Another month, another dip in the unemployment rate, which at 5.1% now sits at a seven-year low despite a relatively modest month in hiring, with just 173,000 jobs added. Wage growth remained sluggish, clocking in far below the 3.5% growth rate typical of a strongly rebounding economy.
Analysts are beginning to zero in on the underlying cause of the persistently dismal wage gains which have dogged the recovery: a massive surplus of workers on the sidelines is thought to be depressing wages.
Add in millions of part-time workers looking for full-time work, and it doesn’t look like employers will be under pressure to increase wages anytime soon.
Hiring Forecast Winners – September 2015
One of the perennial growth engines of the economy showed strong demand in August, meaning that the current upswing in Healthcare jobs created shows no sign of letting up.
Top 5 Cities for Healthcare Hiring Demand:
As our data predicted last spring, Retail posted strong demand in August as Americans wrapped up summer vacations and hit back-to-school sales hard.
Top 5 Cities for Retail Hiring:
A recent survey reported that Finance professionals are “exceptionally confident in regards to their personal employment situations,” and according to our data, they’re right to be bullish. Growth trends are, as they say, up and to the right.
Top 5 Cities for Financial Services Hiring:
Business Support Services
Rumors of the death of Admin seem to have been exaggerated, as increased hiring demand has begun to be reflected in actual hiring numbers. Computers and cost-cutting have undoubtedly changed the industry forever, but all things being equal, who couldn’t use an extra pair of helping hands around the office?
Top 5 Cities for Business Support Services Hiring:
The Top Cities for Hiring Demand
1. Dallas, TX
While the rest of Texas buckles under the weight of the collapsing energy sector, Dallas keeps on keepin’ on, buoyed by a diversified economy and a solid housing market. The Fed Beige Book also contains promising news on the manufacturing front, despite the strong dollar.
2. Seattle, WA
The good times continue to roll in Seattle, as the latest tech boom shows no sign of a bust – yet. Though when workers with little more than 3-month computer courses under their belt are pulling down six-figure starting salaries, you’ve got to wonder at what point “froth” becomes “bubble”.
3. Columbus, OH
Quick: which city has the fastest growing hourly wages over the last twelve months? It’s Columbus, which edged out San Francisco for the honor, according to the BLS. The Discovery City’s impressive feat reinforces something we’ve been saying for years – many parts of the Midwest are back.
4. Atlanta, GA
As the largest economy in the nation’s most economically vibrant region, Atlanta’s position as the first city in the South seems more secure than ever. Analysts cite a diverse economy, an active construction industry, and lower living costs as keys to the ATL’s success.
The “Sharing Economy” boom continues San Francisco’s hot streak, despite worries over income inequality, an affordable housing crisis, and a Lloyd’s report which warns that a market crash could erase $10.53 billion dollars of the city’s GDP.
The gig economy is driving much of the economic activity in Philadelphia, where homeowners and landlords are currently working hard to cash in on the Pope’s visit by offering lodging for pilgrims through AirBNB. Exports are another bright spot, which the city is working to boost.
Another city bucking the national trend of slow wage growth, Virginia Beach workers’ paychecks have bulked up 5.9% over the last year, putting them just behind Columbus and San Francisco according to Department of Labor numbers.
Financial giant Barclay’s announcement that it will be bringing 1500 jobs to the Cincy suburbs likely contributed to August’s increased hiring demand, though the central city took a hit with a round of layoffs by CVS-owned Omnicare.
9. Detroit, MI
Increased hiring demand is just one sign the Detroit region’s economy is moving in the right direction, with more good news coming from the housing sector, where home values have grown by 2.1%.
10. San Jose, CA
The Silicon Valley economy is as strong as ever, with tech driving strong hiring demand in the region despite recent market fluctuations.
The ZipRecruiter National Jobs Report measures current and leading edge demand for employees across fourteen key industries by measuring relative month over month percent changes using the following benchmarks:
- Current Active Jobs – Our representative sample of millions of job postings provides an overview of existing demand for new employees (as opposed to hiring numbers), which provides a snapshot of the previous month’s hiring.
- New Jobs – Our representative sample of new job postings in January provides insight into current and upcoming demand, next month’s hiring numbers, and a predictive look at the demand curve for new employees across twenty-one industries.
- Employer Demand by Metro – We have further broken down these numbers to provide insight into current and upcoming demand for new employees across metropolitan areas nationwide.
- Key Indexed Industries are: Accommodation and Food Services, Business Support Services, Construction, Educational Services, Employment Services, Financial Activities, Health Care, Insurance Carriers and Related Activities, Management of Companies and Enterprises, Manufacturing, Motor Vehicle and Parts Dealers, Repair and Maintenance, Retail Trade, Warehousing and Storage.