There’s exciting news in the September jobs report from the U.S. Bureau of Labor Statistics. In September, the job market in the U.S. far exceeded anyone’s predictions. A total of 336,000 jobs were added. This is in comparison to economists’ predictions of 170,000 jobs. The unemployment rate also remained steady at 3.8 percent. This is great news for many job seekers, who are continuing to look for new employment opportunities.
These job gains were the most pronounced among the fields of leisure and hospitality and government. Leisure and hospitality added 96,000 jobs in September. This far outpaced the average of 61,000 jobs seen each month over the past 12 months. Food services jobs rose by 61,000 jobs. This has helped to return the industry to the pre-pandemic levels observed in February of 2020. Accommodation employment is also continuing to grow. However, it remains at 10.3 percent less than what was observed pre-pandemic.
During September, government employment grew by 73,000. This is significantly higher than the trend of 47,000 observed over the prior 12 month period. These jobs were primarily added in state government education, and in local government.
Other industries saw positive growth as well. Although the healthcare industry added fewer jobs than previously seen, 41,000 jobs were added in September. Professional, scientific, and technical services jobs increased by 29,000. This is a consistent with the trend observed over the past 12 months.
Employment in the motion picture and sound recording industries trended down, and has declined by 45,000 jobs since May. This is a reflection of the labor disputes within this industry. It should be noted that this may be an underestimation, as many of the writers in the Writers Guild of America are contract workers, and are not included in the 45,000.
Other major industries did not see a positive or negative change in September. Mining, quarrying, oil and gas, construction, manufacturing, wholesale trade, retail, and other services industries remained stable.
The average hourly wage has remained fairly consistent. It rose by 0.2 percent in September, and 4.2 percent over the past 12 months. The average hourly wage for all employees was $33.88.
If you’re looking for a new job, what does this growth mean for you? In certain industries, this may be a great time to look for a job. And, overall, the economy seems to be more resilient than even economists expected. Unfortunately, there may be negative consequences in other parts of the economy. But, overall, this is still great news for job seekers.
If you’re looking to land a new gig before the end of the year, do not wait. It typically takes two months or more to receive a job offer. There are times when it takes this long just to go through one interview process. The increase in jobs does not mean that landing a new job will be quick or easy. Don’t delay. Begin by cleaning up your resume today.