Job hunters are under a bit more stress this year but a new report shows very positive trends. Find out which industries are hiring and why you should go to them fast.
Many job seekers this 2013 are feeling more pressured than usual to land a job as quickly as possible as unemployment continues to hound the country. However, the data from December 2012 regarding the current state of the job market has arrived and it proves to be bringing good news for individuals looking for work this year.
Amidst fears of a rumored fiscal cliff secondary to the budget impasse in Washington, the US job market held its ground for the last month of last year to prevent the economy from plunging closer towards the dreaded fiscal cliff that will have tremendous repercussions such as mega increases in taxes and huge cuts in spending.
The numbers from December 2012 are not spectacular but they were on par with the number of jobs added by employers in the last couple of years. The registered number of new jobs is at 155,000 last month. It is a solid figure though far from the amount needed to fill in all the gaps in the unemployment statistics which is still at a high 7.8% from the previous month’s tally at 7.7%.
The good thing is despite fears of a fiscal cliff, employers are hiring — and for individuals trying to land a job and get back into the work force, this is indeed very welcome news. The stable pace of the job hiring from the employers is a positive sign and one that will hopefully carry on into the next few months of the New Year.
According to the experts, employers are keen on hiring despite talks of fiscal cliff fears as they are anticipating higher customer demand. Senior economist Robert Kavcic for BMO Capital Markets says, “What would hiring have been if we had not been facing the fiscal cliff in December? We might have seen quite a bit stronger job growth.”
How much growth is involved here? Around 200,000 jobs. But there is one more thing to watch out for coming this month and that is the vote by the Congress regarding the $16.4 trillion borrowing limit of the country. What is at risk here is the possibility that the government will default on its debts.
According to the statistics that came in last month, the growth posted in December of 2012 came from the construction and manufacturing industry. For job seekers this 2013, there is a chance these two industries will open the doors to that elusive employment. In fact, construction jobs have risen to outperform its hiring in the past year and a quarter, registering 30,000 new jobs. The same goes for manufacturing which poured in 25,000 jobs, again a record in the past nine months.
This report is definitely hopeful as it reflects more work hours for people at 34.5 hours a week plus a pay that outgrows inflation with the hourly rate increasing to $23.73 which is at 2.1% against inflation’s 1.8%.