ExecuNet's exclusive Recruiter Confidence Index supports a stronger job market. Since January, our exclusive index shows more than 50 percent of recruiters feel that the job market is improving.
As we come around the turn of the middle of the year, we are seeing a much more positive tone to the executive employment market, if not real growth.
Overall US employment has been improving, as the monthly Job Reports from US Bureau of Labor statistics indicate. Average jobs added/month in the US economy are 20 percent ahead of the 2013 (up from 192,000 per month to over 230,000 per month in 2014) which is good news for sure.
The very good news is we are seeing executive hiring expectations are increasing even faster.
Our exclusive Recruiter Confidence Index, shows recruiter confidence levels rising from the lows of late 2012 and above 50 percent for the first time since 2011. As important, only 9 percent of recruiters think the executive job market is not going to improve in the next six months, down from almost 30 percent in late 2011.
Executive recruiters also report, through our exclusive Executive Job Creation Index, that one in four companies, will be adding new executive level opportunities in the next six months. This is up from about one in eight in late 2011.
Additionally, this is the third month in a row that executive recruiters have indicated that at least one in four companies will be adding executive level jobs in the next six months, which shows more consistent future expectations than we have seen in the last several years.
Since these indexes are asking for future expectations, the advance in these indexes indicates prospects for hiring in the coming months are good. This is not actual hiring as the US Bureau of Labor statistics reports.
Breeching the 50 percent confidence level for recruiters is very significant to us. It says that a majority of sectors of starting to grow. It indicates a more broad-based advance in the executive employment market.
Confirming this trend, we are seeing more companies and executive recruiters searching in our membership for top executive candidates. Searches are up over 25 percent over last year—a real rebound. And, we are specifically seeing a lot more Vice President and above opportunities.
Introduced in 2003, ExecuNet's Recruiter Confidence Index is based on a monthly survey of executive search firms and is a nationally recognized measure of the trend in executive hiring and is typically seen as a leading indicator for the economy. It is used by Wall Street financial analysts to value publicly traded staffing companies.