Posts

June 2020 Jobs Report

June 2020 Jobs Report: A Spark of Light in the Labor Market

Despite recent spikes in COVID-19 cases, the U.S. labor market exemplified signs of recovery in the June 2020 Jobs Report. Last month, non-farm payrolls added 4.8 million jobs in June, much higher than the +2.9 million expected by economists. As a result, the unemployment rate dropped to 11.1%, which is also better than the predicted rate of 12.4%. Overall, we still have a long way to go before we return to our pre-pandemic state, but we have seen a spark of light in the U.S. labor market for two consecutive months.

June 2020 Jobs Report Overview

The addition of 4.8 million jobs is a massive jump from May’s gain of 2.7 million jobs, marking the most significant single-month increase in U.S. history. “The 4.8 million rise in non-farm payrolls in June provides further confirmation that the initial economic rebound has been far faster than we and most others anticipated,” said Michael Pearce, senior U.S. economist at Capital Economics.

These numbers are a little surprising since jobless claims keep rolling in each week. In another report released by the Department of Labor, U.S. unemployment claims clocked in at 1.427 million. However, this contrast is partly because not every unemployed American is returning to work, even after states and counties continue to open. Thus, many of the 4.8 million jobs are new jobs that have been created over the last month.

The unemployment rate declined by 2.2%, from 13.3% in May to 11.1% last month. The labor force participation rate also saw a nice bump to 61.5%, another strong indication that we are well on our way to recovery. Additionally, the number of temporary layoffs in June fell by 4.8 million to a total of 10.6 million, following last month’s trend.

Where are the job gains at?

Significant employment increases occurred in leisure and hospitality (+2.1 million), retail trade (+740,000), education and health services (+568,000), manufacturing (+356,000), professional and business services (+306,000), construction (+158,000), transportation and warehousing (+99,000), wholesale trade (+68,000), financial activities (+32,000), and government (+33,000). Unfortunately, the mining industry continued to lose jobs (-10,000). Employment in all other services industries increased by +357,000.

Revisions from previous months

Over the last couple of months, non-farm payroll employment was revised. In April, employment was declined by 100,000 from -20.7 million to -20.8 million. However, May’s employment levels saw a positive change of +190,000 from +2.5 million to +2.7 million. With these revisions, employment in April and May combined was +90,000 higher than previously reported.

Employers are hiring again

The last two job reports illustrate that the country is beginning to recover. We are far from our pre-pandemic job gain levels and historic-low unemployment rates, but we are making progress. These numbers show the resiliency of our country and employers across the country. If you are currently on the job market, we have hundreds of opportunities with employers that need talent like you. Check out our job board and find the next step in your career today.

May 2020 Jobs Report

May 2020 Jobs Report: The Job Market Starts to Rebound

Defying all odds and expert predictions, the unemployment rate fell to 13.3% last month, according to the Bureau of Labor Statistics. Nonfarm payrolls also rose by an unprecedented 2.5 million jobs in May. These results shatter economists’ predictions of hitting a record-high unemployment rate of 19.5% and a decline of 8.3 million jobs. If these predictions came to fruition, we would be in the largest state of decline since the Great Depression.

Although not close to its pre-pandemic state, the job market is recovering as people thankfully return to work. Here is a brief breakdown of the May 2020 Jobs Report.

May 2020 Jobs Report Overview

Last month, the unemployment rate was at 14.7% with a massive decline of 20.5 million jobs; numbers we haven’t seen in decades. Fast forward to May, and despite the impact of the Coronavirus, we’ve taken a massive leap in the right direction. The fact that economists predicted a loss of 8.3 million jobs and we gained 2.5 million shows that the U.S. is well on it’s way to recovery.

“It seems the damage from the nationwide lockdown was not as severe or as lasting as we feared a month ago,” said Scott Clemons, chief investment strategist at Brown Brothers Harriman.

This report is shocking to most as another 1.9 million unemployment claims were reported yesterday, totaling nearly 43 million unemployment claims. This drastic increase in jobs despite record-breaking unemployment gains “suggests that the U.S. economy is more resilient than expected,” said Seema Shah, chief strategist at Principal Global Investors.

Where were the job gains?

Significant employment increases occurred in leisure and hospitality (+1.2 million), construction (+464,000), education and health services (+424,000), and retail trade (+368,000). Government employment continued to decline last month (-585,000). Manufacturing also saw a gain of +225,000 jobs, and so did professional & business services with +127,000 jobs.

Revisions from previous months

Total nonfarm employment was revised in both March and April. In March, payrolls were revised down from -881,000 to -1.4 million. And in April, payrolls declined from -20.5 to -20.7 million. With these revisions, combined employment in March and April was 642,000 lower than previously reported. After these revisions, we have averaged a monthly loss of 6.5 million jobs per month over the past three months.

Employers are still hiring

Overall, May’s Jobs Report is truly great news as we continue to recover from this global pandemic. However, we still have a long way to go and must be patient. But employers are beginning to bring workers back and hire new staff members. If you’re currently looking for a new job, Johnson Service Group is here to help. Check out our job board to find your next opportunity!

April 2020 Jobs Report

April 2020 Jobs Report: Jobs Fall by 20.5 Million

In April, another 20.5 million jobs were lost because of the COVID-19 pandemic. This decline is the biggest loss since the Great Depression and a massive leap from March’s loss of 870,000 jobs. This surge in job losses comes as no surprise as more than 33 million Americans have filed for unemployment claims since the end of March. The unemployment rate also ticked up 10.3%, for a total unemployment rate of 14.7% in March. This unemployment rate is the largest month-to-month increase since the BLS started tracking these statistics. Here is a brief overview of the April Jobs Report.

April 2020 Jobs Report Summary

These job losses are over double the losses recorded during the 2008 financial crises and the steepest decline since the government began recording this data in 1939. After the 2008 Financial Crises, the U.S. added 22.8 million jobs in a decade, but sadly, the Coronavirus has wiped out (at least temporarily) a decade’s worth of gains.

The industries hit the hardest last month was Leisure and Hospitality (7.7 million), Education and Health Services (2.5 million), Professional and Business Services (2.1 million), Retail Trade (2.1 million), Manufacturing (1.3 million), Government (980,000), and Construction (975,000).

Despite all of the job losses, average hourly earnings increased by $1.34, to $30.01 an hour. This increase is the result of essential workers earning hazard pay and lower-paid workers, unfortunately, losing their jobs.

Job Gain Revisions

In both February and March, total nonfarm payroll employment was revised down. In February, job gains revised down from +275,000 to +230,000, and in March, job losses revised from -701,000 to -870,000. These combined changes were 214,000 jobs lower than previously reported.

Light at the end of the tunnel

There is no disputing the stark outlook based on statistics from the BLS over the last three months. However, on a more positive note, we should hopefully start seeing a comeback in several states. In fact, 19 states are now only in a partial lockdown and are beginning to reopen. In states like these, thousands of Americans will thankfully get back to work and return to a little normalcy. Some of the businesses that have been hit hardest, such as restaurants, dental offices, and construction, can open back up. That is a significant step in the right direction for our country.

The curves are starting to flatten in many states; it finally feels like there is light at the end of the tunnel. We are all in this together and must continue to be patient. We will overcome this and come out stronger and more united as a nation.

March 2020 Jobs Report

March 2020 Jobs Report: Jobs Fall by 701,000, Unemployment at 4.4%

In March, jobs fell by 701,000, showing the wreckage caused by the coronavirus crisis. Last month is the first time the BLS has reported a loss in jobs since September 2010. This is no surprise as unemployment claims spiked to 6.6 million (from March 22-28) as Americans struggle to cope with the economic impact of COVID-19. As a result, the unemployment rate surged to 4.4%, the highest rate since August 2017.

Let’s take a brief look at the March 2020 Jobs Report

The industry that was hit the hardest from the COVID-19 pandemic was the Leisure and Hospitality industry, with a loss of 459,000 jobs. That’s nearly two-thirds of the total job losses for March. Most of these job losses are from bars and restaurants that are sadly forced to close during the shutdown to help flatten the curve of the virus. However, as soon as these establishments can open up their doors again, the majority of these jobs will return.

Other industries hit hard by the virus were Healthcare (-61,000), Professional & Business Services (-52,000) Retail Trade (-46,000), and Construction (-29,000). Employment for the Federal Government actually rose by 18,000 jobs as the U.S. prepares to facilitate the 2020 Census.

Despite all this negativity, average hourly earnings continued to rise with an $0.11 increase to $28.62 per hour. Over the last 12 months, average hourly earnings have increased by 3.1%.

Before the COVID-19 pandemic

Before the pandemic sweeping the world, the labor market was holding steady, with jobs gains averaging +243,000 jobs over the prior three months. And in February alone, job gains clocked in at a mind-blowing 275,000 jobs. The unemployment rate was also sitting pretty at 3.5% – a 50-year low. And in 2019, average monthly job gains equaled 178,000 jobs. In other words, the economy and job market were humming along strongly until the pandemic.

Stay calm and stay patient

Yes, there is no disputing that these numbers are devasting. And this is just the begging as economists believe the March 2020 Jobs Report is only an indication of what’s to come in April. But social distancing is working. Data from California and Washington state show that “Stay Home, Stay Safe” orders are helping to flatten the curve of new cases. The sooner we overcome this virus, the sooner we can all go back to work. Yes, this virus is keeping people from working, but if we take the proper precautions, we can overcome this battle and return to our everyday lives.

February 2020 Jobs Report

February 2020 Jobs Report: Expectations Destroyed with +273,000 Jobs

The February 2020 Jobs Report is in, and the results blew away economists’ predictions. In February, the U.S. economy added 273,000 jobs, and the unemployment rate dipped back down to 3.5%. However, average hourly earnings have seen stagnant growth over the last few months, with a 3% growth in February. Overall, the labor market is holding steady as we make our way through 2020.

Here is an overview of the February 2020 Jobs Report

The U.S. economy had a huge hiring push with 273,000 jobs, blowing away economists’ estimates of 173,000 job gains. As a result of this hiring spark over the last two months, the unemployment rate nudged back down to a 50-year low of 3.5%.

In addition to February’s impressive gains, the BLS reported substantial revisions over the last two months. In December, job gains were revised up from 147,000 to 184,000 jobs (an increase of 37,000). And in January, revisions saw an increase of +47,000 jobs, from 225,000 to 273,000 jobs. So, over the last two months, job additions were 85,000 higher than previously reported. After revisions, job gains have averaged an impressive 243,000 per month over the previous three months.

Impact of Coronavirus

This growth is remarkable because, in 2019, average monthly job gains were 178,000. As you can see, 2020 hiring is off to a strong start, and there are no signs of it slowing down as we approach the end of the First Quarter. However, despite this strong growth, many are still worried about the impact of the Coronavirus on hiring. It will be interesting to see how COVID-19 effects hiring going forward as the outbreak continues to develop. The damage is insignificant thus far, but this virus may change how employers hire and make an impact on the hiring strategies of some employers, such as moving interviews to a virtual format.

In February, job gains were widespread in a handful of different industries. Here is a brief breakdown of gains by industry:

Job gains by industry

  • Healthcare: +32,000 (+368,000 jobs over last 12 months)
    • Physician Offices: +10,000
    • Home Healthcare Services +10,00
    • Hospitals: +8,000
  • Social Assistance: +25,000 (+191,000 jobs over last 12 months)
  • Food Services and Drinking Places: +53,000 (+252,000 jobs over the last 7 months)
  • Government: +45,000
    • State Government Education: +16,000
    • Federal Employment: +8,000
  • Construction: +42,000
    • Specialty Trade Contractors: +26,000
    • Residential Building: +10,000
  • Professional and Technical Services: +32,000 (+285,000 jobs over the last 12 months)
    • Architectural and Engineering Services: +10,000
    • Scientific Research and Development: +5,000
    • Computer System Design: +8,000
  • Financial Activities: 26,000 (+160,000 jobs over last 12 months)
    • Real Estate: +8,000
    • Credit Intermediation: +6,000

Employment in other major industries, including mining, manufacturing, wholesale trade, retail trade, transportation and warehousing, and information, changed little over the month.

Avoid the hiring madness by partnering with a professional

As you can see, the market is hot in the first two months of 2020. With March well underway, the hiring madness is only going to climb as we quickly approach the end of Q1. If you want to get ahead of the competition, and secure the talent you need to achieve your growth goals, partner with one of our recruiters today. We have a team of recruiters ready to make an immediate impact on your organization’s production. Reach out to us, and let’s start sourcing some talent together!

January 2020 Jobs Report

January 2020 Jobs Report: 225,000 Jobs Added

The new decade is off to a strong start with the U.S. economy adding 225,000 jobs in January. The unemployment rate also ticked up to 3.6% as more Americans decide to look for new career opportunities. Additionally, year-over-year hourly wages are up 3.1%. As you can see, all signs are indicating an active labor market as we make our way into 2020. Let’s take a closer look at the January 2020 Jobs Report.

January 2020 Jobs Report Breakdown

January is the 112th month of consecutive job gains and was definitive proof that the labor market is speeding up. The unemployment rate also increased a tenth of a percent (to 3.6%) above last month’s 50-year low. These results blew away economists’ predictions of a measly 164,000 jobs for January. And if that isn’t impressive enough, last month’s gains clocked in at 50,000 more jobs than 2019’s monthly average of 175,000.

Over the previous two months, employment gains were slightly revised up by 7,000 jobs. Job gains in November were revised up by 5,000 (from +256,000 to +261,000) and gains from December increased by 2,000 jobs (from +145,000 to +147,000). However, over the last three months, employment gains are averaging 211,000 per month, much higher than the monthly average over the last 12 months.

Average hourly earnings also saw a bump in January with an increase of $0.07 to $28.44. Over the last 12 months, average hourly earnings have climbed by 3.1%. Average hourly earnings have been relatively flat over the last year or so, but regardless, remain on the positive side.

Jobs gains by industry:

  • Construction: +44,000 jobs (+12,000 monthly average in 2019)
    • Residential: +18,000
    • Nonresidential: +17,000
  • Healthcare: +36,000 jobs (+361,000 jobs over last 12 months)
    • Ambulatory Healthcare Services: +23,000
    • Hospitals: +10,000
  • Leisure and Hospitality: +36,000 jobs (+288,000 jobs over last 6 months)
  • Transportation and Warehousing: +28,000 jobs (+106,000 jobs over last 12 months)
    • Couriers and Messengers: +14,000
    • Warehousing and Storage: +6,000
  • Professional and Business Services: +21,000 jobs (+390,000 over last 12 months)
  • Manufacturing: -12,000 jobs
    • Motor Vehicles: -11,000 jobs

To summarize, jobs continue to increase at a steady rate, and more job seekers are entering the job market as their confidence continues to grow. If your team needs help sourcing talent in this tight market, let’s work together. Our team of recruiters is ready to help make an impact on your hiring efforts in 2020. Reach out to us today!

December 2019 Jobs Report

December 2019 Jobs Report: U.S. Creates 145,000 Jobs

The numbers are in for the final Jobs Report of the decade, and the BLS reported job gains of 145,000 throughout the month of December. As a result, 2019 was the ninth straight year of annual employment gains surpassing 2 million. Despite missing economists’ estimates of 164,000 job gains, the unemployment rate has remained a steady 3.5 percent (a half-century low) over the last three months. In other words, the labor market is holding steady as we enter the new year.

December 2019 Jobs Report breakdown

December also marks the 111th month in a row of job gains. With the addition of 145,000 jobs last month, employment rose to 2.1 million throughout 2019. And although short of economists’ projections, Michael Pearce, senior U.S. economist at Capital Economics, labeled last month’s job growth as “solid” even though it missed estimates and said, “We expect solid gains in payrolls to extend through 2020.” And if that isn’t impressive enough for you, jobless claims fell for a 4th week in a row to 214,000, which is back near post-recession lows.

Over the previous two months, employment gains from the previous two months were slightly revised down by 14,000 jobs. Job gains in October were revised down by 4,000 (from +156,000 to +152,000) and gains from November decreased by 10,000 jobs (from +266,000 to +255,000). However, over the last three months, employment gains are averaging 184,000 per month. And over the last 12 months, the economy added an average of 176,000 jobs a month in 2019.

Average hourly earnings continued to rise with an increase of $0.03, for a total hourly rate of $28.32. Over the last 12 months, average hourly earnings have increased by 2.9 percent – the lowest annual pace since July 2018. Additionally, the labor force participation rate remained little changed at 63.2 percent. Overall, the labor market is primed for another big year as we enter a new decade.

Job gains by industry

Here is a break down of the nonfarm payroll job gains for the month of December:

  • Retail Trade: +41,000 jobs
    • Clothing and Accessories Stores: +33,000 jobs
    • Building Material & Garden Supply: +7,000
  • Leisure and Hospitality: +40,000 (+359,000 jobs over the last 12 months)
  • Healthcare: +28,000 (+399,000 over the last 12 months)
    • Ambulatory Healthcare Services: +23,000
    • Hospitals: +9,000
  • Construction: +20,000 (+151,000 jobs over the last 12 months)
  • Professional and Business Services: +10,000 (+397,000 jobs over the last 12 months)
  • Mining: -8,000 (-24,000 jobs over the last 12 months)
  • Transportation and Warehousing: -10,000 (+57,000 jobs over the last 12 months)
  • Manufacturing: -12,000 (+46,000 jobs over the last 12 months)

Get the talent acquisition assistance you need in 2020

All signs are indicating that 2020 will be another strong year of growth for the U.S. economy labor force. If you had struggles filling your critical roles and sourcing skilled candidates in 2019, you’ll likely face the same challenges in the new year. If you want to get a kickstart on your hiring efforts this year, partner with a recruiter. At JSG, we have a team of recruiters ready to partner with your organization to source the talent you need to have another successful year in 2020. Reach out to us today, and let’s get to work!

November 2019 Jobs Report

November Jobs Report: 266,000 Job Gains

The latest Jobs Report released from the BLS revealed a stellar performance in November with nonfarm payrolls surging by 266,000, shattering economists’ expectations of 187,000 jobs. Economists also predicted the unemployment rate would remain constant at 3.6 percent; however, November’s unemployment rate ticked down to 3.5 percent, back to tying the lowest level ever recorded since 1969. To summarize, the labor market is still holding firm as we approach the end of the year. Let’s take a closer look at November’s Jobs Report.

A deep dive of November’s Jobs Report

November was the 110th month in a row of job gains. With 266,000 jobs added, this was the best month of job gains since January 2019’s 312,000. A significant chunk of last month’s gain was due to the conclusion of the lengthy strike of General Motors’ employees. Last month, the end of GM’s strike brought 41,300 people back to work, generating the majority of November’s total manufacturing job gains of 54,000. However, even if you remove the strike from consideration, nonfarm payroll gains completely smashed all expectations from Wall Street.

If that doesn’t impress you, the latest Jobs Report also positively reported revisions from the prior two months. In September, job gains increased by 13,000 for a total of 193,000 jobs, and for October, job gains also ticked up by an impressive 28,000 jobs to 156,000 for the month. After revisions, job gains have increased by 41,000 jobs over the past two months. These changes improved 2019’s average monthly job gains to 180,000.

Average hourly earnings continued to rise with an increase of $0.07, for a total hourly rate of $28.29. Over the last 12 months, average hourly earnings have increased by 3.1 percent. Economists were projecting a flat gain of 3.0 percent like it was last month. Additionally, the labor force participation rate remained little changed at 63.2 percent. All in all, these are all signs that the labor market looks to hold steady as we near 2020.

Job gains by industry

Below is a break down of nonfarm payroll job gains throughout the month:

  • Manufacturing: +54,000 jobs
    • +41,300 from GM workers returning from strike
  • Leisure and hospitality: +45,000 (+219,000 total gains over the last four months)
  • Healthcare: +45,000 jobs (+414,000 total gains over the last 12 months)
    • Ambulatory healthcare services: +34,000
    • Hospitals: +10,000
  • Employment in professional and technical services: +31,000 jobs (+278,000 total gains over the last 12 months)
  • Transportation and warehousing: +16,000
    • Warehousing and storage: +8,000
    • Couriers and messengers: +5,000
  • Financial activities: +13,000 (+116,000 total gains over the last 12 months)
    • Credit intermediation and related activities: +7,000
  • Retail trade: +2,000
    • General merchandise stores: +22,000
    • Motor vehicle and parts dealers: +8,000
    • Clothing accessories stores: -18,000
  • Mining: -7,000
    • Support activities for mining: -6,000

Need help navigating this tight market?

As you can see, the market remains tight and doesn’t look to slow down in the new year. With only one more month of 2019, it may be time to enlist some help to fill those critical roles by the end of the year. If you’re interested in partnering with a recruiter that specializes in your industry, reach out to us today, and let’s work together!

November 2019 JOLTS Report

November 2019 JOLTS Report

The Job Openings and Labor Turnover Survey (JOLTS) is out, and the labor market is still as attractive as ever for job seekers. On the last business day of September 2019, there was little change from the month prior, with a total of 7.0 million job openings. Also, the number of total hires had a slight bump up to 5.9 million throughout the month. The quit rate held steady at 2.3 percent, which illustrates the confidence of job seekers to leave their jobs to find more fruitful opportunities.

Here is a breakdown of the latest November 2019 JOLTS Report.

November JOLTS Report

  • Job Openings: 7.0 million
  • Hires: 5.9 million
  • Separations: 5.8 million
    • Voluntary: 3.5 million
    • Involuntary: 2.0

The job market remains resilient

If you compare last month’s JOLTS Report to today’s, there are two important things to note:

  • The number of hires edged up
  • The number of separations bumped up

When looking at these two figures together, it’s clear that job seekers are becoming more and more confident in today’s labor market. More people are getting hired, yet more people are voluntarily leaving their jobs to seek out new opportunities. When pairing this with the current unemployment rate of 3.6 percent, the outlook for the labor market is strong as we head closer to 2020.

Furthermore, the number of job openings (7.0 million) is still well above the number of those seeking employment (5.8 million). The net change in employment continued to look attractive. Over the last 12 months (ending in September 2019), there was a total of 69.9 million hires and 67.4 million separations. That is an enticing net employment gain of 2.5 million. And with the BLS reporting last Friday a surprisingly strong revision in job additions from the prior two months (+95,000 jobs) than previously reported, the labor market is looking great for job seekers (and spooky for employers)!

How will you obtain the talent you need?

In this tight market, having an efficient hiring process is critical. If your process is too slow or has too many hoops to jump through, it may be time to make some changes to improve the process for your candidates. If your team is struggling to do so, have you thought about enlisting some help from a recruiter? At JSG, we have a dedicated team of recruiters with decades of industry experience. Let’s work together to source the talent your team needs to end the year on a strong note. Contact us today!

October Jobs Report

October Jobs Report: 43,000 More Jobs Than Expected

The numbers are in, and the Bureau of Labor Statistics reported a strong gain of 128,000 jobs, which is 43,000 more jobs than economists predicted. Moreover, the unemployment rate ticked up a tenth of a percent from a 50-year low to 3.6 percent. This small increase in unemployment is due to an even more substantial rise in the U.S. labor force (those Americans who are working and actively seeking employment). Overall, this month’s Jobs Report demonstrates that the economy is healthy and should ease fears of a looming recession.

Let’s take a more in-depth look at the October Jobs Report

October was officially the 109th month in a row of job gains despite a couple of factors. The six-week GM strike reduced employment by 42,000 jobs, according to the BLS. However, the strike is finally over, so we are likely to see a nice bump in November’s report as the striking workers head back to work. Additionally, the number of workers helping prepare for the 2020 census dropped by a whopping 20,000. Thus, if you take both of these numbers into consideration, the number of jobs added theoretically could be 62,000 higher.

Another factor that should boost all our confidence in the economy is the revised job gains over the previous two months. In August, job gains were revised up by 51,000 (219,000 jobs in total), and in September, job gains were revised up by 44,000 (a total of 180,000 jobs). With these revisions, job gains over the last two months equate to 95,000 more jobs than previously reported. After revisions, job gains have averaged an impressive 176,000 over the previous three months. And over the year, job gains have averaged 167,000.

Average earnings for all employees continued to rise with an increase of $0.06, for an average hourly wage of $28.18. Over the last 12 months, hourly wages have increased by 3 percent. The labor force participation rate was also little changed at 63.3 percent. These are both great signs that the labor market remains strong as we get closer to 2020.

Job gains by industry

The food services and drinking places industry added a staggering 48,000 jobs. Over the last three months, this industry has averaged 38,000 job gains.

The professional and business services group ticked up again in October (+22,000). The industry as a whole has averaged 33,000 gains over the year.

In October, employment in social assistance increased by 20,000 jobs and a total of 139,000 over the past year. Family services made up most of these gains, with 17,000 jobs added.

Financial activities rose by 16,000, with the majority of gains from real estate, rental, and leasing (+10,000). Financial activities have added a total of 108,000 jobs over the last 12 months.

Healthcare once again added jobs (+15,000) with total job gains of 402,000 over the last year.

Job declines by industry

Not surprisingly, manufacturing employment fell by 36,000 jobs in October, due to the 6-week strike from GM workers in the motor vehicles and parts realm (-42,000 jobs).

Moreover, employment in the federal government fell by 17,000 jobs in October due to the departure of 20,000 workers finishing up their work prepping for the 2020 Census.

Employment in other major industries–including mining, construction, wholesale trade, retail trade, transportation and warehousing, and information—showed little change over the month.

Let’s work together

With only two months left of the year, it’s essential to take care of your hiring needs to start the year off strong. If you need a helping hand to navigate today’s candidate-driven market, reach out to one of our stellar recruiting teams. We have decades of industry experience and can help source the candidates your team needs to start the new year on the right foot. Partner with a recruiter today!