March JOLTS Report

JOLTS Report: 7.6 Million Jobs Openings

March JOLTS Report

In January of 2019, we saw 7.6 million job openings, smashing December 2018’s record out of the park by nearly 300,000 jobs! Here is a brief summary of the latest Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics:

  • Job openings: 7.6 million
  • People hired: 5.8 million
  • Total number of people who left their jobs: 5.6 million
    • People who voluntarily quit their jobs: 3.5 million
    • People who involuntarily left their jobs: 1.7 million
    • People who left their jobs for retirement or their reasons: 336,000

The labor market is still on fire

Regardless of the “disappointing” Jobs Report released earlier this month, the labor market remains competitive. In today’s candidate-driven market, there is less than one available candidate per open job in the country. Like last month, 3.5 million Americans voluntarily left their jobs and sought out greener pastures. And over the last three months, job gains have averaged 186,000 per month.

Simply put, the market is hot! There’s no doubt about it. If your organization’s hiring process is not efficient, you may struggle to fill your critical positions. But don’t panic! Just because the market is crazy, it doesn’t mean your search for candidates has to be! Partner with a recruiter to help you find the talent your team needs and continue on with your day. You have enough to worry about, so why not let a professional take some of that stress off of your shoulders?

February 2019 Jobs Report

February 2019 Jobs Report

February 2019 Jobs Report

In February 2019, the US saw its weakest hiring rates in over a year with a 20,000 increase in non-farm payrolls, after a gain of 311,000 the month prior. Wages bested projections and saw an average increase of 11 cents to $27.66 after a 2-cent increase in January. Unemployment also continued to decline, dropping from 4% in January to 3.8% in February, leaving roughly 6.2 million Americans presently unemployed.

The number of long-term unemployed, defined by those who are jobless for at least 27 weeks, experienced essentially no change. The long-term unemployed continued to hover around 1.3 million, or 20.4% of the total unemployed.

Revisions

Revisions from the January Jobs Report include an increase in nonfarm payroll employment for December 2018, from 222,000 to 227,000, and January 2019, from 304,000 to 311,000. These revisions show employment gains of 12,000 more than previously reported. Moreover, this revision brings the average job gains over the last three months to 186,000.

By Industry

In February health care added 21,000 jobs to bring its total to over 361,000 jobs this year. Ambulatory services rose by 16,000 jobs this month alone.

Wholesale trade employment also continued to trend positively, rising by 11,000 jobs to bring its yearly total to 95,000.  Additionally, manufacturing employment saw its own jump of 4,000 jobs last month.

Employment in construction saw a decrease in jobs, declining by 31,000 in February, offsetting a January increase of 53,000 jobs. Heavy and Civil engineering was particularly affected, experiencing a decrease of 13,000. Overall, construction has still added 223,000 jobs on the year.

Other industries like leisure and hospitality, mining, retail trade, transportation and warehousing, information, financial activities, and government saw little or no change over the course of the month.

Reasoning

Despite the increase in wages, the dip in payroll may suggest that employers are struggling to find qualified workers. Other plausible causes include the frigid weather our country experienced as a whole or the end-part of the government shut down. A decrease in construction jobs would seem to support this notion.

JOLTS Report

JOLTS Report: Job Openings Reach an All-time High

JOLTS Report

In December of 2018, we saw the most job openings since the government started keeping track in 2000! The Job Openings and Labor Turnover Survey (JOLTS) reported that there were 7.3 million job openings, among other insightful data. To quickly summarize, in addition to the 7.3 million job openings, we saw 5.9 million people get hired. In addition, 5.5 million total people left their jobs, with 3.5 million of those people voluntarily quitting.

Additionally, 1.7 million people left their jobs as a result of layoffs or other involuntary measures, while 366,000 left their careers for retirement.

Notice the high rate at which people are voluntarily leaving their jobs. People are becoming more confident in their career possibilities and quickly taking advantage of it. Whether you are actively searching for a new opportunity or not – good, skilled workers are in high demand.

Learn more about the simple ways you can further your career opportunities from some of our articles listed below.

Resources to help boost your job search

January 2019 Jobs Report

January 2019 Jobs Report

January 2019 Jobs Report

For the second month in a row, the unemployment rate slightly rose to 4.0 percent. in January, the number of unemployed persons also edged up to a total of 6.5 million people. These numbers were slightly impacted by the 35-day partial government shutdown. However, despite these downward trends, nonfarm payroll employment increased by a staggering 304,000 jobs in January, nearly doubling economists’ expectations.

This unexpected boom in job creation is drastically greater than the monthly average of 223,000 job gains in 2018.

Revised Jobs for November and December

January 2019 marks a significant milestone: the 100th straight month of job gains. Moreover, December job gains were revised down from 312,000 jobs to 222,000. And in November, employment was revised up from 176,000 jobs to 196,000. With the following revisions, job gains combined in November and December were 70,000 less than originally reported. Despite this adjustment, the average growth in jobs over the last three months is now 241,000 jobs.

Long-term unemployment

The number of long-term unemployed changed little over the month. Long-term unemployed persons were 1.3 million people and accounted for 19.3 percent of the total number of unemployed Americans. Additionally, the labor force participation rate was relatively unchanged at 63.2 percent, marking a five-year high.

Average hourly earnings

Average hourly earnings bumped up $0.03 in January for an average of $27.56 per hour. Over the year, average hourly earnings increased by 3.2 percent for a total of $0.85.

Employment by industry

In January, the Leisure and Hospitality industry led the way with an impressive 74,000 job gains. The majority of this increase is from gains in food services and drinking places. Moreover, the industry added a total of 410,000 jobs over the year.

Additionally, employment rose in the Construction industry by 52,000 jobs. 24,000 of these jobs is thanks to an increase in specialty trade contractors. Construction has added 338,000 jobs over the past 12 months.

Healthcare once again increased their production of job gains. 42,000 jobs were added in January, with 22,000 of which were from ambulatory health care services. Healthcare has added 368,000 jobs over the past year.

Transportation and Warehousing rose by 27,000 jobs, illustrating little change from December. Although merchandising stores lost 12,000 jobs in January, retail trade has managed to gain 26,000 jobs over the year.

Professional Services added an impressive 30,000 jobs and Manufacturing continued to trend upwards with an increase of 13,000. Mining also saw an increase of 7,000 jobs in January. Over the year, Mining has added 64,000 jobs, almost all of which are from activities for mining.

Wholesale Trade, Information, and Financial Activities saw little change over the month of January.

December 2018 Jobs Report

December 2018 Jobs Report

December 2018 Jobs Report

Job growth in 2018 ended strong with U.S. employers adding 312,000 jobs last month, the fastest pace since February. Wages also surged with the best annual gain since 2008. Moreover, the unemployed rate rose slightly from the 50-year low of 3.7 percent to 3.9 percent. However, this slight increase in the unemployment rate is due to more Americans entering this strong job market.

A year ago today, the unemployment rate was 4.1 percent with the number of unemployed persons equaling 6.6 million. Fast forward to today and the unemployment rate is at 3.9% with only 6.3 million unemployed persons.

Revised jobs for October and November

The 312,000 job gains shot economists’ expectations of 181,000 jobs out of the water. Additionally, payroll increases for October and November were revised upward by an additional 58,000 jobs. October’s job gains were revised from 155,000 to 176,000 and November’s gains from 237,000 to 274,000.

After revisions, job gains have averaged an outstanding 254,000 jobs per month over the last 3 months.

Long-term unemployment

In December, long-term unemployment remained relatively unchanged at 1.3 million. This accounts for just 20.5 percent of the unemployed. Over the year, long-term unemployment was down by 205,000 people. The labor force participation rate again remained relatively unchanged at 63.1 percent.

Average hourly earnings increase

Average hourly earnings rose by $0.11 for an average hourly rate of $27.48 in December. Over the last year, average hourly earnings have risen by $0.84 or 3.2%.

Employment numbers by industry

Healthcare led the way again with 50,000 jobs added in December. Ambulatory healthcare services added 38,000 jobs and hospitals gained 7,000 jobs. Over the year, the Healthcare industry added 346,000 jobs and 284,000 in 2017.

Additionally, employment in Professional Services continued to show signs of strength with an addition of 41,000 jobs last month. The industry has added 583,000 jobs in 2018, vastly outpacing job gains of 458,000 in 2017

The Food Services industry increased by 41,000 jobs and has added a total of 235,000 jobs in 2018 and 261,000 in 2017. Construction followed closely with an addition of 38,000 jobs in December. The majority of these gains (16,000) are from heavy and civil engineering construction. Over the year, the Construction industry added 280,000 jobs and in 2017 added 250,000.

Manufacturing jobs increased by 32,000 in December, 19,000 of which were generated from durable goods components. Over the year, Manufacturing employment has increased by 284,000 jobs with about seventy-five percent of which coming from durable goods. In 2017, the industry added 207,000 jobs.

Retail Trade rose by 24,000 jobs in December. Gains in this industry were largely offset by job loss in sporting goods, music and bookstores, and hobby stores with a loss of 9,000 jobs.

November Jobs Report

November 2018 Jobs Report

November 2018 Jobs Report

Although job growth fell short for the month of November, the unemployment rate remained 3.7 percent for the third month in a row. Last month, the U.S. economy added 155,000 jobs, notably short from analyst estimates of 198,000. The number of long-term unemployed Americans declined by 120,000 in November, for a total of 1.3 million.

Furthermore, the labor force participation rate remained unchanged at 62.9 percent while the number of job gains grew. This illustrates the strength and competitiveness of the job market.

Revised jobs for September and October 2018

The Bureau of Labor Statics also reported revised job gains for September and October for this year. September’s job gains were revised slightly up from 118,000 to 119,000. And for October, the number was revised down from 250,000 to 237,000. After revisions, the average monthly gains for jobs over the last three months has been a staggering 170,000 jobs.

Average hourly earnings increase

Average hourly earnings rose by $0.06 for an average hourly rate of $27.35. Over the last year, average hourly earnings have increased by $0.81 or 3.1%. This is the fastest growth of average hourly earnings in nearly a decade.

Employment numbers by industry

The Healthcare and Professional & Business Services industries led the way with an increase of 32,000 jobs in November. Ambulatory healthcare services were the biggest contributor to this jump for healthcare with a total of 19,000 jobs added. Over the year, Healthcare has added 328,000 jobs. In contrast, the Professional & Business Services industry has added an impressive 561,000 jobs over the year.

The Manufacturing industry followed closely with an additional 27,000 jobs added in November. 6,000 of these jobs were from chemical manufacturing and about 3,000 were from primary metals. Over the past 12 months, 288,000 have been added by Manufacturing.

Employment in the Transportation and Warehousing industry rose by 25,000 last month. This is not a surprise as the holidays quickly approach. In fact, 10,000 of this gain was from couriers and messengers. Retail Trade added 18,000 jobs in total. Merchandise stores added a whopping 39,000 jobs. However, this large gain was offset by a sharp decline of 14,000 jobs from clothing and clothing accessories stores, as well as an 11,000 decline in electronics.

Employment in all other industries, including mining, construction, wholesale trade, information, financial activities, leisure and hospitality, and government illustrated little change in November.

Check out our infographic below for more stats from the November 2018 Jobs Report:

November 2018 Jobs Report

October 2018 Jobs Report

October 2018 Jobs Report

October 2018 Jobs Report

The unemployment rate for October 2018 remained at 3.7 percent, the lowest rate since December of 1969. A whopping 250,000 jobs were added in the month of October. Additionally, the number of unemployed persons remained nearly unchanged with a total of 6.1 million people. Over the past 12 months, the number of unemployed persons decreased by 449,000 people and the unemployment rate has dropped 0.4 percent.

What’s really exciting about October’s report is the labor force participation rate rose to 62.9 percent while the number of job gains grew. This is a strong indication for the strength of the economy and the competitiveness of our current job market.

Revised jobs for August and September 2018

The Bureau of Labor Statics also reported revised job gains for August and September for this year. September’s job gains were revised down from 134,000 to 118,000. And for August, the number was revised up from 270,000 to 286,000. After revisions, the average monthly gains for jobs over the last three months has been a staggering 218,000 jobs.

Average hourly earnings increase

Average hourly earnings rose by $0.05 for an average hourly rate of $27.30. Over the last year, average hourly earnings have increased by $0.83 or 3.1%. This is the fastest growth of average hourly earnings in nearly a decade.

Employment numbers by industry

Employment in leisure and hospitality added 42,000 jobs in October. Unemployment was relatively unchanged in September, which is likely due to the impact of Hurrican Florence. Over the past two months, the average gain of 21,000 jobs was equal to the average monthly gain in the industry.

Once again, the Healthcare Industry experienced growth with the addition of 36,000 jobs. 13,000 of those jobs stem from the hospitals an 8,000 jobs in nursing and residential care facilities. Throughout the last 12 months, Healthcare employment has grown by 323,000 jobs.

The Manufacturing industry increased by 32,000 jobs, marking a 296,000 gain of jobs over the year. 10,000 jobs came from transportation equipment alone. Construction followed closely with a gain of 30,000 jobs in October. Construction job gains have totaled 330,000 jobs over the year with no sign of decline in sight.

Transportation and Warehousing added 25,000 jobs last month. Over the year, 184,000 jobs have been added. Professional and Business services continued to trend upward with a gain of 35,000 jobs and a total of 516,000 jobs over the year. Mining also saw growth with the addition of 5,000 jobs in the Month of October. Over the year, the industry has blossomed to a healthy 65,000 jobs added.

The employment in other major industries, including wholesale trade, retail trade, information, financial activities, and government showed little to no change throughout the month of October.

Check out our infographic below for more stats from the October 2018 Jobs Report:

October 2018 Jobs Report

September 2018 Jobs Report

September 2018 Jobs Report

September 2018 Jobs Report

The unemployment rate dropped down to 3.7 percent in September 2018, the lowest rate in 48 years. A total of 134,000 jobs were added in the month of September. The number of unemployed persons throughout the country decreased by 270,000 to 6.0 million. Over the year, the number of unemployed persons dropped by 795,000 and the unemployment rate has decreased by 0.5 percent. Again, the force participation rate clocked in at 62.7%.

Revised jobs for July and August 2018

The Bureau of Labor Statics also reported revised job gains for July and August for this year. July’s job numbers were revised to 165,000 from the originally reported 147,000. For August, the number was revised down from 201,000 to 270,000. This revision equates to a combined addition of 87,000 jobs than previously reported for the last two months.

After these revisions, job gains have averaged 185,000 per month of the last three months.

Average hourly earnings increase

Average hourly earnings rose by $0.08 for an average hourly rate of $27.24. Over the last year, average hourly earnings have increased by $0.73 or 2.8%.

Employment numbers by industry

For the fourth month in a row, employment in the Professional & Business Services industry led the way with 54,000 jobs added in September. Over the last 12 months, 560,000 jobs have been added to Professional & Business Services.

Healthcare employment rose by 26,000 jobs in September for a total of 302,000 jobs added over the past year. Hospitals alone added over 12,000 jobs in the month of September. The Transportation and Warehousing industry generated 24,000 jobs last month, and over the last 12 months have added a total of 174,000 jobs.

The Construction industry continued to added jobs. In September, Construction increased by 23,000 jobs for a total of 315,000 over the past year. Once again, Mining added 6,000 jobs for the month for a total of 53,000 jobs over the year.

The Leisure and Hospitality industry decreased by 17,000 jobs last month. The Beauru of Labor Statistics reports that some of this decline is likely from the aftermath of Hurrican Florence.

The employment in other major industries, including wholesale trade, retail trade, information, financial activities, and government showed little to no change throughout the month of September.

Check out our infographic below for more stats from the September 2018 Jobs Report:

September 2018 Jobs Report

August 2018 Jobs Report

August 2018 Jobs Report

August 2018 Jobs Report

For the 95th month in a row, U.S. employers added payrolls, extending the record of the longest continuous job expansion. In August 2018, 201,000 jobs were added and the unemployment rate remained unchanged at 3.9 %. This surpassed economists’ expectations of about 190,000 jobs. Additionally, the labor force participation rate nudged down to 62.7%.

Revised jobs for June and July 2018

The Bureau of Labor Statics also reported revised job gains for June and July for this year. June’s job numbers were revised to 208,000 from the originally reported 248,000. For July, the number was revised down from 157,000 to 147,000. This revision equates to a combined decreased of 50,000 fewer jobs than previously reported.

After these revisions, job gains have averaged 185,000 per month of the last three months.

Average hourly earnings increase

Average hourly earnings rose by $0.10 for an average hourly rate of $27.16. Over the last year, average hourly earnings have increased by $0.77 or 2.9%.

Employment numbers by industry

For the third month in a row, the Professional & Business Services industry led the way in August with 53,000 jobs gained. Over the past 12 months, the Professional & Business Services industry added a total of 519,000 jobs.

The Healthcare industry followed with an additional 33,000 jobs added in August. In the past year, Healthcare added a total of 301,000 jobs. Ambulatory services alone added over 21,000 jobs over the month of August. Wholesale Trade employment added 22,000 jobs this past month and has added a total of 99,000 jobs over the past 12 months.

Transportation and Warehousing rose by 20,000 in August for a grand total of 173,000 jobs gained over the past year. Mining increased by 6,000 jobs over the month. And since October 2016, Mining has added 104,000 jobs, almost entirely in support activities for mining.

The Construction industry continued to trend upwards with a gain of 23,000 jobs. Construction employers have added 297,000 jobs over the past year.

Manufacturing employment slightly changed in August for a loss of 3,000 jobs. Over the year, the Manufacturing industry was up by 254,000 jobs.

The employment in other major industries, including retail trade, information, financial activities, leisure and hospitality, and government showed little change over the month.

Check out our infographic below for more stats from the August 2018 Jobs Report:

August 2018 Jobs Report

July 2018 Jobs Report

July 2018 Jobs Report

July 2018 Jobs Report

The United States added fewer jobs than anticipated in the month of July, but the labor market remains rock-solid. In July, 157,000 jobs were added, which is lower than the anticipated 190,000 jobs. However, the unemployment rate edged down to 3.9%, narrowly missing an 18-year low. The labor force participation rate remained at a strong 62.9%.

Revised jobs for May and April 2018

The Bureau also reported revised job gains for May and June and May of this year. The number of jobs added in May was revised from 213,000 jobs to a whopping 248,000. And in June, the revised number of jobs added increased from 244,000 to 268,000 jobs. The results equal a net change of 59,000 jobs added.

Over the past three months, the number of jobs added averages out to 224,000.

Average hourly earnings increase

Average hourly earnings also increased by $0.07 or an average $27.05. Over the last year, average hourly earnings have increased by $0.71 or 2.7%.

Employment numbers by industry

Once again, employment in the Professional & Business Services industry led the way in July with 51,000 added jobs. Over the 12 months, Professional & Business Services added a total of 518,000 jobs.

Manufacturing came in second with an added 37,000 jobs. Over the last year, the manufacturing industry added 327,000 jobs. Healthcare followed closely with 34,000 jobs added. Hospitals added 7,000 jobs and social assistance, individual and family services
added a combined 14,000.

Food services increased 26,000 in the month of July with a total increase of 203,000 jobs over the year. Construction followed with an increase of 19,000 jobs. The construction industry has added a staggering 308,000 jobs over the year. Retail saw a slight increase of 7,000. This is favorable to the 22,000 jobs lost in June 2018.

The employment in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, mining, and government showed little to no change over the month.

Check out our infographic below for more stats from the July 2018 Jobs Report:

July 2018 Jobs Report