Where are all the New Jobs Coming From?
The United States economy added well over 300,000 jobs in February 2018 alone. Following is a peek at what industries are hiring large numbers of workers.
Specialty trade contractors were clearly in high demand as is evidenced by the fact that this field added an outstanding 38,000 jobs. Another 16,000 jobs were added to the building construction sector. Both residential and non-residential construction companies added a lot of new workers; however, many employers noted that it has been a challenge to find employees with the right experience and/or educational qualifications.
The retail industry added 50,000 jobs last month. The Bureau of Labor Statistics estimates that about 18,000 of these new jobs came from general merchandise stores. Clothing and clothing accessory stores was the second largest employer with 15,000 new jobs while building supply and gardening stores generated an additional 10,000 new jobs.
Professional and Business Services
Professional and Business services added yet another 50,000 new jobs last month, providing many employment opportunities for lawyers, accountants, marketers and advertisers. However, most of the employment opportunities in this field were not all that glamorous. Administrative and waste management services created more than half of all the new jobs in this field. Technical services were in particular demand as 19,000 new jobs opened for those with the right skills.
Manufacturing has generated 31,000 new jobs. Nearly a third of all these new jobs involve working with primary metals and/or fabricated metal products. Transportation equipment manufacturing generated 8,000 new jobs while machinery manufacturing generated 6,000 new jobs.
Perhaps the most amazing aspect of last month's job report is the fact that there are multiple new job opportunities in a wide variety of sectors. While the industries above generated the most jobs, other fields to add new jobs last month include finance, education, health, government and mining and logging. The market's current condition makes now the ideal time to either find a new job or to switch careers.