The U.S. economy is improving, and the employment outlook is better than it’s been since the start of The Great Recession in 2008. Despite stagnant wages, the number of unemployed Americans is falling gradually, and workforce participation is holding steady at the 35-year low set in December, 2013. Jobs in the healthcare, transportation, and sales and management sectors lead the way, with the steadiest hiring occurring in the Midwest.
The June, 2014 report from the U.S Department of Labor set the stage for an optimistic employment outlook for the rest of the year. According to the DOL figures, non-farm jobs increased by 288,000 in May, and the unemployment rate continued its decline, falling from 6.3 percent in May to 6.1 percent in June. Further, the number of people who want to work but have either stopped looking for a job or are working part-time because they can’t find full-time employment dropped to 12.1 percent, the lowest level since October 2008. The number of long-term unemployed Americans also fell. Of the 9.5 million Americans currently without a job, 32.8 percent have been jobless for greater than 27 weeks, down from 34.6 percent in May. The median duration of unemployment also fell to a five-year low of 13.1 weeks. "It's a strongreport, there is no question about it,” said Josh Feinman, chief global economist at Deutsche Asset & Wealth Management in New York. For the first time in six years, the U.S. employmentoutlook is improving at a solid pace.
Plenty of jobs are available in many parts of the United States, according to the second quarter Career Trends Analysis Report from Nexxt. Five of the 10 metropolitan areas with the best employment outlook are in the Midwest. In Des Moines and Sioux City, Iowa, Champaign, Ill., Danville, Ill. and Ann Arbor, Mich., registered nurses and other healthcare workers, truck drivers, sales managers, cashiers and customer service representatives are all in high demand. Average annual salaries range from $36,000 in Danville to $45,000 in Ann Arbor. Further, all five metro areas boast a low cost of living and a low ratio of workers to available jobs. In Danville, for example, the cost-of-living is 21 percent below the national average, and the ratio of workers to available jobs is a promising 2 to 1.
Those who prefer coastal living or warmer climates can take comfort in knowing that the rosy employment outlook is not limited to the Midwest. No. 7 on Beyond’s “Where the Jobs Are” list is San Jose Calif., a mecca for workers with information technology or programming expertise. Average salaries are in the $70,000 range, but the higher paycheck comes with a cost of living that is 40 percent above the national average and housing costs that are among the highest in the United States. The picturesque river town of Pittsfield, Mass, was rated No. 1 by Beyond, with plentiful health care, transportation and retail jobs, a low cost of living, and job growth of 226 percent since 2013.
As the United States creeps towards economic recovery, the employment outlook for Americans is improving at a steady pace. Although the U.S. trade deficit continues, jobs in the service, technology and healthcare sectors are available nationwide.
(Photo courtesy of Ambro at FreeDigitalPhotos.net)
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