Unemployment Aid Applications at 50-Year Low

What do Woodstock, the first moon landing, and the Johnson Administration all have in common? They were all staples of conversation in 1969, the last time U.S. unemployment aid applications were as low as they are today. This is an unmissable signal for employers in the outdoor industry looking at hiring needs for 2019 and beyond.

Low Unemployment Means Low Layoff Rate

According to a recent article from the Washington Post, a Labor Department report from January 24 marked a drop in weekly applications for federal unemployment aid to 199,000, down 13,000 from the week before. The Labor Department uses this figure as a way of measuring layoffs nationwide. This shrinking number is especially significant in the face of a government shutdown with thousands of furloughed federal workers seeking unemployment assistance. Seeing a 50-year low right now indicates private employers are confident enough about the economy and their prospects to hold onto their workforce.

Are You Holding on to Open Positions? Don’t.

It’s easier to make hires in an environment with a high unemployment rate, but this news about dropping unemployment aid requests is only further evidence that we are currently in a hiring gator jaw. Especially when it comes to executive-level talent, employers are going to have a tougher and tougher challenge to convince candidates to make a move from their current jobs. If you have gaps in your leadership right now, then right now is the time to start making your company as attractive as possible and seeking out conversations with qualified and interested candidates. If these unemployment rates are any indication, it’s unlikely those candidates are going to be proactively seeking you out any time soon.

—Mike Martin, VP of Search

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