Month: July 2019

Top Industries Hiring in 2019

Sure, June’s solid job creation helped ease some concerns of a slowing economy — but it’s always in your best interest to take advantage of the tight labor market while you can.

One method: know where the jobs are.

WHERE THE JOBS ARE

High-earning jobs like registered nurses, accountants and auditors are expected to grow 5.71% through 2023, according to CareerBuilder. In fact, the unemployment rate for accountants and auditors was a low 1.5% in June — helping to illustrate this trend. Low-wage positions are also set to experience sizable growth, while middle-wage roles is a moderate 3.83%

Several key sectors have helped drive the economy in Q1 and Q2, with professional and business services, health care and education and leisure and hospitality leading the way. But other sectors made notable gains in June, according to the U.S. Bureau of Labor Statistics.

2019’S TOP INDUSTRIES

Here are a few of the top industries that are hiring into 2019’S Q3 at a glance:

Top Industries Hiring in 2019

 

 

 

 

 

 

 

 

 

 

 

Source: BLS

PROFESSIONAL & BUSINESS SERVICES: Since January 2019, this industry has added an average of 35,000 jobs per month, which is down from last year’s average monthly gain of 47,000. Still, professional and business services led growth in June with 51,000 added jobs.

Browse Professional and Business Services Jobs »

EDUCATION AND HEALTH SERVICES: This supersector added 35,000 jobs in June 2019 — averaging a total of 403,000 over the past 12 months. BLS notes that the most growth took place in ambulatory health services and hospitals.

Browse Health Services Jobs »

TRANSPORTATION AND WAREHOUSING: According to BLS, this industry added 24,000 jobs last month. Top gains included couriers, messengers and air transportation.

Browse Transportation Jobs »

CONSTRUCTION: Hiring in the construction industry continued to trend up in June, adding 21,000 jobs.

Browse Construction Jobs »

MANUFACTURING: After an overall disappointing early half of 2019, manufacturing employment added 17,000 jobs at the end of Q2. The areas that edged up included computer and electronic products and plastic and rubber products.

Browse Manufacturing Jobs »

Financial Job Outlook

Financial Job Outlook
Everyone I talk with, clients and candidates, are interested to find out the status of the job market. Why not, listening to the news there is no shortage of layoffs. The media and companies have given up the euphemisms such as “right sizing” or “downsizing” and settled on the plain language of “lay offs”. Those in accounting and finance are faring better than most I talk with in other disciplines. Without a doubt it is slower today than even six months ago, the days of landing two job offers in two weeks are gone. Still there exists a fair demand for talented accounting and finance professionals.

Download PDF

Q3 Accounting and Finance Employment Report

May’s lackluster 72,000 added jobs indicated what many had feared — the economic slowdown is here. But if June’s encouraging bounce-back showed anything, we’ve staved off that reality for a bit longer.

The Labor Department reported 224,000 jobs were created last month and helped to close Q2 on a strong note. The unemployment rate’s slight rise from 3.6% early in the quarter to 3.7% is also a positive marker, according to the The New York Times. And actually illustrates the influx of people participating in the U.S. workforce rather than a warning of something more dire. For college-degreed individuals, unemployment remains at 2.1%.

Signs that wage growth is beginning to slow are also apparent. Hourly earnings rose only 3.1% percent within the last year — barely missing market expectations of 3.2%.

accounting and finance employment Q3

Source: BLS

UNEMPLOYMENT RATE DOWN FOR FINANCIAL PROFESSIONS

One thing is evident: the demand for accounting and finance professionals remains in full force. According to The U.S. Bureau of Labor Statistics, unemployment for accountants and auditors dropped from 1.8% to 1.5% at the end of Q2 — falling well below the national unemployment rate and those with a Bachelor’s degree and higher.

Here’s the unemployment breakdown by roles:

  • Accountants and auditors: 1.5%
  • Financial managers: 1.2%
  • Financial analysts: 1.4%
  • Bookkeeping, accounting and auditing clerks: 1.8%
  • Billing and posting clerks: 1.0%

CENTURY GROUP’S FORECAST

For Employers

ITR Economics’ Trends Report foresees an optimistic outlook for the U.S. Private Sector within the next couple of years: employment will rise through at least 2021. Yes, the pace is expected to slow as we head into the last quarter of 2019 and into next year. But companies should resist the impulse to reduce their teams, as today’s tight labor market continues to make it difficult to replace employees.

Bottom line: Employers should continue courting candidates. Focus on offering competitive salaries, remaining engaged throughout the hiring process and presenting job offers quickly.

For Candidates

Now is a great time for job seekers to explore their options. Evaluate your current role — are all your needs being met? Networking with colleagues and other professionals can help introduce you to new positions that are a better fit.

But remember: when considering a new role, it’s important to remain a courteous candidate. Practicing flaky and rude habits like “ghosting” can have long-term effects on your career.

Download your copy of our 2019 Salary Guide for more employment trends and insights.

3 Ways to Accelerate Your Career This Summer

Summer is considered vacation season for most — a time to push pause on your life and reflect. We’re not saying that’s a bad thing. In fact, taking a step back to refocus on your goals is important, and key to personal and professional growth.

Here are three ways to heat up and accelerate your career this summer.

1. Reevaluate, Plan, Go

Taking a much-needed reset increases productivity, and allows you to gain a fresh perspective on your career. Have you accomplished or made headway on any set goals? Does achieving these objectives still make sense? Summer is the perfect halfway point to assess your progress, find the gaps and make adjustments so you can finish the year strong.

2. Grow Your Network

We get it. Stepping out of your social comfort zone doesn’t necessarily sound like lax summer material — but it can be. Seasonal mixers plus a relaxed atmosphere translate to easy networking that doesn’t even feel like, well, networking. A sluggish season is also an opportune time to schedule drinks or informal meetings with professionals who are normally too busy. Pro-tip: be sure to follow up with new connections come September.

3. Slow Means Opportunity

It’s a job seeker’s market, so candidates shouldn’t have too much difficulty finding open career opportunities. Identifying the right one, however, takes a little more finessing. Summer’s slow down gives you the chance to get an edge on competitors who choose to press pause on their search. A smaller candidate pool also encourages employers to be flexible with their requirements and consider professionals that maybe don’t have the exact skill set they’re searching for.

Ready to accelerate your career this summer? Our recruiters can help. Submit your resume or check out our latest jobs in your area.