning a social media account, it strikes me that I’ve been active online for more than half my two decades. That sounds petrifying – at least to me – yet the time has rushed by and I’ve come to terms with this being my normal way of life.

Social media is everywhere and in everything. Platforms push out advertisements, along with hugely influential input on trends, mental health, politics, and connectedness. People all around the world connect and live vicariously through the lenses of others, which has triggered many of us to almost constantly compare ourselves to strangers’ lives. When I signed up for an Instagram account at the ripe, old age of 8, I had no idea what I was getting myself into.

Curating and creating posts, and receiving feedback became a hobby to me. For better or worse, it’s a continuously vicious cycle. During high school, I ran an anonymous Instagram account, @RelatableMood5, that grew to have 25,000+ followers. It featured aesthetically pleasing images targeted towards trends connected to teenage girls. I found posting photos of other people was the most validating way to approach social media because the backlash was minimal. And the lack of complications related to this account enabled me to do something risky – post about politics.

I received a good bit of negative feedback and lost followers, which confirmed for me that social media is terribly inauthentic. It’s a performance. Ultimately, I was unphased by the negativity and even hate, largely because – since I’d shared neither my face nor name – none of it was truly directed at me, as a person.

Social media certainly has its pitfalls, but it also has enabled my peers and me to connect. Instagram, TikTok, Snapchat and a few other platforms let me see what my friends are up to, while allowing me to disseminate private stories, as popularized by Snapchat. It’s this capability of social media that encourages others to, at a minimum, share select aspects of their lives.

Many teens are made apprehensive by watching other people’s experiences – it generates immediate FOMO (that’s fear of missing out for the uninitiated). We’re constantly updated on how others are spending their time. It’s a complex, fluid environment in which well-manicured personalities frequently replace genuineness, but social media is nonetheless a crucial tool for building connections and exchanging experiences within our globalized society.

Harley Rosenbaum is a rising junior at Tulane University and is interning this summer with SCG Advertising + Public Relations.

Advertising Week 2022: What the Future Has in Store for Marketing

by AdvertisingMarketing

Advertising Week NYC 2022 wrapped up recently on October 20th, concluding four days of networking, speaking lectures, discussions, and other marketing-related events. Advertising Week is a major gathering of advertising and communications professionals, who come together to discuss the latest trends, strategies, and perspectives in the industry. The recent event in New York marked the first in-person event Advertising Week held since the start of the pandemic, signaling the industry’s desire to meet in person again and not just on Zoom calls.

 

Some new technologies which took a lot of the spotlight were the metaverse and Web3. The metaverse refers to a digital universe where participants will be able to interact and carry out various activities together, while Web3 refers to a vision of a new type of internet that gives more power and influence to regular participants and creators, rewarding them more for their contributions. For example, social media sites currently harvest and monetize user data for themselves. In a theoretical Web3 internet, users could monetize and sell their own data.

Advertisers and marketers at the event were enthusiastic about these new technologies and the prospect of being able to use them to reach audiences in new and exciting ways. One common talking point was how the metaverse and Web3 would shift the dynamic between agencies and clients. For example, with the metaverse offering a more immersive online experience, which users have greater control over, how would that impact traditional advertising strategies? Could current models or strategies even work in a metaverse? Speakers encouraged advertisers to dream big and get creative in this completely new frontier. The main thing to remember is that in a theoretical Web 3 internet, power would be decentralized, meaning that larger companies would no longer hold all the influence and ownership power. This dynamic would greatly influence the strategies and approaches marketers can use.

Speakers also discussed the role of creators and influencers in marketing, and how marketers approach working with them. With a range of creator styles and objectives, there were many ways company executives outlined. For example beverage company Diageo said they work with creators for more purposeful objectives. Back during the pandemic, they recruited singers to perform at bars, helping bring back people during the pandemic. They also teamed up with prominent food influencers on Youtube to teach their audience how to prepare certain drinks like cocktails using the company’s products. Another important discussion point was how a company defines a creator. When a company is trying to reach a range of different audiences, what counts as a “creator” might change based on the audience. A DoorDash executive said at a previous event that they consider their delivery drivers to be the creators who best advertise the service, for instance. Companies also should know how active their role should be in creator content. Some companies like to take a hands-off approach and let an influencer do their thing, while other companies like Equinox play a more authoritative role and monitor creator content more closely. In Equinox’s case, they want to closely monitor misinformation in the fitness space, so they closely watch what things their creators are promoting so common myths don’t get shared.

Another major talking point was the presence of diversity in the industry. While there were various events focusing on diversity during the event, the overall consensus seems to be that diversity initiatives have seemed to be slowing down ever since the start of the pandemic. With the financial pressure the global pandemic has put on companies, combined with recent rises in inflation and fears of a coming recession, many companies have seemed to put diversity efforts on the back burner for now, which some criticized.

If one thing’s clear from the event, it’s that a lot is in store for marketers in the coming months and years. New technology, changing trends, and emerging strategies are going to all change how the industry operates and marketers are going to need to reevaluate how they reach their audiences.

 

Links to some interesting podcasts recorded ahead of Advertising Week New York 2022:

Great Minds: Dan Robbins, VP, Marketing, Roku

Uncommon Thinking: The Creator Connection – The Evolution of Brand Building

The Sonic Truth: Taking Risks, Measuring ROI, And Development of Long-Term Strategy in Audio

SCG Advertising + Public Relations is a woman-owned, full-service, advertising agency headquartered in New Jersey. If you need assistance contact your Account Manager or visit our website at: SCGADV.COM

How The Largest School Districts Are Attracting Talent

by Human ResourcesRecruitment Advertising

Teachers, administration, and faculty are the backbone of any school district. However according to the Center on Reinventing Public Education (CRPE), most of America’s biggest school districts are facing staffing shortages threatening their talent supply. While schools were already facing shortages, the pandemic greatly worsened them and their impact on school districts. With teachers and staff being so crucial to keeping schools running, many districts are being forced to get creative with their talent attraction efforts.

One major incentive school districts are now using is greater professional development opportunities. According to a study done by Brookings, 84 out of the 89 interviewed school districts planned to offer more professional development opportunities for staff, such as workshops and training. Some classes include helping teachers to better identify struggling students and know how to better support students emotionally. About a quarter of schools stated they planned to also offer coaching, mentoring, and well-being programs. Programs like these are attractive for staff, as it teaches them skills that make them more competitive and valuable in their careers.

Another method some districts are implementing is making a more direct pipeline for new staff to enter the workforce. For example according to Brookings, some districts are working with local universities to hire new graduating teachers, creating a direct path from college to career. According to the New York Times, states like NJ are publicizing passing rates on teacher licensing exams, showing new college students the best paths into education, and what types of teachers are the most in-demand. Other districts are making it more affordable for teachers and staff to start their careers, such as by offering new teacher residency programs or by reimbursing tuition for school nurses. Programs like these make it easier for schools to proactively find talent before talent finds them.

Some schools are even relaxing rigid restrictions and teacher certification requirements to open the door to a wider talent pool. Schools in New Jersey for example recently just proposed a plan to lift a residency restriction requiring candidates to live in the state to be eligible to teach there. This will give NJ schools greater access to more qualified talent outside of the state and help to fight their staffing shortages. Some other measures NJ is taking include removing an outdated teacher performance assessment called the edTPA. According to NJ.com, this would remove unnecessary hoops for teachers to jump through while still keeping hiring standards high.

One other method school districts are using is simply paying their teachers more or offering better financial incentives to attract new teachers and keep current ones. According to Calder, things such as loan forgiveness programs, educational stipends, and bonus programs significantly reduced turnover. In special education for instance, annual bonuses of just $2,500 were enough to lower attrition. Other school districts are also offering signing bonuses as well as retention bonuses to teachers who stay with the district. Giving teachers and faculty greater financial incentives will increase a school’s attractiveness to candidates in the job market.

SCG Advertising + PR helps over 350 schools in New Jersey with their recruitment advertising. If you need help filling your open positions, visit our website at: www.scgadv.com

JOB MARKET: Where Did Everybody Go?

by Human ResourcesRecruitment Advertising

In this post-pandemic era, recruiters and candidates are playing a more aggressive game of hide and seek. Candidates are more difficult to find due to a variety of market realities. And there is even more pressure on talent acquisition professionals to find that needle in a haystack.

Let’s take a look at some valuable numbers and information that you could be monitoring to keep your finger on the pulse of a market’s “recruitability.”

Your talent market could be shrinking due to cost of living.

Markets where costs, taxes, etc. are out of control have seen an exodus of talent moving out for greener (like in more money for you) pastures.  Residents in the states below are rushing to more affordable states – most of which are located in the south and the central time zone.

Most Expensive States to Live in 2022

1                 Hawaii

2                 Washington DC

3                 New York

4                 California

5                 Massachusetts

6                 Oregon

7                 Alaska

8                 Maryland

9                 Connecticut

10              Rhode Island

Your talent market could be shrinking due to employee participation.

Take a look at your state’s labor participation rate. This represents the number of people in the labor force as a percentage of the civilian noninstitutional population. In other words, the participation rate is the percentage of the population that is either working or actively looking for work.

That number has fallen nationally in recent years meaning that a smaller part of the workforce is holding or seeking employment.  Look at some of the states with the lowest rates. Remember that some states may be more highly affected by the number of retirees.

Participation Rate

West Virginia      55.2
Mississippi           55.3
New Mexico       56.5
Arkansas              56.8
South Carolina   57.0

Your talent market could be shrinking due to lower productivity.

The Bureau of Labor Statistics says this about productivity, “With growth in productivity, an economy is able to produce—and consume—increasingly more goods and services for the same amount of work.” Simply said, lower productivity requires a larger workforce to produce the same amount of goods and services.

Feeding a drop in productivity are those who are allegedly engaging in “quiet quitting.”  That means the employee slowly reduces their engagement, eventually doing only the minimum work required by the job description. I’m not sure how true this supposed trend is but an annual Gallup poll shows engagement going down and disengagement trending upward in recent years.

Here are some markets where productivity has dropped from 2020 to 2021.

States with the steepest drop in productivity

Alaska                  – 3.0%
Wyoming             – 2.9%
Rhode Island      – 0.8%
Hawaii                  – 0.8%
Delaware             – 0.7%
Florida                 – 0.5%

Want to discuss the “recruitability” of your marketplace in greater depth? Let’s talk. Call your SCG representative.

Brynne Springer

The Importance of the Intern… from an Intern

by AdvertisingHuman ResourcesRecruitment AdvertisingSCG News

Brynne Springer

Any student past or present understands the importance of internships. As an Advertising major concentrating in Art Direction and Copywriting at Temple University, internships are a great way to build my portfolio and strengthen skills needed within the field. This summer, I worked as an Account Coordinator Intern at SCG’s Haddonfield office and will be continuing my role during my senior year this fall. Through working at SCG, I gained valuable knowledge and practical experience in the advertising industry.

Since I started college a semester before Covid-19 spread into existence, I never had the opportunity to work in-office at any of my prior internships. From my first day, I felt at home right away at SCG. I was welcomed by the team and greeted with my own desk (which was very exciting). The open and warm attitudes of my coworkers helped acclimate me to my work as well. Coming into my position, I had little-to-no experience working in the hiring/recruitment space in advertising. At SCG, I was able to grow my experience not only in recruitment, but in copywriting, art direction, public relations, and social media. I have sat in on client meetings, created my own client reports and presentations, and even wrote my first press release. As a creative who loves to wear a lot of different proverbial hats, it is great to be immersed in so many different areas of work.

While I have heard plenty of internship horror stories from friends and peers, I am glad to say I am not included in that statistic. At SCG, my ideas and contributions are valued and recognized. SCG understands the importance of interns, and you should too. Here are some reasons why interns are an integral part of your company:

 

Excited Interns Make Excitable Work

Interns are excited to get to work and learn all there is to know about your field. Make sure to involve your intern in any way you can—whether that is asking them to come up with ten lines of copy for an ad campaign, drafting ideas for social content, or asking about their thoughts on a meeting they attended. When an intern knows their ideas matter, they gain the confidence to vocalize more of their ideas.

 

Fresh Perspectives

When you have been working in an industry for a while, you tend to stick to a specific way of thinking and carrying out your work. Interns, however, are looking at your client projects with a fresh set of eyes. Sure, not every idea will be one hundred percent doable (because, you know, legal) but new ideas can snowball into successful assets for your company.

 

Word of Mouth Advertising

Your interns matter, so treat them like it. The way you treat your interns reflects your company, and much like a consumer would review a company or product, your interns will too. If your intern had a nightmare experience, word-of-mouth advertising may not be in your favor.

 

Future Employees

Treating your interns with respect also affects your future hires. Students everywhere are looking for employment opportunities post-grad. If your intern was a hard worker who had a great experience at your company, there is a chance they will want to work for you full time. If they felt as though you gave them a negative experience for any reason, you just lost a potential candidate (and potentially more due to word-of-mouth).

Internships are preparing students for their chosen career paths, and your company is a giant part of that process. Your interns are unique individuals with valuable skillsets they can contribute to your company. Remember to treat your interns with respect and be open to their ideas—you never know where they may lead you, and they may end up becoming a full-time hire someday!

 

SCG Advertising + Public Relations is a woman-owned, full-service advertising agency headquartered in New Jersey.  We have had a robust internship programs for at least 20 years.

Declining Enrollment Gives Colleges and Universities Their Toughest Test Yet

by Human ResourcesRecruitment Advertising

Across the country, college and university enrollment has seen a noticeable decline over the last few years. In Spring 2022, there was a drop of 4.7% in undergraduate admissions compared to Spring 2022, which is equivalent to over 600,000 students, according to US News. Combining that with the drop that admissions saw in Spring 2021, college enrollment has seen an overall 9.4% decline since the start of the pandemic. New Jersey wasn’t immune from the enrollment declines, either. According to the Office of the Secretary of Education, total enrollment at public universities in NJ fell by 3.1% during Fall 2021. Private schools saw a dip of 3.5% over the last two years, while community colleges saw the worst drop, being more than 18%.

This doesn’t come without consequences. According to the Hechinger Report, fewer Americans going on to earn a degree could have major impacts for not just colleges, who will have to cancel classes and lay off adjunct professors, but for the country as a whole. Those without a college degree are more likely to have higher rates of poverty and unemployment, which would affect the health of the country.

The decline in enrollment in NJ, along with the rest of the country, can be attributed to several key factors. First, rising tuition costs have naturally made fewer students able to attend college. According to government figures, tuition at public four-year institutions during the 2020-2021 school year was 10% higher than it was in 2010-2011, and that number is projected to only increase over time. This increase in tuition costs has also caused many American families to question the value proposition of a college degree compared to other post-secondary education options, such as cheaper and shorter to complete skilled trade programs which may offer similar earning potential.

The other major factor which has contributed to the recent declines in enrollment is the pandemic. Despite it being two years since the pandemic started, the after-effects are still being felt. Many colleges are still using online or hybrid classes, which has caused students to question if the quality of the education they’re receiving has declined. According to Forbes, surveys show that students are mostly dissatisfied with post-pandemic online college learning. On the recruitment side of things, the pandemic also inferred with in-person recruitment events, such as in-person tours and college fairs, which were canceled during the pandemic. As a result, this gave colleges fewer opportunities to advertise to incoming freshmen.

With enrollment rates declining, it’s crucial that colleges try to fight back and increase enrollment and retention of students. One way colleges can do that is by reevaluating their classes and programs and incorporating more practical and workforce skills. With students questioning the value of a college degree, it’s important that schools update their classes to display a greater value proposition and better prepare students for after graduation. More practical skills are in high demand, as enrollment in trade schools and two-year college programs rose significantly over the spring according to US News. For example, The Colorado School of Mines saw its enrollment rates go up by 22% over the last five years according to Real Clear Education. They rank in the 99th percentile in Georgetown University’s Center on Education in the Workforce rankings of return on investment, with their main focus being on hands-on learning and workforce preparation for STEM careers.

The second way colleges can increase enrollment rates is by tackling rising tuition costs, with offering strategic financial aid being key to helping lower-income families pay for college. For example, according to The Chronicle of Higher Education, Georgia State University Panther Grant gives students small “micro-grants” of $900 to students who display financial struggles without them even applying. 86% of grant recipients go on to graduate, significantly increasing retention rates. Other ways to help lower tuition costs include making it quicker to complete a degree, such as how Ivy Tech College allows students to take extra credits without an extra cost.

With enrollment rates declining, it’s become more important than ever for colleges and universities to revise their student recruitment methods, adapting to new student interests and expectations. There is hope for a rebound in NJ at least, as shown by Montclair State University, Georgian Court University, and Ramapo College. While their overall undergraduate enrollment rates were down, their applications and freshman admissions were up for Spring 2022. Their administrators express confidence that Fall 2022 enrollment rates will show steady growth. Higher education is undergoing one of its toughest tests yet. With a proper plan and enough time, it’s a test which it should pass with flying colors (and without any cramming the night before hopefully).

SCG Advertising + PR has been supporting higher education for 25+ years with advertising, marketing and public relations services.

Our Education Experience

Combatting The National Teacher Shortage

by AdvertisingHuman ResourcesRecruitment Advertising

The national teacher shortage the country is facing is well known by now, and many states are scrambling to find ways to fight it, New Jersey included. Some states, like California and Arizona for example, have resorted to lowering the barrier to entry for teachers, including removing testing requirements or even no longer requiring a college degree. While strategies like these may get more teachers in the door, they don’t address the fundamental problems which are driving teacher shortages, such as a lack of young teachers applying.

Here in New Jersey, school districts are facing that exact issue. Some school districts in New Jersey have a reputation of being unwelcoming to new teachers fresh out of college, as well as younger teachers as a whole. According to a report from NJ.com, younger teachers face an uphill battle when starting out their careers in NJ schools. For example, some NJ schools are limited by inflexible employment options which favor seniority over merit/talent. This is a major issue, as studies show younger teachers favor job mobility and flexibility over stability. Some NJ school districts will take away a teacher’s tenure rights and even pay status if they switch jobs, discouraging mobility.

Furthermore, younger teachers tend to have a decent amount taken out of their paychecks. According to the Sunlight Policy Center, new teachers are forced to join the New Jersey Education Association (NJEA) and an NJ state pension plan, which combined take away around 11% of their pay each year. And when pay increases do occur, they usually favor older teachers and seniority rather than potentially younger teachers who have more talent.

Some of these issues may discourage younger talent from applying to certain school districts. Here are some tips that come from the Sunlight Policy Center and educators themselves that can help schools across the country improve their teacher recruitment:

  • Make teaching more open to new teachers and college graduates, who favor mobility and career ladders over stability. You can also amend current policies which could potentially discourage newer teachers from applying.
  • Offer more competitive benefits packages and salaries to incentivize teachers to apply.
  • Explore options under the Every Student Succeeds Act (ESSA) to see if you can provide your school with more/better resources to attract and retain teachers.
  • Offer professional development opportunities to teachers to help them refine their skills, such as workshops, seminars, and more. This could be a big selling point to younger teachers.
  • Go to colleges where soon-to-be graduating teachers will be leaving and looking for work. This is a good place to find talent. For example, handing out flyers and pamphlets at teacher fairs or giving them to career advisors at universities can help boost recruitment efforts.
  • Reach out to old teachers who may have left for a specific reason, and see if they would be interested in coming back. Sometimes teachers leave for a very specific reason, such as having a conflict with a certain administrator. Check in on them and see how they’re doing. Even if they’re not interested in coming back, they may have friends who are looking for work and seek them out.
  • Job boards are a great way to attract candidates who wouldn’t normally be able to attend the local job fair. They greatly extend your recruitment reach.
  • Start the recruitment/hiring process as early as possible. Studies show that schools that start earlier often receive more qualified candidates.

Schools in New Jersey, as well as across the country, are facing teaching shortages that threaten their ability to provide quality education to their students. Instead of using strategies that may only address the surface of the problem, schools should be focusing on methods that will tackle the problem on a fundamental level.

SCG Advertising + Public Relations is a long-standing, woman-owned, full-service advertising agency headquartered in New Jersey. We have a vast amount of experience in the education space, working with hundreds of private, public, and charter schools across the country to recruit both students and faculty. 

Tips for the Upcoming School Year

by AdvertisingHuman ResourcesRecruitment Advertising

We’re in the last few weeks of summer, and preparations for the new school year are ramping up. And it’s not just students going back-to-school shopping. Teachers too are planning out their lesson plans and schedules. Whether you’re going back to the same school or applying to a new one, here are some tips that teachers can use to help prepare themselves for the new school year:

  • Don’t just be a teacher. Be a learner as well. Go over the last school year to see what worked and what didn’t. Did a certain lesson plan go over really well with the students? Bring that over to this year. Did students struggle with a certain chapter of the textbook? Maybe revise that for this year so the information is conveyed better.
  • Being a learner also includes being a student yourself. Consider exploring professional development options, such as webinars, online courses, and more. Your school may even offer development opportunities themselves. Developing yourself professionally will allow you to improve your skills and talents even further, making you a more valuable teacher and job candidate.
  • Know how you’re going to communicate with parents, students, and colleagues. Being prepared with all the proper technology and apps is crucial to effective communication. Does your school use Google Classroom, Zoom, or something else entirely? Find that out now and make the necessary preparations to get these set up so they’re ready on the first day of school.
  • Set defined goals for yourself for the upcoming school year. Planning out how you want to change or improve gives you something to work towards. Make sure the goals you set are specific and achievable. Vague or abstract goals will only confuse you and not give you a clear path to achieve them.
  • If you’re applying to a new school, make sure your resume is updated with all the new relevant skills that will make you stand out and be competitive. Did you teach a remote class during the pandemic? Put that on there. Being digitally savvy as a teacher has become more important than ever with the increased demand for remote/virtual learning. If you recorded some of these lessons, include them in your portfolio to show schools the lessons you taught.
  • Be willing to work as a guest teacher or substitute. If you’re just starting out, taking smaller positions such as these will give you valuable classroom experience, and allow you to network.
  • Use job boards to find job openings you may not have found on your own. They can greatly expand your job search and allow you to apply to even more schools.

The start of a new school year is always an exciting time. Not just for the students, however, but for teachers too. Teachers get to resume teaching, meet new classes, and have the opportunity to revise and improve their skills further. Follow these tips to get started on the right foot and have a successful year!

 

SCG Advertising + Public Relations is a long-standing, woman-owned, full-service advertising agency headquartered in New Jersey. We have a vast amount of experience in the education space, working with hundreds of private, public, and charter schools across the country to recruit both students and faculty. 

 

So much fanfare over the July Jobs Numbers. Here’s what recruiters need to know.

by AdvertisingHuman ResourcesRecruitment Advertising

 

It was the first Friday in August. The time slowly inching its way to 8:30 am. It’s only a few agonizing minutes until the jobs number was to be revealed just as it is the first Friday of every month.

The experts had weighed in with their forecast and were bracing the nation for a disappointing number – having predicted 258,000 jobs. This was a precipitous drop from the 372,000 jobs created in July.

A decline in the jobs created made total sense to SCG.  We have closely tracked layoffs for select industries over the past nine years. Those layoffs have been increasing every month over the past 6 months. Those eventually should be reflected in the unemployment rate. Right?

But then, the Bureau of Labor Statistics threw us all a huge curve. They announced the number for jobs created was over double that the experts had anticipated. It came in at an unbelievable 528,000. That’s more than twice the initial projection.  With 3.5% unemployment.

 

What goes into the Bureau’s calculations?

The report is based on two separate surveys.

The Establishment Survey gathers information from 145,000 nonfarm businesses and government agencies for some 697,000 work sites and about one-third of all payroll workers.

This data estimates the number of people on payrolls in the U.S. economy, the average number of hours they worked weekly, and their average hourly earnings, along with several versions of the unemployment rate.

 

The Household Survey is based on monthly interviews of 60,000 households by the Census Bureau. The participants provide their employment status during the week including the 12th day of the month. The BLS measures unemployment by dividing the total number of unemployed people looking for a job by the total number of individuals in the labor force.

 

Here is the official report based on the July data.

 

As impressive as that number is, we cannot sustain 500,000+ new jobs per month with the 3.5% unemployment. Just not enough talent. That is made even more difficult with the nation’s continually shrinking Employment Participation Rate (the percentage of individuals who are working or actively looking for work).

 

Why is this report essential to recruiters?

SCG sees this information as vital insight into the competitiveness of the recruitment landscape. As the market tightens, recruiters face the need for increased budgets and use of invasive strategies to reach the more plentiful – but less persuadable – passive candidates.

 

For a deeper dive…

Open the July Data link above and scroll to the bottom. You will find access to about 25 in-depth reports.

SCG Advertising + Public Relations is a woman-owned, full-service advertising agency headquartered in New Jersey with expertise in recruitment advertising. If you need assistance, contact your Account Manager or visit our website at: SCGADV.COM

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