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The Economics of Job Acquisition or “What’s Going On with This Job Market?!”
September 26, 2022
Is the United States in a recession? Some signals indicate yes, yet the latest employment report from the Bureau of Labor Statistics (BLS) is strong evidence against being on the cusp of a looming recession—at least not in the way they’ve historically been experienced. According to BioSpace’s 2022 U.S. Life Sciences State of the Recruitment Market report, 72% of employers are currently experiencing a decrease in the volume of candidates applying to their jobs. The number of employers who believe the job market favors the candidate is up 31% from 2021 and 70% of employers say it’s taking longer than last year to fill open roles; in fact, it is taking the majority 2 to 3 months – or longer – to fill open positions.
So what’s a growing life sciences organization to do? In this panel our experts will unpack the current trends and share their insight on what the hiring may look like for the last quarter of 2022 and into the new year.