More Confidence in the Jobs Market

The Bureau of Labor Statistics generates data on job openings, hires, and separations. It is a survey referred to as the Job Openings and Labor Turnover Survey (JOLTS). It recently showed that the pace of “quitting” is now over 2.0%. This is an indication that employees feel comfortable with the economy and their job prospects to quit and pursue new employment.

It also indicated that more highly paid employees are separating from their employment than is normally the case as well.

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Employment Index Number Is Good From The Conference Board

The Conference Board is an independent, non-partisan, and non-profit organization that provides business insight. As a part of its services, it tracks employment trends by combining information from a variety of sources into one index – The Employment Trends Index.

This index is currently at 132.64 which by itself does not mean that much until you compare it to the Index reading of the same time last year. The Index has improved 4.1% over the course of the last twelve months.

“The Employment Trends Index has been expanding rapidly in 2017, suggesting that robust job growth will continue into the summer,” said Gad Levanon, Chief Economist, North America, at The Conference Board. “A tight labor market is about to get much tighter, with solid employment growth occurring at a time when there is almost no growth in the working-age population.”

Pulled all together, this is good news for the general jobs market for those looking for jobs.

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Economy Adds 211,000 Jobs in April – Unemployment Rate Down

According to the Bureau of Labor Statistics, the economy added 211,000 jobs in April. The unemployment rate dipped to a 10-year low of 4.4%.

These statistics are good news and evidence of a growing jobs market. Since January 1, 2017 the economy has added 744,000 jobs. The growing challenge in the jobs market now lies in the skills-gap. Some employers are facing challenges of identifying, recruiting, and hiring employees that have the prerequisite skills to fill open positions.

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Unemployment Rates Down in Vast of Majority of Metropolitan Areas

According to a report released today by the U.S. Bureau of Labor Statistics, unemployment rates were lower in March, 2017 than a year earlier in 336 of the 388 metropolitan areas, higher in 38 areas, and unchanged in 14 areas. There were twenty-three areas that had jobless rates of less than 3.0 percent.

This report is additional information that the jobs market continues to improve for most of the larger metropolitan areas across the U.S.

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