Hottest Fields Hiring Non-College GradsAccording to a recent report by Express Employment Professionals, the Industrial sector is the hottest field hiring non-college graduates, with 90% of respondents. Office Services comes in second with 84%, followed by Sales and Marketing with 62%, Health Care with 42%, and Home Help with 37%. According to Express CEO and Chairman of the Board Bob Funk, “The tough economy means job opportunities for non-college graduates may be limited, but some fields are hotter than others and good jobs can be found there.” The Professional field came in last with 4%, preceded by Information Technology with 23%, Licensed Medical with 11%, and Human Resources with 8%.
Franchising.com – Sept. 4, 2013
Consumer Confidence Up in August
After declining in July 2013, the Conference Board Consumer Confidence Index increased slightly in August 2013. The index, which is based on the monthly Consumer Confidence Survey, rose by 0.5 points to 81.5, showing consumers’ overall assessment of the economic situation improved modestly. According to Lynn Franco, Director of Economic Indicators at the Conference Board, consumers have a more favorable view toward current business, and income expectations are at a two-and-a-half-year high after declining earlier in 2013 due to the payroll tax hike. Another encouraging aspect of the survey is those expecting business conditions to improve over the next six months increased from 19.9% to 20.1%, as those expecting conditions to worsen declined from 11.3% to 11.1%.
The Conference Board – Aug. 27, 2013
Amid Job Gains, Labor Participation Rate Falls
Although the U.S. added 169,000 jobs in August 2013, the gains in June and July were revised downwards of 74,000 jobs, which show an adjusted job gain of only 95,000. With the unemployment rate remaining steady at 7.3%, the labor force participation rate (LFPR) edged down to 63.2% - its lowest in 35 years. The LFPR shows the percentage of working-age Americans currently employed or actively looking for work. This shows that even though the unemployment rate has steadily fallen since its high of 10% in October 2009, the amount of workers dropping out of the labor force and giving up on the job search has increased since 2007. According to “Time,” the overall share of the U.S. population employed remains near 59%.
Time – Sept. 6, 2013
Small-Business Hiring Plans Highest Since 2007
Although small-businesses have reported sales down in August 2013 and have cut employees for the fourth straight month, plans to hire workers over the next three months grew by 7%. According to the report by the National Federation of Independent Business (NFIB), 16% of business owners surveyed expected expanding employment, which is the highest growth projection since before the Great Recession began in 2007. The percentage of owners anticipating an increase in sales is also up from 7% in July 2013 to 15% in August 2013 – also the best level in more than five years. As written in the report, “Hopefully, the September survey will validate the August reading and reports of actual hiring will turn positive.”
Los Angeles Times – Sept. 10, 2013
Retail Sales Lackluster in August
Compared to last year’s back-to-school season, August 2013 showed modest retail sales. Of the nine retailers tracked by Thomas Reuters, reports showed a 2.9% growth in August 2013 same-store sales. This was lower than the 3.2% growth expected and the 6.5% growth in August 2012. Back-to-school sales in August are usually an indicator for apparel retail sales during the holiday months of November and December. Despite slow apparel retail sales, auto, furniture, appliance, and building supply sales reported strong data, showing consumers are more willing to pay for big-ticket items as opposed to apparel merchandise.
Wall Street Journal – Sept. 5, 2013
The U.S. economy added 169,000 jobs in August as the unemployment rate edged down to 7.3%. During the past 12 months, the private sector has added an average of 184,000 jobs per month. The Retail Trade industry saw the largest growth in employment in July, adding 46,800 positions. Learn more from the recent employment report from the Bureau of Labor Statistics and view the unemployment rate in your state.
Major Industry Employment:
- Construction: 0
- Manufacturing: + 14,000
- Retail Trade: + 44,000
- Professional & Business Services: + 23,000
- Education & Health Services: + 43,000
- Information: - 18,000
- Transportation: + 12,000
- Government: + 17,000
Employment Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2013.