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August 31, 2023 
4 min read
Whether you’re getting ready for back-to-school or just interested in the latest hiring trends and insights, our August Workforce Report covers it all.
Read on for a quick overview of the latest hiring trends, including:
The hiring rate continued to slow down this July, but the overall market is still stable despite expectations. While employer activity decreased for the second consecutive month, applications continued to flow into the market. This is consistent with the Bureau of Labor Statistics’ August Jobs Report, which stated that unemployment remains low at 3.5%.
Despite the rising Interest rates, low inventory and increasing housing prices, the demand for housing remains strong. And not only are consumers interested, but there is also a growing desire to work in the real estate industry.
Since January 2022, real estate job applications have surged by nearly 70%. However, job openings and hires have not kept pace, currently standing at just 5% and 12%, respectively.
Many workers seek opportunities to advance their careers and expand their skill sets with their current employers. Internal mobility can positively impact employee satisfaction, advocacy and retention.
In fact, 64% of job seekers in the US expect to discuss their career path with their manager more than once a year, which indicates their interest in growing within their organization. And when actively pursuing internal job opportunities, 1 in 3 employees expect to discuss their career plan with their manager if they do not receive the offer.
In addition, 70% of employees are interested in undertaking gig or project work at their company to acquire new skills.
Although internal mobility is highly sought after by both employees and candidates, most applicant activity consists of external candidates (36% external vs 2% internal). Solid current circumstances influence this right now, including hiring freezes, layoffs and economic uncertainty, which impacts the opportunities available for internal employees to apply to.
How does back-to-school impact teacher applications and hiring trends? It’s not much different than the overall job market. Since January 2022, teacher application volume has skyrocketed – up 43% – and climbing steadily since the start of 2023. Teacher job openings are also up 43% since the start of last year.
What is interesting, however, is that there was a big spike in hires this time last year compared to the much lower volume of openings and applications. This year, hires, openings and applications seem to be in more alignment, with hires up 50% since the start of last year. School districts are busy getting teachers into classrooms for the upcoming school year.
Amy brings a knack for storytelling and strategy to her role at iCIMS. A longtime journalist and marketing consultant, she is on a mission to make her content sparkle with details and clarity.
As an essayist, Amy’s writing has appeared in The Washington Post and Family Circle magazine. When not writing, you can find her going for long hikes in the woods with her goldendoodle, working in her veggie garden or researching her next travel destination – which has included spots like Hong Kong, the Greek islands and Newfoundland.
