While the economy continues to chug along, forecasters say the jobs market will remain strong and unemployment low.
With the jobs news, employers ask: Will we be able to find workers with the skills we need in the months ahead?
In December, U.S. employers added 216,000 jobs and the unemployment rate held steady at 3.7%, according to the U.S. Department of Labor. The unemployment rate has been at about this point for almost two years, the longest streak of rock-bottom jobless rates since the Vietnam War.
"The labor market ended 2023 on a solid footing," said Nela Richardson, Chief Economist at ADP. "We'll see what 2024 will bring."
What 2024 may not bring are enough skilled workers to meet demand. The U.S. Chamber of Commerce says its member companies of every size and industry across nearly every state are facing unprecedented challenges trying to find workers to fill open jobs. Right now, the latest data show 9.5 million job openings in the U.S., but only 6.5 million unemployed workers.
Each of these roles requires specific skills: 1) hard skills that show employers a candidate’s expertise and technical ability and 2) soft skills that indicate ability to collaborate with colleagues and solve problems to make positive contributions to an organization. Soft skills are relevant across roles and industries.
While it’s always critical to have the technical skills needed to do the job, employers are looking for candidates who also have soft skills like communication, leadership and time management. These are hard to teach, yet important to long-term success for every worker.
According to the World Economic Forum’s Future of Jobs report, employers are looking for these five skills now:
New Journey’s Gilmore agrees. “Soft skills our clients need across the board include: critical thinking, creative problem-solving, flexibility (ability to work onsite or on a hybrid schedule), communications/active listening, and collaboration. Dependability and reliability are critical as well.
“Employers need workers willing to tackle complex problems and issues in innovative ways,” Gilmore explains. “In order to do this, employees must collaborate, listen to new ideas, and communicate. Employers also need workers who show up, and who are dependable and reliable.”
While job candidates have these skills, they may not present them as well as they could on their resumes. Gilmore suggests candidates highlight problem-solving skills and give examples and results of the efforts – and be prepared to talk about these skills during job interviews. Hiring managers will ask candidates to give examples of how they were able to solve a critical problem or they will describe a typical scenario in their own organization and ask the candidate to present solutions, she says. They want to see the path of critical thinking to solve the problem.
Whether searching for a job in manufacturing, finance or energy, candidates need resumes that stand apart from other applicants: Our recruiters suggest taking the time to work on your resume – and highlight your soft skills, successes, tech expertise and leadership experience. And be prepared to discuss your success at using your soft skills during a job interview. If you need assistance with what employers are looking for, reach out to your recruiter, they’ll be happy to help you!