TRU Tips | July 2023

The TRU Staffing Partners Hot Jobs newsletter provides readers with a weekly tip for our professionals and hiring managers in the data privacy, ediscovery, and cybersecurity spaces. With more than 12 years of experience in staffing and recruiting for our industries, our TRU Tips are relevant and crucial for anyone hiring or job hunting in our communities.

July 5th, 2023

According to the New York Times, the major metropolitan areas in the US with the greatest population loss due to remote work were New York, Los Angeles, San Francisco, San Jose, Chicago, and Washington, D.C. 

Top 3 data points from the New York Times analysis of places most affected by remote workers' moves around the country post-pandemic:

1. 3%: The share of remote workers who moved in the prior year skyrocketed 3 percentage points between 2019 and 2021, while in-person worker moves fell just as dramatically.
2. 250K: Number of remote migrants moving to vacation towns with many homes intended for seasonal use.
3. 40%: High earners moved en masse to remote work, with the share of remote workers among those above the 80th percentile in salary soaring to over 40%.

July 12th, 2023 

The direct hire versus contract hire pendulum now swings every 18 to 24 months, not every decade.

Top 3 data points from the 2023 June U.S. Labor Department Jobs Report:

1. Nonfarm payrolls increased 209,000 in June, below the consensus estimate for 240,000.

2. The unemployment rate was 3.6%, down 0.1 percentage point. However, a more encompassing jobless level rose to 6.9%.

3. Wages rose 4.4% from a year ago, slightly higher than expectations.

July 19th, 2023

Retention raises are unlikely to be as generous over the next two years which is already motivating people to explore the market. 

Top 3 TRU trends from Q2 2023:

1. 92% of job seekers are accepting the first offer they are extended (compared to 55% in Q2 2022).

2. 0% of job seekers who received a job offer then received a counteroffer in Q2.

3. 0% of TRU contractors have been asked to convert to full-time employees in over 90 days. 

July 26th, 2023

92% of job seekers are accepting the first offer they are extended (compared to 55% in Q2 2022).

Top 3 takeaways from the IAPP global privacy salary data:

1. U.S. privacy pros make 55% more on average in their base salaries compared to their European counterparts.

2. Cash compensation (base salary and bonus) is still the best way for employers to retain and attract talent.

3. The average adjusted base salary for a privacy pro increased 7% from 2021 and 10% from 2019.