Insights Portal Shares Wealth of Labor Market Information

ZipRecruiter, a prominent online employment platform, is proud to announce the launch of ZipRecruiter-Research.org, a new hub for in-depth economic research. This cutting-edge website serves as a comprehensive resource, featuring expert commentary from ZipRecruiter’s team of economists and data scientists on the most recent labor market data, coupled with valuable insights derived from the company’s marketplace information and quarterly surveys.

Dedicated to the meticulous collection and analysis of employment data, this platform empowers job seekers, employers, and policymakers with the knowledge to make informed decisions in the dynamic world of work. Through rigorous research and analysis, the team aims to unveil emerging trends and opportunities for both workers and businesses.

ZipRecruiter’s extensive labor market data offers several distinct advantages over publicly available sources. It provides up-to-the-minute insights, delivers a wealth of industry-specific information from various locations, and is grounded in both surveys and real-world employer and job seeker behaviors. Julia Pollak, Chief Economist at ZipRecruiter, extends an invitation to all stakeholders to explore the front-row view of the labor market, with many new data products set to be unveiled over the coming year.

Among the latest research featured on the website is the Q3 2023 edition of ZipRecruiter’s Survey of New Hires. This survey revealed that the majority of recent U.S. job entrants or career changers successfully secured suitable positions after a relatively short job search, though a growing segment faced challenges. Key survey indicators, including salary increases, signing bonuses, and recruitment rates, declined significantly, indicating a shift in worker leverage over the past quarter.

Key findings from the report include:

1. Better pay remains a primary motivator for job switches, but only 58% of new hires reported pay increases in their new roles, with only 18% receiving signing bonuses, down from 64% and 28%, respectively, in the previous quarter.
2. Nearly 29% of new hires expressed interest in taking on part-time seasonal roles during the winter holidays. Their motivations include earning extra income (74%), paying down debt (35%), mitigating the effects of inflation on their budgets (23%), and saving for specific purchases (24%).
3. The prevalence of “quiet cutting,” a practice involving the reassignment of employees to less desirable positions in an effort to encourage them to resign, may be increasing. In 2023, more than half (55%) of those reassigned to less attractive roles in their careers experienced this, with 59% resigning, 9% being terminated, and 7% laid off.

ZipRecruiter-Research.org offers an array of research and insights, making use of ZipRecruiter’s exclusive data on job postings, salaries, benefits, job seeker and employer interactions, in conjunction with proprietary research and government data. The portal promises to provide regularly updated, meaningful labor market trends.

The Economic Research team will offer quarterly releases, including:

1. The Job Seeker Confidence Index, a nationally representative quarterly survey of U.S. job seekers measuring their optimism or pessimism regarding their ability to secure preferred jobs.
2. The Survey of New Hires, a quarterly survey of U.S. residents who began their current jobs within the past six months, providing essential insights into the evolving labor market.
3. Additional reports on timely labor market topics based on survey data and proprietary ZipRecruiter marketplace data.

Moreover, the team will provide monthly commentary on key economic indicators released by The Bureau of Labor Statistics and is readily available to answer questions, facilitate interviews, and offer ZipRecruiter data and insights upon request.