It’s halfway through the year so the CS Recruiting Team has got our eyes on trends and news stories impacting supply chain, logistics, and jobs. As part of our “Be Curious” company value, we meet regularly to discuss and reflect on market conditions. The current landscape is bustling with activity and interesting shifts so let’s talk about what it could mean for our hiring managers and job seekers. There is a lot to unravel–and while there’s plenty to be intrigued by, it’s not all smooth sailing. As we dive into recent headlines, we'll explore the nuances shaping supply chain, logistics, and the job market. Here are three takeaways from our team:
A few recent headlines from major industry players signal continued uncertainty in the market. There were two news stories in particular that got our team talking:
Notably, Coyote Logistics sold for $1.8 billion in 2015 and this most recent sale was at a loss for $1.025 billion. These big moves from both UPS and FedEx reflect the industry's ongoing operational challenges and their concerted efforts to stay agile.
Based on what we’re seeing day-to-day and via the hundreds of job seekers and hiring managers we’re talking to, this job market is still feeling wobbly. Don’t just take it from us–the evidence is in these headlines too:
The continued wariness in the job market can feel daunting, however, we’re seeing some bright spots:
The defense and construction industries are both seeing high demand this summer. US defense contractors including Lockheed Martin, Northrop Grumman and General Dynamics are looking to fill nearly 6,000 roles. The construction job market typically sees a spike in summer, of course, but this year is a bump from the usual demand. June is seeing an extra 7,000 roles on top of the typical 20,000.
As our team reflected on current global and national business, it’s important to note that some recent events are signaling a healthier economy:
The Consumer Price Index (which measures the average change in price over time for consumer goods) increased by 3% in June year-over-year, slower than the 3.3% rate last month. We could start to see a cut in interest rates per the Federal Reserve by September. For us and our peers in the supply chain and logistics industries, there are promising numbers coming from the top five retailers in the nation. Shipment volume is up 30% from last June.
Our mid-year pulse on supply chain, logistics, and hiring presents a mixed yet potentially optimistic outlook. The landscape is currently characterized by persistent challenges, as evidenced by moves from major industry players. Yet, there continue to be reasons to be hopeful. As we navigate the rest of the year, our team intends to stay informed and be adaptable. If you’re looking to hire, retain or job seek but remain puzzled by these market conditions, we encourage you to stay flexible, keep an open mind, and reach out to experts (like us!) for support.
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