The U.S. job market exceeded anyone’s predictions with 336,000 jobs added, the U.S. Bureau of Labor Statistics reports. This is in comparison to economists’ predictions of 170,000 jobs. The unemployment rate also remained steady at 3.8%.
This is great news for anyone looking for new employment opportunities.
These job gains were the most pronounced among the fields of leisure and hospitality and government, with 96,000 jobs added 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 2020. Accommodation also continued to grow. However, it remains at 10.3% less than what was observed pre-pandemic.
Government employment grew by 73,000 in September. This is significantly higher than the trend of 47,000 observed over the prior 12-month period. These jobs were primarily added in state (education) and in local government.
Other industries saw positive growth, as well. Although the health care 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 labor disputes within the industry. It should be noted that this might 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, rising 0.2% in September and 4.2% during the past 12 months. The average hourly wage for all employees was $33.88.
What does this growth mean to those looking for a new job? This might be a great time to look for a job in certain industries. And, overall, the economy seems to be more resilient than even economists expected.
Unfortunately, there might be negative consequences in other parts of the economy. Overall, this is still great new 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.
Angela Copeland, a leadership and career expert, can be reached at www.angelacopeland.com.