Employment Trends as of January 2020.

by | Feb 25, 2020 | Trends | 0 comments

This article covers the highlights and our views about Current Employment Statistics from BLS

 

      • Couriers and messenger jobs were rising in January 
      • Retail trade jobs took a big hit and has been consistently not doing well other than specific months when consumers go out to buy. 
      • Manufacturing is seeing a decline in jobs, especially in the automotive sector. 
      • Construction industry is seeing consistent highs! Employment in construction increased by 44,000 in January. Insurance Going through this article the highlights we gathered are as follows: 
        • Looking through 2018, 2019 and 2020 beginning, the industry with consistent jobs and a healthy employment rate was ‘professional and technical services’  
        • Within this area – specializations like computer design, technical professions, administrative and waste services and building services were very healthy. 
        • Accounting jobs were lower than usual 
        • Architecture and engineering were also on the lower side 
        • The other industry which has been able to employ consistently and also is seeing a rise is transportation and warehousing.  

      So, what does all of this mean? When looking for jobs, employment trends are good to evaluate. For example 

      There was a time when a marketing degree professional could start in a retail environment, get experience and then eventually get a Master’s degree and change industries. The retail industry would give them the start they needed. If the retail industry is not hiring, this strategy could be a bit of a problem. 

      If the automotive sector is not hiring then the mechanical engineers, or trades could take a hit and one would want to look at other industries to get their first starting job. 

      The good thing is that if the professional service sector is still doing good, then a lot of graduates will still have hope. Overall, in January of 2020, lots of industries employed a lot of people. The trend is good and hopefully will stay the same. 

      Such reports also give you affirmation on your strategy, meaning, if you decided not to do Petroleum Engineering in the last year or so, your strategy was sound. According to BLS, O&G /mining industry is still losing jobs. 

      Healthcare on the other hand is consistently showing positive numbers. Ambulance services, hospitals (nurses), physician office services were all up on the rise. 

      So which industries were employing people in January of 2020? 

      1. Healthcare 
      1. Construction 
      1. Professional services 
      1. Transportation / Warehousing 

    Not so good 

    1. Manufacturing – Automotive 
    1. Mining / O&G 
    1. Retail 
    1. Certain financial services