Workforce dynamics in different industries in the United States
- The current employment landscape in the United States faces growth and decline across different industries.
- American companies and employers added 353,000 new jobs in January, indicating the largest monthly gain in a year.
- The US economy has increased, with 248,000 new jobs per month.
- Furthermore, despite layoffs in certain sectors, the hiring statistics from ADP shows overall stability in economic growth and the job landscape in the US.
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Employment landscape across various industries in the United States
Over the past six months the US economy has seen an average increase of 248,000 new jobs per month. Industries such as manufacturing, hospitality, healthcare, and professional services have contributed significantly to this growth. Notably, high-paying professions like accountants, engineers, and lawyers have seen substantial increases in employment.
In January, 353,000 new jobs were added by American companies and other employers, which is the largest monthly gain in a year. Additionally, job gains were increased by the government by a total of 126,000 in November and December combined.
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Certain industries witness layoffs in United States
Despite overall job gains, certain industries like media, finance, and technology have witnessed layoffs. Few of the well-known companies like Google, Amazon, and Facebook’s Meta are among the corporations that have announced layoffs.
Layoffs happen for various reasons, and some of such stated by companies are to:
- To preserve or increase profit margins
- To adjust business strategies
- Restructuring purposes
- Due to changes in economic conditions
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Job gains across various industries in United States
For the last three months, companies have continued to hire more people in the majority of industries. The details about the industries and the number of jobs added have been given below:
|
Month |
Industry |
Number of jobs added |
|
November, December, and January combined |
Manufacturers |
56,000 |
|
Restaurants, hotels and entertainment companies |
60,000 |
|
|
Health care providers - hospitals, doctors' offices, and dentists |
300,000 |
|
|
October |
Accountants, engineers, lawyers and their support staff |
120,000 |
|
September |
Federal, state and local governments |
120,000 |
Despite the layoffs in certain industries, the hiring data from ADP shows that low unemployment benefit claims and consistent private-sector businesses hiring contribute confirm overall stability in employment landscape across various industries and economic growth in the United States.
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