WHAT THE DATA SAY: New hires, raises still planned amid uncertainty, hiring managers say

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

WORRIES ABOUT ECONOMY DOWN BUT JOB-LOSS CONCERNS GROW: 

Today, 84% of Americans are concerned about the economy and inflation – down 1 point from last week and closer to the 82% rate we saw in December.

• 81% worry about a potential U.S. recession (no change)
• 80% about U.S. crime rates (down 2 points)
• 74% about the War in Ukraine (up 2 points)
• 73% about political divisiveness (no change)
• 68% about affording their living expenses (down 1 point)
• 58% about a new COVID-19 variant (up 3 points)
• 54% about losing their jobs (up 11 points)

WOMEN INCREASINGLY CONCERNED WITH WORRY – WITHOUT HEALTHCARE SUPPORT: 

Women are increasingly consumed by worry and let down by a health care system that neglects their needs, our “The State of Women” survey with theSkimm found.

• 71% are consumed with worry – thinking through every single scenario, at home and work, and planning for every contingency.
• 82% of women surveyed said that, while there’s much talk about how overburdened women are, no one is actually helping ease the burden.
• 63% of Millennial women – and 70% of LGBTQIA Millennial women – said they’ve received disappointing or inadequate medical care.
• 59% reported that they had sought treatment from doctors who did not believe them or ignored their needs.
• 77% of women agreed with the statement “I am the only advocate for my health and well-being.”
• For example, 92% of women said they are now prioritizing their health and 81% said they are “actively seeking new lifestyles that prioritize their health and well-being.”

NEW HIRES, RAISES STILL ON TAP, HIRING MANAGERS SAY: 

American hiring managers are forecasting pay bumps and hiring sprees even amid economic uncertainty, according to our survey with Express Employment Professionals.

• 75% of hiring managers predict employees at their companies will receive a bump in pay this year, up from 58% in 2020.
• 60% of hiring managers say their company plans to increase the number of employees in the first half of 2023, on par with the first and second halves of 2022.
• 45% said they have open positions they cannot fill. That is the highest proportion of job openings reported since the study began in the first half of 2020.
• Those positions remain unfilled due to a lack of applicants (40%), lack of applicants with relevant experience (47%), hard skills (46%) and/or soft skills (31%).
• 29% say their company needs more money in the budget this year or that their upper management still needs to approve new hiring.

SLEEPLESS IN AMERICA: 

Our Wake Up America survey with Idorsia finds the far-reaching effects of insomnia on personal relationships and the compounded overall effects on our health.

• 41% of people with trouble sleeping say it causes them to argue more with their partner or disrupt their partner’s sleep and their relationship overall.
• 53% report their trouble sleeping is an added relationship stressor, with 41% saying their partner has had to pick up the slack with household chores and nearly a third (31%) saying they have slept in a separate bed.
• While 67% of primary care physicians say they ask about sleep in routine visits, only 36% of people with trouble sleeping report being asked.

ICYMI: In case you missed it, check out some of the thought-leadership and happenings around Stagwell making news:

• The unsung heroes of the American economy: Grandmothers

• New Survey Reveals Half of Americans are Concerned about their Water Access and Safety
• Is ChatGPT a viable solution for brands, marketers and global businesses seeking fast-paced, low-cost multilingual content localization and adaptation?