A Quick Snapshot of the Michigan Job Market
A report released recently by the University of Michigan confirms what many Michiganders already know: the Michigan economy is roaring.
And with the roaring economy, job growth in Michigan will continue to grow in 2017 and 2018, according to the report from UM’s Research Seminar in Quantitative Economics.
Consider these numbers: the Michigan economy added 69,000 jobs in 2016, and is projected to add 41,600 jobs in 2017 and 50,000 jobs in 2018 — or a three-year new job total of 160,600 jobs.
But what job sectors will experience the most growth?
Contrary to what typically happens in Michigan, manufacturing will not be driving the new job growth — but rather, manufacturing will lose about 10,000 jobs over the next two years, says the report. The report projects job gains to come from these sectors (with the number of new jobs projected to be created between 2017–2018 in parentheses):
- Professional and Business Services (33,000)
- Construction (22,000)
- Trade, Transportation and Utilities (18,000)
- Leisure and Hospitality (14,000)
As a Michigan staffing firm, these numbers tell us that many Michigan employers will be looking for talent at breakneck speed in 2017 and 2018– with some having to stretch their resources in order to find the talent they need.
Businesses within the sectors identified above will be especially challenged to find the talent they need to keep their businesses running at an optimal level.
This may be a great time for some Michigan-based businesses to consider outsourcing some or all of their HR functions. An HR partner like Malace HR can help your business find and procure the best talent that is out there — to fill the exact role you need to keep your business moving forward.
We also can handle the management of all HR needs that accompany the hiring process, including drug & background testing, safety training, payroll and timekeeping, benefit administration, and employee evaluations and disciplinary action.
Not sure how long your business growth will be sustained? Then consider Malace HR’s temporary staffing services. We can fill those hard-to-fill jobs with talent — and then, as soon as the need diminishes, we simply remove the employee from your payroll — no hassle, no headache.
Or perhaps your business growth will require expanding your executive team? Our executive recruitment services will deliver to you a world class executive, who works well with your existing team while also having a vision for growth.
This may be the best time to talk to a Malace HR professional about your businesses growth — and how we can provide affordable alternative to conventional hiring and HR services.
HR is all we do — let us help your team do what you do best!