As you may already know, the unemployment rate jumped to 6.1% last month. Making it the highest unemployment rate since September 2003 and we continued to shed 84,000 more jobs.
Looking back, payrolls are down by 605,000 since November 2007. We have experienced the eighth month in row of consecutive declines. Since March of 2007, over 2 million people have become jobless.
In addition, the unemployment rate increased among new college grads. Their jobless rate rose from 2.4% to 2.7% last month. It�??s the highest college unemployment rate since August 2004.
I also pay close attention to the underemployment rate, which is now 10.7%. Underemployment includes part-timers who would prefer full-time jobs. There are 5.7 million workers in this category.
Overall, despite the negative trending numbers and the struggling economy, there are pockets of industries reflecting a strong need for talent and continue to show signs of growth. So who�??s hiring?
According to the DOL, the healthcare industry tops the list by adding over 254,000 jobs so far this year. At a close second is the education industry which added over 126,400 jobs during the first eight months of the year. Among the currently growing industries are the hospitality industry adding over 57,000 jobs, the mining/oil industry added 48,600 jobs and the federal government which added 46,000 jobs so far this year.
