The employment-to-population ratio remained stable at 64.0 per cent in April, suggesting that recent employment growth is in line with population expansion. This indicates a labour market that, while still tight, is somewhat less restricted compared to late 2022 and early 2023.
Rehiring boomerang employees significantly cuts recruiting costs, saving employers one-third to two-thirds of hiring expenses. For instance, an average Fortune 500 company could save around $12 million annually by rehiring former staff rather than using conventional recruitment methods.
Tech leaders are proactive about the impact of AI. Hiring is one of the hot topics. Companies invest in specific roles such as cybersecurity analysts, data scientists and AI engineers.
At a time when employers are struggling to find employees and many people are making career changes, knowing and understanding why this happens is crucial both to those hunting for new jobs and for people trying to fill some of the many jobs that have been vacated.