November Jobs Report Exceeds Analyst Expectations

US Jobs Report PROVES the jobs are out there -so go get em!

According to the the U.S. Bureau of Labor Statistics and their most recent Jobs Report, the U.S. economy added 321,000 jobs in the month of November. This is significantly higher than the 230,000 predicted by economists. In fact, this is the biggest single-month gain in payrolls since January of 2012. Echoing that good news, October’s report was also revised higher from 214,000 job gains up to 243,000. The September numbers also were revised up to 271,000 from 256,000. The unemployment rate itself remains unchanged at 5.8%, however that is a decline from 7.2% just a year earlier matching the largest year-over-year decline in three decades. It is also notable that this marks the 10th straight month of 200,000 plus payroll totals. A very positive streak indeed, and the longest such streak since 1995. When considering all of this data it becomes fairly clear that America’s employer’s are definitely hiring once again. In other words, the jobs are certainly out there, and the great news is that you can find literally millions of them on JobInventory

So where specifically are all these jobs being created? Well, according to the BLS,

In November, job growth was widespread, led by gains in professional and business services, retail trade, health care, and manufacturing.

To be precise, in November, payrolls grew by 50,000 in the retail sector (more than double its 22,000 job average over the past year), the healthcare sector added 29,000 jobs, manufacturing added 28,000 jobs, and professional and business services jobs grew by 86,000. And, in fact, the JobInventory jobs index independently supports this data by mirroring the same significant job increases in each of these fields on our own website. For example, today on JobInventory you can find close to 350,000 Professional and Business Service jobs, close to 600,000 Retail jobs,  almost 700,000 Health Care jobs, and about 250,000 Manufacturing Jobs.

Drilling deeper into the jobs report numbers we find a few more worth mentioning. While, the labor force participation rate held steady at 62.8% the “U-6” unemployment rate, which includes those who are working part time for economic reasons (involuntarily), fell from 11.5% to 11.4%. Better yet, we are finally seeing a small but definite up tick in wages.  Specifically, wage gains came in better than expected, growing 0.4% month-on-month. Average hourly wages were up 9 cents from a month ago, and the average work week increased by 0.1 hour. That works out to a gain in average hourly earnings of 2.1% from a year ago. The average hourly wage for all private non-farm employees now stands at $24.66.

So what does all of this mean to you?  Well, bluntly put …no more excuses! Millions of great jobs are out there, employers are eager to hire, and wages are going up. Simply put, as the highly motivated and qualified job seeker we know you are -employers want to hear from you today. So, if you have been sitting on the job market sidelines, now is the time to suit up and hit the field. Whether you are looking for your first job,  or considering a career change, there’s no better time than TODAY to come visit us on JobInventory  –where it is more true than ever when we say,  YOUR NEXT JOB IS HERE!

Happy Hunting!


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