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- 227,000 new jobs are back
227,000 new jobs are back
Plus: the newest news + the labor shortage
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The Rebounding Job Market Explained
What’s Next for Workers in 2025
Boom or Bust?
What are your thoughts on the job market at the moment? 🤔
Some people are saying that hiring is really taking off. For others, it seems like hiring has come to a standstill. What's the real story here? It's not as simple as just calling it "good" or "bad."
If we take a look at the numbers, we see that the US job market added 227,000 jobs in November, bouncing back from a slow October that was affected by strikes and hurricanes. That seems like a pretty good number, right? Well, yes. Buuuut that’s not the full story.
The following are our honest suggestions, no affiliate links or kickbacks apply.
The unemployment rate saw a slight increase to 4.2%, while wage growth remained at 4% over the past year. While these numbers seem to show stability, economists are warning that a lot of the new jobs in November came from just a few sectors, such as healthcare, hospitality, and government. On the flip side, other areas like retail actually lost jobs.
So, what does this mean for you, especially with 2025 just around the corner?
It’s clear the market is resilient, but it’s also selective. There are jobs out there, but employers are being strategic about what areas they're hiring for. They're focusing on industries that are poised for growth. For job seekers, it's a chance to adapt and succeed, but only if you're informed and intentional (An easy task with RoadMap by your side).
Hot Off the Press!
But didn’t women close the gap?
Tim Smart
The U.S. is facing a growing labor shortage, and it’s not just a post-pandemic blip – it’s a demographic reality. Despite a modest uptick in the labor force, industries like healthcare, construction, and trucking are bracing for severe worker shortages in the next decade.
Contributing factors include an aging workforce and declining birth rates, which are reducing the number of available workers. Addressing this challenge will require creative solutions, such as targeted upskilling programs, automation, and initiatives to encourage broader workforce participation. These strategies are essential to keeping the economy running smoothly.
RoadMap Finds
Navigate the job market.
The labor market is moving so fast that as soon as you hear about a trend, there are already hundreds of predictions about what’s going next, and many times they contradict each other! The Macro Musings Podcast, hosted by David Beckworth, collects all the relevant economic and global market news and delivers them to your favorite music app (Youtube, Apple Music, and Spotify) in a 60-minute episode package.
Why It Matters
It's always good to understand the dynamics of employment, monetary policy, and economic stability. They affect us all directly, whether you're looking for a job or in a stable position. The market is a vast sea, and we all navigate it according to the tides.
We suggest you start with the episode "Ernie Tedeschi on Full Employment, the US Safe Harbor Premium, and the Current Path of R-Star." To keep with the discussion about the advantages of a strong job market.
– Roadmap