Written By: Carissa Gurgul
In May 2018, the unemployment rate in the United States reached its lowest point in 18 years at 3.8%. According to Paul Davidson from USA Today, this number is expected to even further decrease to 3% by the end of the year.
Within the SCPa workforce development area, in May, the unemployment rate dropped to one of its lowest recorded at 3.1%. In their most recent job report on June 1, 2018, the Bureau of Labor Statistics released that a total of 772,000 previously unemployed people within the United States now have jobs. At the same time, there has been a national increase of jobs on the market, with an increase of 223,000 nonfarm jobs in the month of May alone. Within the past year, there have been an added 286,000 jobs in construction, 259,000 in manufacturing, 206,000 in professional and technical services, 156,000 in transportation and warehousing, 125,000 in retail trade, plus many more.
With unemployment rates dropping to record lows, combined with extensive additions in jobs on the market, it is the perfect time to begin your job search! With a large sum of the added national jobs requiring some sort of training or education, be sure to take advantage of all of the opportunities we have to offer, including qualification trainings, educational assistance, and much more!
The graphs below denote unemployment and job market statistics in the United States, the first dating back seven years and the second conveying the past two years of information.
Davidson, Paul. “The Economy Is Humming. So Why Do Experts Foresee a Recession in 2020?” Home – CBS News 8 – San Diego, CA News Station – KFMB Channel 8, 11 June 2018, www.cbs8.com/story/38392113/the-economy-is-humming-so-why-do-experts-foresee-a-recession-in-2020.
Liu, Jessie. “What Does the Lowest Unemployment Rate in 7 Years Mean for Your Job Search?” TheJobNetwork, 27 June 2017, www.thejobnetwork.com/what-does-the-lowest-unemployment-rate-in-7-years-mean-for-your-job-search/.
“THE EMPLOYMENT SITUATION – MAY 2018.” U.S. Bureau of Labor Statistics, U.S. Bureau of Labor Statistics, 1 June 2018, www.bls.gov/news.release/pdf/empsit.pdf.