Three things the US job report says:

Job-Report

Job statistics, we have all seen them. You may notice them popping up from the front page of a magazine or out of the corners of your newspapers. These days no matter where you look you will surely find an article explaining to you about the employment market. So why is this little piece of information so important? If we look at it on a large scale then this information has several uses. A company may learn from this data what all the other companies are doing in terms of employment and so use this information to make decisions on their annual recruitments. On a more private scale this information will give the reader an idea about the competition that prevails in the employment market.

When you look at employment statistics you are sure to learn a few things. The one thing you will notice right off the bat is the total number of jobs that were created in a country during a particular year. Following that would be a detailed report mentioning the number of new jobs created per industry. Industry specific data is extremely useful if the industry you are applying to work in is prone to fluctuations. Another component is the average hourly earnings of a working individual. This particular part will tell you exactly how much you stand to get receive if you were to take up a job in this sector. Most news strips are a generalization of all of the above statistics but there are some that go the extra mile and inform you about industry specific statistics.

Whenever you look at a report on payroll and its excerpts you must keep in mind to look for recent statistics. The following three tidbits were gathered at the end of September and they show promising jobs creations in the months to come as well.

  1. Professional and business services sector have had it ruff since 2010. Over the years they have greatly had to reduce the pace of their recruitment but this year they managed to spring back with about 571,000 new jobs being added to their existing payroll. This remarkable recovery has only been observed in this sector and no other this year.
  2. Wall street, the traders of securities, contracts, investments and commodities have sourced 4800 jobs in this month. A simple round up of all of their employment records reveals that they have created 19,100 jobs all year round. These figures prove that they have doubled the employment opportunities since 2007.
  3. The average hourly earnings were discovered to be $24.53 an hour in September which is about 2 percent higher than the average earnings discovered that year. This figure however does not reveal the earnings in the oil and gas industry. The highest noted figure was $34.10 in August which put a generous 8 percent increase over the annual rate.

To sum it up the report reveals an increase in job creation during the month of September with about 280,000 jobs being made available all over the country. It has also been noted that the figures were equally high in the month preceding September.

If you are new to a particular industry or just looking for a new job then you may find these figures to be of help. It goes to say that even if a particular line of work seems to be losing their momentum it doesn’t necessarily mean that it will never pick up its pace again. There are a lot of industries who have learnt to recover their ability to recruit in a short span of time. So make sure you never lose hope and keep trying!

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