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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

June 2018 Jobs Report

June 2018 Jobs Report

June 2018 Jobs Report

We are officially at the mid-point of the year, and the labor market is still holding up strong. In June 2018, the U.S. added 213,000 jobs, beating economists projections of 195,000 jobs. This is largely the result of the increase in the labor force participation rate. 601,000 workers re-entered the workforce, increasing the labor force participation rate to 62.9%. However, there has been no sign of any trend thus far this year.

Revised jobs for April and May 2018

The Bureau also reported revised job gains for April and May of this year. April’s gains increased from 159,000 added jobs to 175,000 jobs and May’s jobs improved from 223,000 jobs added to 244,000. This is a net increase of 37,000 jobs for April and May combined. Over the past three months, job gains averaged a whopping 211,000 jobs.

Despite the strong job growth, the national unemployment rate slightly edged up to 4.0%. In the month of June, the number of unemployed persons increased by 499,000 people for a total of 6.6 million. A year ago to the date, the unemployment rate was at 4.3% with the number of unemployed Americans totaling 7.0 million.

Average hourly earnings increase

Average hourly earnings also increased by $0.05 or an average $26.98. Over the last year, average hourly earnings have increased by $0.72 or  2.7%.

Employment numbers by industry

Employment in the Professional & Business Services industry led the way in June with 50,000 added jobs.Over the last year, Professional & Business Services added a total of 521,000 jobs.

Manufacturing came in second with an added 36,000 jobs. Over the last year, the manufacturing industry added 285,000 jobs. Healthcare followed closely with 25,000 jobs added. Hospitals added 11,000 jobs and ambulatory services added 14,000. Construction added another 13,000 jobs and has gained a total of 282,000 jobs over the last 12 months.

Mining gained another 5,000 jobs, totaling gains of 95,000 jobs since a slump in October 2016. The Retail industry saw a major loss of 22,000 jobs for the month. This largely offsets the 25,000 jobs gained in May 2018.

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

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

June 2018 Jobs Report

job openings

Job Openings Outnumber Unemployed

job openings

What this means for the world of recruitment

According to the Bureau of Labor Statistics, the unemployment rate ticked down to a 17-year low in May at 3.8%. As a result, there are currently more job openings than unemployed workers. There are 6.7 million job openings in the U.S. but only 6.4 million available workers. Competition for candidates is heating up, totally changing the landscape of the job market.

What does this mean for companies trying to hire in order to meet growth goals? What does it mean for candidates who are considering making a move? We’re doing a deep dive into how candidate-driven market will affect hiring and recruiting for the rest of 2018.

Employers Must Offer Competitive Wages

First and foremost, employers must offer competitive wages. At this point in time, almost everyone who wants a job has a job. So, in order to compete for top talent, employers have to come in strong with offers – including wages and benefits. “Hourly pay for nonsupervisors rose 2.8% in May from a year earlier, the best annual gain since mid-2009.”

Employers Must Have a Swift Hiring Process

The number of workers who are working or seeking work has been on the decline for almost two decades. The candidates who are open to new opportunities are entertaining multiple competitive offers. In order to secure the top echelon talent, employers must prioritize hiring and limit the number of hoops a candidate must jump through during the interview process.

For candidates that look great on paper, skip the phone interview and go straight to a face-to-face. People will appreciate your urgency and feel they are already adding value to your team.

It’s An Ideal Time For Candidates To Make A Move

For candidates, now is the perfect time to make a move. If you’re actively looking for a new position, don’t be afraid to apply to multiple opportunities. For passive candidates, it’s time to freshen up that resume then take the leap! Even if you don’t consider yourself a candidate at all, consider doing some searching or networking to see what is out there. Now is the best time to take the next step in your career, whether that’s in a different location, with a different company, or even a completely different role altogether!

No matter what, one of the best things you can do during an extremely tight labor market is to partner with a recruiter. We have connections with thousands of elite companies and candidates, and we’re ready to make the right match for your future and career goals.

May 2018 Jobs Report

May 2018 Jobs Report

May 2018 Jobs Report

The U.S. labor market added a whopping 223,000 nonfarm payroll jobs in the month of May, blowing away economists’ projections of 190,000. This is a substantial increase from the 159,000 jobs that were gained last month.

The national unemployment rate also slightly decreased to 3.8%, setting a newer 17-year low. This places the total number of unemployed Americans to 6.1 million, down 772,000 workers (or 0.5%) over the year. The labor force participation rate also edged down to 62.7%.

Revised jobs for March and April 2018

The Bureau of Labor Statistics revised March and April job numbers. The March revised numbers shot up from 135,000 to 155,000 jobs. April’s jobs were slightly decreased from 164,000 to 159,000 jobs. This generates a net gain of 15,000 jobs for the last two months.

Average hourly earnings increase

Average hourly earnings also slightly increased to 2.7% over the last 12 months, with average hourly earnings of $26.92. This is a $0.08 increase from April 2018 and a $0.71 increase over the year.

Employment numbers by industry

Employment in the retail and healthcare industries led the way in May with 31,000 and 29,000 jobs, respectively. Ambulatory health care services alone added 18,000 jobs and hospitals gained 6,000. Construction added another 25,000 jobs and has gained a total of 286,000 jobs over the last 12 months.

Professional and Technical services added 23,000 jobs with a total of 206,000 jobs over the last year. Manufacturing gained another 18,000 jobs and mining rose by 6,000 jobs. In fact, the mining industry has added over 91,000 jobs since October 2016.

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

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

May 2018 Jobs Report

April 2018 US Jobs Report

April 2018 Jobs Report

April 2018 US Jobs Report

The U.S. labor market added 164,000 jobs in April 2018, which is slightly below expectations. U.S. economists projected job growth of  192,000 jobs for the month. This is slightly disappointing compared to the average of 208,000 jobs gained over the last three months.

However, the national unemployment rate decreased to 3.9% for the month, its first drop in six months and a new 17-year low. This puts the total number of unemployed persons at 6.3 million. The labor force participation rate also edged down to 62.8%.

The Bureau of Labor Statistics revised February and March job numbers to 324,000 and 134,000, respectively. This generates a net gain of 30,000 jobs for the past two months.

Average hourly earnings also grew 2.7% over the last 12 months, with average hourly earnings for the month reaching $26.84, a $0.04 increase from March.

Employment in the professional and business industry led the way again with 54,000 jobs added this month. The manufacturing and healthcare industries followed with 24,000 jobs each. Manufacturing has netted 245,000 jobs over the last 12 months and healthcare added 305,000. In fact, ambulatory healthcare services added 17,000 jobs and hospitals added another 8,000.

The mining industry added 8,000 jobs, with a total of 86,000 jobs over the past year.

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

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

April 2018 Jobs Report