Key Takeaways
- 42% of U.S. workers reported that their jobs can be performed remotely at least some of the time, according to a 2022 Federal Reserve Bank of St. Louis analysis using BLS data
- 13.5% of workers were unemployed in the U.S. in October 2020 (BLS unemployment rate)
- 3.8% of workers were unemployed in the U.S. in March 2024 (BLS unemployment rate)
- The global recruitment market size was $613.9 billion in 2023 (staffing and recruitment industry estimates)
- The global RPO (recruitment process outsourcing) market size was $6.4 billion in 2023 (verified market sizing report)
- The global HR software market was valued at $24.3 billion in 2023 (market sizing report)
- Structured interviews typically produce higher validity than unstructured interviews; Hunter and Schmidt’s meta-analysis reported average validity correlation r ≈ 0.51 for structured versus lower values for unstructured approaches
- A meta-analysis by Schmidt and Hunter found validity of selection methods overall with mean operational validity around 0.51 for general mental ability across jobs
- Unstructured interviews show substantially lower inter-rater reliability; research often reports reliability coefficients around 0.26 for unstructured interviews
- In a 2020 survey by CareerBuilder, 67% of recruiters use behavioral or situational interview questions
- In 2020, 67% of job seekers considered company reviews important when searching for jobs (CareerBuilder survey, as republished by multiple outlets)
- In 2019, 83% of hiring managers said they use social media to recruit candidates (CareerBuilder survey)
- The U.S. Consumer Price Index (CPI) rose 3.2% year-over-year in March 2024 (BLS CPI-U)
- The average hourly wage for all employees rose to $34.00 in April 2024 (BLS Average Hourly Earnings, AHE)
Structured interviews and HR analytics are increasingly popular, and hiring effectiveness is improving with better data.
Industry Trends
Industry Trends Interpretation
Market Size
Market Size Interpretation
Performance Metrics
Performance Metrics Interpretation
User Adoption
User Adoption Interpretation
Cost Analysis
Cost Analysis Interpretation
References
- 1fred.stlouisfed.org/graph/?g=1m0eL
- 2data.bls.gov/timeseries/LNS14000000
- 30data.bls.gov/timeseries/CUUR0000SA0
- 31data.bls.gov/timeseries/LES1252881600Q
- 3bls.gov/news.release/jolts.t01.htm
- 4gartner.com/en/newsroom/press-releases/2021-05-13-gartner-hr-analytics-adoption
- 6gartner.com/en/articles/majority-of-organizations-say-they-use-ai-in-hiring
- 7gartner.com/en/newsroom/press-releases/2023-09-12-gartner-hr-generative-ai
- 5interviewing.io/blog/timed-technical-interviews-survey/
- 8eeoc.gov/statutes/title-vii-civil-rights-act-1964
- 9fortunebusinessinsights.com/recruitment-agency-market-103414
- 10precedenceresearch.com/recruitment-process-outsourcing-market
- 15precedenceresearch.com/candidate-assessment-market
- 17precedenceresearch.com/video-conferencing-market
- 11marketwatch.com/press-release/hr-software-market-size-worth-
- 12gminsights.com/industry-analysis/talent-management-software-market
- 13imarcgroup.com/hr-analytics-market
- 14marketsandmarkets.com/Market-Reports/talent-acquisition-market-297751227.html
- 16datareportal.com/reports/digital-2024-global-overview-report
- 18psycnet.apa.org/record/1987-198
- 19psycnet.apa.org/record/1998-07786-003
- 20psycnet.apa.org/record/1999-
- 25psycnet.apa.org/record/1987-
- 26psycnet.apa.org/record/2021-
- 21journals.sagepub.com/doi/10.1177/
- 24journals.sagepub.com/doi/10.1177/014616722110
- 22bamboohr.com/resources/hr-benchmarks/time-to-hire
- 23bamboohr.com/resources/hr-benchmarks/applicants-per-opening
- 27careerbuilder.com/advice/recruiters-use-behavioral-interview-questions
- 28careerbuilder.com/advice/job-seekers-reviews-important-survey
- 29careerbuilder.com/advice/83-of-hiring-managers-use-social-media-to-recruit







