- The U.S. employment trends index increased in January to 110.24, up from 108.84 in December
- “The improvement in the [Employment Trends Index], along with Friday’s job report and other indicators, suggest that employment growth has been accelerating after several weak quarters in 2019,” Gad Levanon, head of The Conference Board Labor Market Institute, said.
- Source: The Conference Board
- The U.S. tech sector saw employment increase by 15,800 new positions in January
- This signifies a rebound after many flat months in growth
- “This month’s employment data brings tech hiring activity back in line with expectations,” said Tim Hebert, executive VP for research and market intelligence at CompTIA. “Employers continue to signal the need to expand their base of tech talent to meet short and longer-term business objectives.”
- Source: CompTIA
- The U.S. added 291,000 nonfarm, private-sector jobs in January from December
- This increase was above the expected growth of 154,000 and was the largest gain since May 2015
- Source: ADP National Employment Report
- At the end of 2019 job openings were at a two-year low, signifying a weakened hiring demand
- 4 million jobs were open on the last business day of December, less than the 6.8 million in November
- This decrease was felt across industries but retail, manufacturing, and transportation came close to two-year lows for openings
- Also approaching a two-year low are job openings – they now outnumber job hunters by around 670,000
- Source: Bureau of Labor Statistics
- 1% is the current rate at which workers are switching between jobs
- This is an increase over the 2.3% rate seen during the Great Recession
- The increase is thought to be due to a stronger economy
- Accommodation and food services, as well as admin and support services, are the industries seeing the highest job hopping
- Source: Indeed
- A whopping 43% of professionals plan to look for a new job over the next 12 months
- The majority of employers, 61%, planned to raise wages in 2019, which was up from 48% in 2018. What’s in store for 2020?
- Manufacturing saw consecutive increases in employment for over 18 straight months, the longest stretch since the mid-1990s. However, around 90% of manufacturing
companies couldn’t fill all of their open roles.