In New Hampshire we may be known for our attractive ski slopes and a healthy tourism industry but according to statistics, we also rely on manufacturing, and a candidate pool who are highly educated. With a candidate-driven hiring market this means educated talent in the sector of manufacturing are faring well. Candidates have more choices in the companies they work for, salary, and more.
According to statistics, 32.5 percent of the adult population in New Hampshire has a Bachelor’s degree or higher (Bureau of Labor Statistics). Not only are candidates educated, they’re employed.
A thriving industry and educated job seekers, among other factors has brought the unemployment rate to 3.1% in December 2015. That’s a fall of 0.1 percentage points. Compare New Hampshire to other states.
Additional statistics show that there were 67,800 manufacturing employees in New Hampshire in 2015, many of which we placed in positions in 2015. These manufacturing employees help to drive New Hampshire’s economy, with $3.95 billion in manufactured goods exports in 2014.
What Creates a Candidate-Driven Market?
When the unemployment rate drops and turnover rates increase the market shifts toward the candidate. Educated job seekers move from job to job to obtain desired salaries and meanwhile with a thriving economy, new jobs are opening and staying unfilled much longer. The outcome of more options for candidates means they’re raising their workplace expectations.
Firms who want top talent have to compete for the best employees and can do that by providing more incentives and benefits for top candidates, namely increased salary. Many companies have enlisted the help of a staffing agency’s candidate pool to get in touch with educated, skilled job seekers.