Category: Employers

Employers

Private Sector Employment Increased by 184,000 Jobs in March

ADP News Release (04/03/24) In March, private sector employment surged by 184,000 jobs, accompanied by a significant 5.1% year-to-year increase in annual pay, as reported by the March ADP National Employment Report. “March was surprising not just for the pay gains, but the sectors that recorded them. The three biggest increases for job-changers were in construction, financial services, and manufacturing,” said Nela Richardson, chief economist,

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Manufacturing May Need 3.8 Million Employees by 2033
Employers

Manufacturing May Need 3.8 Million New Employees by 2033

Staffing Industry Analysts (04/03/24) The US manufacturing sector could require 3.8 million new workers by 2033, but over half of these positions might remain vacant due to the skills gap and a shortage of applicants. Digital skills are increasingly essential in manufacturing, with a notable surge in demand for skills such as simulation software expertise. Fast-growing roles in the sector include statisticians, data scientists, engineers,

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Job Openings Changed Little
Employers

Job Openings Changed Little in February

U.S. Bureau of Labor Statistics (04/02/24) In February, the number of job openings changed little at 8.8 million, according to the U.S. Bureau of Labor Statistics. Both hires and separations saw minimal change, with 5.8 million hires and 5.6 million total separations (including 3.5 million quits and 1.7 million layoffs and discharges, which also changed little). Job openings increased in finance and insurance (+126,000); state

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Employers

Lowest-Paid Workers Are Seeing Their Wages Surge

MarketWatch (03/22/24) The Economic Policy Institute’s report reveals that from 2019 to 2023, the real wages of the lowest-paid workers surged by 12.1%, outpacing other earners, due to minimum wage hikes, stimulus payments, and a tight labor market. However, despite these gains, the lowest-earning 10% of workers still earn less than $13.52 per hour. Certain low-wage workers, particularly job-switchers, are better off post-pandemic, narrowing the

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Employers

Turnover Stays High in These Industries

USA Today (03/18/24) Workers in certain industries continue to quit their jobs at elevated rates, often to secure better-paying positions. Sectors experiencing higher turnover are offering substantial pay increases to attract and retain talent. Personal care services (+0.4%); transportation, warehousing, and utilities (+0.2%); information (+0.1%); and manufacturing (+0.1%), are experiencing higher quits rates compared to pre-pandemic levels according to a Moody’s Analytics analysis of data

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Employers

Why is it Difficult for Some Workers to Find a Job?

MarketWatch (03/11/24) The U.S. labor market appears robust overall, with more than three million jobs added in 2023 and the unemployment rate hovering below 4% for two years, a feat last achieved in the 1960s. However, this growth is mainly concentrated in sectors like government, health care, and hospitality, leaving other industries with slower hiring or job losses. While workers in growing sectors enjoy job

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