Job market outlook heading into the fall

Scott Blumsack, Monster SVP of Research and Insights, joins Yahoo Finance Live to discuss Monster’s Fall Hiring Report, job market trends, and outlook on remote work.

Video transcript

- I want to take a look now at some hiring trends that businesses are showing for this fall. Here to help us out is Monster-- Scott Blumsack. He is Monster's SVP of research and insights. Scott, always good to see you. So you've got this new report out, revealing job market trends. What are some of the big takeaways?

SCOTT BLUMSACK: Yeah, thanks so much for having me. Great to see you again. Yeah, in terms of what we're seeing in the market, there is, you know, a couple of areas of interest. The first is we continue to see strong demand in areas including drivers and warehousing. That still is a strong area of demand. And in addition, we're also seeing areas in some pockets which are kind of indicative of more offices reopening, so increases in things like business services. HR generalists are also an area that's increasing, as people are trying to hire more candidates. And in addition, we're also seeing increases in areas like security guards and sort of janitorial staff to support the office reopening.

- So are you still, though, seeing a pretty good presence of remote type work continuing on through the end of the year?

SCOTT BLUMSACK: Yeah, certainly the trends are that remote work will continue to play at least somewhat of a role in a lot of our work lives. So whether that's fully remote or in a hybrid sort of an environment, those are definitely trends that we don't see any evidence of waning.

- What are some of the areas that are hiring the most right now? I mean, we keep hearing about labor shortages in the hospitality industry, but what does your report show?

SCOTT BLUMSACK: Yeah, so we continue to see really strong demand in a lot of areas within technology. That's really been consistent throughout the pandemic, and it has continued on in terms of what we're seeing lately. In addition to that, we talked about drivers and warehousing increasing. We're also seeing increases in certain areas of health care, especially nursing. That's another area where we're seeing strong demand.

- And what about-- I know in past reports, you've looked at what workers are looking for in their next opportunity. And we've talked about the great resignation. Is that still happening? Is that a trend that's moving into the fall, where more and more people feel like they're confident enough to leave the position they have and go out and find a new job?

SCOTT BLUMSACK: Yeah, it tends-- it is definitely still a candidate-scarce environment, and I think you used the right word with confidence. Candidates are feeling very confident that there are other career opportunities that are available to them. And while that may not cause them to look for another opportunity immediately, they certainly do feel that confidence. And that-- and as they are looking at other opportunities, certainly salary and benefits are one area, but also, in addition to that, we're hearing candidates talk a lot about the need and desire for flexibility, as well as kind of skill building and training, because we've heard a lot of candidates who feel like, during the pandemic, they haven't had access to those same levels of career development opportunities, and they feel a little bit stifled in terms of their career growth.

- And what about enticing people with higher pay? I know that was a trend for a little bit here over the summer. Are companies still feeling the need to have to do that, and to sort of beef up the benefits that they're offering their employees to entice them?

SCOTT BLUMSACK: When you talk to employers, it's certainly-- you know, increased wages is certainly something that they're using. But in addition to that, it does come down to some of those non-monetary things, things like having a more flexible work style, and also, you know, really kind of promoting those kind of training and skill building and mentorship opportunities. Those really carry a lot of weight with candidates.

- All right. Well, thanks for the insights, as always. Scott Blumsack of Monster. We appreciate it.