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Miami Accounting Company: Unemployment Dropped to 3.9% This Past April

Unemployment Dropped to 3.9% This Past April

That’s right, your Miami accounting company just learned that unemployment fell just below 4% which, according to the Bureau of Labor Statistics, is the lowest it has been since December 2000. Better yet, the U.S. job market for individuals 25 or older with a college degree was even lower, at 2.1% this past month. Turns education does make a difference!

Since January of this year, employers such as the CPAs at your Miami accounting company, provided 800,000 new jobs, with 164,000 in April alone. So far, the U.S. has had 91 consecutive months of job gains, especially in the professional and services industries with 54,000 new jobs in April 2018.

Miami Accounting CompanyManufacturing, Construction and Healthcare

According to the New York Times, just two months before, manufacturing jobs gains totaled over 31,000. Manufacturing employers have expanded payrolls by 245,000 positions over the past year, most of it in durable goods such as automakers and electronics. There’s a healthy competition among trucking companies too. Your Miami accounting company found out some are paying six-figure salaries, plus $20,000 bonuses to attract new drivers.

Construction is another industry that’s exploding, with 61,000 new jobs added in February (off-season), resulting in a four-month gains of 185.000. In Florida alone, there has been an added 1,900 workers in construction in March making it a total of 500,300 workers. According to the Herald Tribune, he Sunshine State’s 12-month gain in construction was 36,500 position or 7.9% making Florida the fourth in the nation for growth in construction jobs.

In April, the education and health services sector provided 31,000 new jobs, with healthcare responsible for 24,000 of those. In fact, your Miami accounting company learned healthcare generated about 305,000 new jobs in the past year alone.

There are different wages per state per occupation of course, but for example nurse practitioners make about $44.73 on average in Alabama. According to the Bureau of Labor Statistics registered nurses make about $27.20. In Florida, in the construction industry, drywall and ceiling tiles installers make on average $17.13. Electricians make $21.28. Painters make $16.22.

6.6 Million Job Openings

6.6 Million Job Openings

In a press release dated May 8th, the BLS reported that on the last business day of March, there was still 6.6 million job openings. The most openings in throughout the entire month were in professional and business services, construction, transportation, warehousing, as well as mostly in the Northeast and Midwest region. Demand for specialized workers continues to exceed demand, so it’s important for employers to offer attractive packages to job seekers.

Growth In Accounting

Growth in Accounting MiamiWhen it comes to accounting, the BLS says employment of accountants and auditors is projected to grow 10% by 2026 which is faster than the average for all occupations. Thanks to globalization of business , companies involved in international trade will have to comply with stricter regulations so professional help will definitely be in demand.

Accountants with master’s degree or professional recognition as a certified public accountant will have the best job prospects. As an accountant you can work in various industries from finance and insurance to enterprises, manufacturing and even government agencies. If you like numbers, are organized, enjoy details and have good time management skills, accounting may be right for you.

For your own accounting needs, call your Miami accounting company Manal and Associates at: 305.868.7620.

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