The unemployment rate fluctuated widely in 2020 and yet candidate volume and related recruitment metrics were relatively stable in comparison.
• Layoffs and furloughs, which would typically result in more candidate volume, did not, for the most part, lead to a tsunami of job applications. Health concerns, government financial support, and issues related to school closings and child care all caused many would-be job seekers to pause.
• A number of industries/functions had difficulty finding candidates to fill open positions. Apply rates and cost-per-click bids for these industries/functions reflect this.
• The overall average cost-per-click (CPC) increased 11.27%, from $0.71 in 2019 to $0.79 in 2020, while the overall apply rate increased by 5.40%, from 5.00% in 2019 to 5.27% in 2020. This means you likely paid more on a per-application basis, despite a December unemployment rate of 6.7% in 2020 in comparison to a December unemployment rate of 3.5% in 2019.
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