U.S. Job Growth: November Surges Amidst Economic Resilience

60%

A recent survey by MyPerfectResume found that 60% of HR leaders accept AI-generated applications, but tactics like “white-fonting,” where hidden keywords manipulate hiring software, are considered unethical and risk damaging candidates' chances. While 15% of HR professionals believe AI has harmed candidate quality, new tools are being developed to better identify serious candidates. Ultimately, hiring managers still need to review resumes carefully to find the best candidates.

3000

Holiday stress affects employees, with 64% citing financial concerns and 33% feeling pressure to meet year-end goals, according to a survey of 3,000 workers. Recognition programs can help, as 78% say redeeming points for holiday shopping eases spending. Recognition also improves motivation (87%), confidence (85%), and productivity (84%). Employers can support well-being with better benefits, flexibility, and appreciation, as 36% of employees report improved well-being since last year.

79%

A recent report by Robert Walters found that 79% of HR professionals in Singapore prefer skills assessments over traditional hiring processes. Employers are increasingly valuing talents with problem-solving skills (66%), resilience (47%), and self-motivation (45%). Challenges in recruitment persist, with 58% of employers citing high salary expectations and 56% noting a lack of industry experience. Flexible working hours are also a top preference for 82% of Singaporeans.

2.1%

Over the past five years, U.S. workers have seen quarterly productivity growth averaging 2.1%. In the three months through September 30, productivity grew by at least 2% year-over-year, marking the fifth consecutive quarter of growth. In contrast, productivity in Europe and Canada has remained stagnant or declined since 2015. Factors such as government stimulus, flexible labor markets, and a rise in new business formations have driven these gains in the U.S.

227,000

Job growth in the U.S. surged in November with the addition of 227,000 jobs, rebounding from disruptions caused by hurricanes and strikes in October. The unemployment rate increased slightly to 4.2%, marking the first time it has been above 4% for six consecutive months since 2021. Despite this, wage growth remained strong at 4% annually, indicating a resilient labor market. Economists anticipate a potential Federal Reserve rate cut in December, which could help sustain job gains and economic stability into 2025.