Jul 8, 2018

Go deeper: The industries that are hiring, and the ones that aren't

Photo: Jonathan Torgovnik/Getty Images

Although 213,000 U.S. jobs were added in June, some industries are struggling to keep up with job availability more than others, according to the Bureau of Labor Statistics June job report.

The big picture: This is the 93rd straight month of job creation, the longest streak to date, but the kind of jobs that are being added benefit more educated and highly-skilled Americans with positions in the health care, educational services, and goods-producing and manufacturing fields.

By the numbers: Job growth is surpassing expectations and continues to edge above the monthly average over the past year. With 200,000 jobs added in a given month on average, the job market has continued to tighten up the remaining slack, Bankrate.com senior economic analyst Mark Hamrick told Axios.

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Reproduced from Bureau of Labor Statistics; Chart: Axios Visuals
The winners
  • Health care and educational services that require highly-skilled workers for emergency care, physicians, dentists and nurses added about 54,000 jobs in the month of June. Health care generally added 309,000 jobs in the last year. Technology is improving, but it's an industry that still needs bodies.
  • Goods-producing and manufacturing has continued to show promise with the industries adding 53,000 and 36,000 new jobs in June, respectively, compared to 35,000 and 36,000 last year. From the beginning of his campaign, President Trump promised to create more jobs in the U.S., but it's worth noting the sector will never be what it once was decades ago thanks to continued automation and outsourcing.
  • Leisure and hospitality added 25,000 new jobs as Americans mobilized for vacations and other travel purposes at the start of the summer.
The losers
  • Retail continues to dip with a loss of about 22,000 jobs. But, the National Retail Federation is set to argue that the classification from the Labor Department does not include wholesale trade, transportation of retail goods and warehousing, which are separate from the sales floor of a store.
  • Young people are not working at the same rate they have in years past, per a study from Pew Research Center. It notes that there are "fewer low-skill, entry-level jobs (such as sales clerks or office assistants) than in decades past."
  • Truck driving, construction, sales, carpentry, painting, and electrical work are other industry sub-sections that experienced job dips last month.

The bottom line: People are both working and looking for work. The labor force participation rate is about 63%, which could be sustained for the long-term. But underemployment continues to be a reality.

The big question: Will the Trump administration's tariffs shake up business’ abilities to hire?

  • In the long-run, yes, Hamrick said. Businesses are taking precautionary measures that may weigh on the job market and dampen hiring plans unless the trade disputes are resolved in a positive way.

Go deeper:

Go deeper

Growing divide between the two Americas

Illustration: Aïda Amer/Axios

Life in the U.S. is increasingly divided into two realities — one in which things have almost never been better and another in which it's hard to imagine them being worse.

Driving the news: Bankruptcies led more companies to announce job cuts last year than at any time in more than a decade, WSJ's Aisha Al-Muslim reports (subscription), citing data from outplacement firm Challenger, Gray and Christmas.

Go deeperArrowJan 3, 2020

An unsettling future for millions of American jobs

Illustration: Aïda Amer/Axios

The U.S. economy is besting expectations for job growth, and the unemployment rate is at its lowest in several decades — but the other side of the story is that millions of jobs out there just aren't good enough.

Why it matters: Almost half of all American workers are stuck in low-wage jobs that often don't pay enough to support their lives, lack benefits and sit squarely inside the automation bullseye.

Unemployment fell to 50-year low in 2019 but wages stagnated

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

Friday's jobs report missed expectations, but still delivered solid numbers, showing the U.S. economy added well over 100,000 jobs and the unemployment rate remained near a 50-year low.

The big picture: BLS reported that the number of people who were employed part time but would rather be full-time employees declined by 507,000 over the year.