Total nonfarm payroll employment increased by 143,000 jobs and the unemployment rate decreased slightly from 4.1% in January. Gains occurred in healthcare, retail trade, and social assistance, while jobs declined in the mining, quarrying, and oil and gas extraction industry. At 62%, the labor force participation rate remains virtually unchanged. Average earnings for all employees on private nonfarm payrolls rose by 17 cents (0.5%) to $35.87, and the average work week edged down by 0.1 hour to 34.1 hours.
According to the American Staffing Association, temporary help employment was 1.59% of total nonfarm employment in January.
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| - Healthcare and Social Assistance: +66,000
- Retail Trade: +34,300
- Government: +32,000
- Construction: +4,000
- Manufacturing: +3,000
- Transportation and Warehousing: +1,100
- Leisure and Hospitality: -3,000
- Professional and Business Services: -11,000
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3 Ways Leaders Can Transform Workplace Challenges into Opportunities
FastCompany – Feb. 2, 2025
Today’s social and workplace challenges require a new leadership approach. By building trust through transparency and curiosity, investing in connection and community care, and prioritizing the human experience, leaders can create opportunities from challenges. Read more at FastCompany.com.
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The Pipeline of Young Talent Is Drying Up. Here’s How Employers Can Prepare
Inc. – Feb. 5, 2025
This year’s graduating high school class is the last before the declining birthrate begins to affect the labor force. As fewer college graduates enter the workforce, skills-based hiring, more seasoned talent, and providing training opportunities can counteract the projected labor shortage. Read more at Inc.com.
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Employers Added Fewer Jobs Than Expected in January
Investopedia – Feb. 7, 2025
Low hiring and low firing were job market trends in January. One-time factors such as natural disasters may have contributed to the slow growth. Despite anticipation of the Federal Reserve cutting interest rates sometime this year, the slowdown wasn’t severe enough to influence quicker rate cuts. Read more at Investopedia.com.
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US Job Seekers Embrace Career Mobility: 56% Want New Industries, 52% Seek New Functions
ExpressPros.com – Jan. 22, 2025
More than half of U.S. job seekers are eager to switch industries (56%) or functions (52%), highlighting a significant trend in career mobility. This openness is further supported by the fact that 58% of job seekers have switched careers at least once, and 76% believe it is never too late. Only 14% have never switched careers and do not plan to. This is according to a recent Express Employment Professionals-Harris Poll survey.
Generational trends reveal that Gen Z and millennial job seekers are more inclined to switch functions (66% and 58%) than Gen X and boomers (39% and 37%). However, older generations have changed careers more frequently, with 39% of Gen X and 44% of boomers having done so multiple times. Read more at ExpressPros.com.
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2025 US Job Market Perceptions Split: Survey Reveals Mixed Sentiments on Opportunities and Job Search Ease
ExpressPros.com – Jan. 8, 2025
Is the job market heating up or cooling down? U.S. job seekers are split in the new year, with a third believing there are fewer job opportunities in their desired fields compared to a year ago (33%), while 38% feel the number of opportunities remains the same, and 29% see an increase. This is according to a recent Express Employment Professionals-Harris Poll survey.
Job seekers are also divided on how easy it will be to find a new job in the next six months. Slightly more than half (51%) are optimistic about their prospects, feeling it will be easy to secure a job, while 49% anticipate difficulties. These sentiments mirror those from the spring 2024 wave, indicating a consistent split in job market perceptions. Read more at ExpressPros.com.
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