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!
Manufacturing, 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.
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
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
When 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.