Employment Outlook – Job Growth and Labor Statistics July 2011

Employment Outlook – Job Growth and Labor Statistics July 2011

The Bureau of Labor Statistics just released their latest findings on job openings and labor turnover. Here are some of the highlights (for the complete report visit The Bureau of Labor Statistics website):

Overall, the country is seeing job growth:

  • There were 3 million job openings in May 2011 (up 862,000 from a year earlier).
  • However, this is still below the 4.4 million job openings in December, 2007 (when the recession officially started).
  • Also, the only decline in job growth was seen in the Western United States.

The private sector is leading the charge in job growth over the last 12 months with increased job openings in the following sectors:

  • Durable goods manufacturing
  • Transportation
  • Warehousing
  • Utilities
  • Information
  • Healthcare
  • Social Assistance

Not surprisingly, increased job openings are leading to increased hiring:

  • In May 2011, there were 4.1 million new hires (up from 3.6 million the previous year).
  • However, this is still below the 5 million new hires in December 2007.

Summary

Overall, we have seen slow but steady job growth from the beginning of 2010. While we still have a great deal of ground to recover to regain pre-recession levels, the trends are encouraging.

So, what have you seen in your organization?

Are you beginning to see increased need for staff, increased demand, job growth? Leave a comment below and let us know!

 

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