2024 Employment and Workplace Trends

It was a little easier to find a job in November, another sign that the economy is gaining strength. The Bureau of Labor Statistics reports the economy added 227,000 jobs last month as the unemployment rate ticked up to 4.2%.

People looking for jobs in health care and leisure and hospitality were most likely to get hired. Despite heading into the holiday shopping season, it was harder to get a job in the retail sector.

The healthcare sector added 54,000 jobs in November, in line with the average monthly gain of 59,000 over the prior 12 months. Most of those new jobs were filled in the ambulatory healthcare sector, which grew by 22,000 jobs. Hospitals increased hiring by 19,000 and nursing and residential care facilities added 12,000 jobs

Employment in leisure and hospitality trended up in November by 53,000 jobs, following little change in the prior month. The bulk of those jobs occurred at bars. Leisure and hospitality had added an average of 21,000 jobs per month over the prior 12 months.

Government jobs were also plentiful last month. In November, government employment rose by 33,000 jobs, in line with the average monthly gain over the prior 12 months. Employment increased by 32,000 in transportation equipment manufacturing in November, reflecting the return of workers who were on strike.

Harder to get a job in retail

Retailers normally staff up in November, in anticipation of holiday shopping, but that didn’t happen last month. The retail sector lost 28,000 jobs in November, after showing little net employment change over the prior 12 months. In November, employment declined in general merchandise retailers by 15,000 while electronics and appliance retailers added 4,000 jobs.

Employment showed little or no change over the month in other major industries, including mining, quarrying, and oil and gas extraction; construction; wholesale trade; transportation and warehousing; information; financial activities and professional and business services. 

In November, average hourly earnings for all employees on private nonfarm payrolls rose by 13 cents, or 0.4 percent, to $35.61. Over the past 12 months, average hourly earnings have increased by 4% percent. 

The U.S. economy added just 12,000 jobs in October as hiring was held down by strikes and storm damage in the Southeastern U.S.

The Bureau of Labor Statistics reports the nation’s unemployment rate was unchanged at 4.1% in October, and the number of unemployed people was little changed at 7.0 million. In October 2023, the jobless rate was 3.8%, and the number of unemployed people was 6.4 million. 

Job seekers found the most opportunities if they applied for positions in health care or in government. Health care added 52,000 jobs in October, in line with the average monthly gain of 58,000 over the prior 12 months. Over the month, employment rose in ambulatory health care services and nursing and residential care facilities.

Employment in government continued its upward trend in October, adding 40,000 jobs. That was similar to the average monthly gain of 43,000 over the prior 12 months. 

Most other sectors reduced the number of jobs. Within professional and business services, employment in temporary help services declined by 49,000 in October. Temporary help services employment has decreased by 577,000 since reaching a peak in March 2022.

Manufacturing employment decreased by 46,000 in October, reflecting a decline of 44,000 in transportation equipment manufacturing that was largely due to strike activity.

In October, average hourly earnings for all employees on private nonfarm payrolls rose by 13 cents, or 0.4%, to $35.46. Over the past 12 months, average hourly earnings have increased by 4.0%.