Making informed hiring decisions starts with understanding the market. FactoryFix provides access to localized Labor Market Insights reports to help you set competitive pay, understand talent availability, and create more effective job postings.
What Information is in a Labor Market Report?
Each report is tailored to a specific job title and location, providing key data points such as:
- Competitive Wage Analysis: See the typical pay range (e.g., 25th, 50th, and 75th percentile) for the role in your specific geographic area.
- Talent Supply and Demand: Understand how many qualified candidates are likely in your area versus the number of open positions.
- Demographic Information: Get insights into the local talent pool.
How to Use Labor Market Data
You can use these insights to build a smarter recruiting strategy:
- Set Competitive Pay: Use the wage data to ensure your pay range is attractive enough to draw top talent.
- Manage Expectations: If talent supply is low, you may need to broaden your search radius or be more flexible on requirements.
- Refine Job Postings: Tailor your job description and required skills based on the realities of the local market.
How to Request a Report
You can request a report directly within the FactoryFix platform.
- Navigate to the section for Labor Market Insights (location may vary).
- Follow the prompts to request a report for a specific job title and location.
- Our team will then prepare your custom report and email it to you.
Our data is aggregated from trusted sources including the Bureau of Labor Statistics (BLS), Census.gov, O*NET, and real-time job board data to provide an accurate and comprehensive view of the labor market.