{"id":1425,"date":"2020-02-05T18:19:50","date_gmt":"2020-02-05T17:19:50","guid":{"rendered":"https:\/\/healthcareers.co\/?p=1425"},"modified":"2020-06-19T22:51:37","modified_gmt":"2020-06-19T21:51:37","slug":"job-growth-by-year","status":"publish","type":"post","link":"https:\/\/healthcareers.co\/job-growth-by-year\/","title":{"rendered":"31 Insightful Statistics and Facts on Job Growth by Year"},"content":{"rendered":"
Every month, the U.S. Bureau of Labor Statistics releases newly updated hiring data and job statistics.\u00a0<\/span><\/p>\n While some statistics show that the unemployment rate has reached 3.5%, others claim that there are more than 145,000 new jobs every month.\u00a0<\/span><\/p>\n To avoid the confusion, and to simplify things, we\u2019ve created this list of statistics about <\/span>job growth by year<\/span>, which will show you the current state of the US economy.<\/span><\/p>\n A stable unemployment rate is one of the Federal Reserve\u2019s main goals, since the US is in the middle of the longest economic recovery in its history. If you want to know which president has created the most job opportunities, whether the wages are increasing, and what the current state of the US economy is, keep scrolling.<\/span><\/p>\n But first, let\u2019s look at some of the most important figures.<\/span><\/p>\n If you\u2019re interested in the current state of the US economy, we have all the information you need.<\/span><\/p>\n (Investopedia)<\/span><\/p>\n Job growth is just one way to test the health of the national economy, and it can be measured by comparing the data that the U.S. Bureau of Labor Statistics gathers on a monthly basis. As a note, \u201ctotal nonfarm payrolls\u201d are used most often to measure <\/span>job growth in the US<\/span>. It tracks the number of people in America who are paid for work that is not in the farming industry.<\/span><\/p>\n (BLS)<\/span><\/p>\n Compared to 2018, when job growth reached 2.7 million, this is a considerable decrease. Nevertheless, in December alone, nonfarm employment rose by 145,000, with the <\/span>healthcare<\/span><\/a> and retail industries adding the greatest number of jobs, according to the U.S. <\/span>Bureau of Labor Statistics job growth chart.<\/span> Meanwhile, the mining industry suffered a loss of jobs.<\/span><\/p>\n (BLS)<\/span><\/p>\n However, the overall number of people who were employed part-time due to <\/span>economic reasons<\/span><\/a> dropped by 507,000 during the year. This refers to employees who prefer full-time employment, but their working hours were cut, or they\u2019ve been unable to find full-time jobs.<\/span><\/p>\n (FiveThirtyEight)<\/span><\/p>\n Furthermore, only 10.5% of the workforce was working part-time. However, while these statistics include people who are not in the workforce but want a job, they also include those who don\u2019t want one, so the numbers should be viewed with a grain of salt.<\/span><\/p>\n (The Balance)<\/span><\/p>\n In December 2019 alone, there were more than 33,900 new job positions in the <\/span>healthcare sector<\/span><\/a>. Furthermore, this industry has been strong even during the recession, as employers have been adjusting to Trump\u2019s changes to the healthcare system.<\/span><\/p>\n (FiveThirtyEight)<\/span><\/p>\n The BLS\u2019s Current Employment Statistics program, which conducts surveys of companies, shows that this data has not changed since 2003 until the previous year. 2019\u2019s average change was slightly different. By August, it showed an average decrease of 11,250 jobs.<\/span><\/p>\n (BLS)<\/span><\/p>\n According to the latest <\/span>US job growth by month graph<\/span>, December was the most successful for the retail industry. There were 33,000 added jobs for the clothes and clothing accessories industry, and building material and garden supply stores opened more than 7,000 new job positions.<\/span><\/p>\n However, when compared to 2018, the employment rates in retail trade have increased only slightly, by 9,000, whereas the net increase throughout 2018 was over 14,000, according to the statistics on <\/span>job growth by year<\/span>.<\/span><\/p>\n (The Balance)<\/span><\/p>\n Even though the real estate industry blossoms in the warmer months, December 2019 has been pretty lucrative for the construction industry. This industry alone contributed more than $1.15 trillion to the national economic output in 2018.<\/span><\/p>\n (BLS)<\/span><\/p>\n As stated by the <\/span>job growth statistics by year<\/span>, these sectors had an <\/span>employment increase<\/span><\/a> of more than 10,000 in December 2019 alone. However, compared to the 561,000 employment increase in 2018, last year\u2019s numbers are pretty low.<\/span><\/p>\n (The Balance)<\/span><\/p>\n Research shows that this industry, and especially its Silicon Valley sector, is crucial for American global competitiveness. In addition to this, statistics on <\/span>job growth by month<\/span> for <\/span>2019<\/span> also show that the temporary help services industry has had low job growth, as well. There were only 6,400 jobs in December 2019.<\/span><\/p>\n Furthermore, government and financial activities had 6,000 new jobs, each. Ever since the Fed began lowering interest rates, banks haven\u2019t been adding many new positions, because lower interest rates bring less profitability to lenders, since they have to charge less for loans.<\/span><\/p>\nThe Top 10 Essential Statistics on <\/b>Job Growth by Year<\/b><\/h2>\n
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Job Growth Statistics<\/b><\/h2>\n
\n1. There should be between 100,000 and 150,000 new jobs every month to diminish the effects of the growing workforce number.<\/b><\/h3>\n
2. Total job growth reached 2.1 million in 2019.<\/b><\/h3>\n
3. The number of part-time employees was 4.1 million in December 2019.<\/b><\/h3>\n
4. The <\/b>annual job growth statistics<\/b> reveal that about 50.4% of the workforce was employed full time in 2019.<\/b><\/h3>\n
5. <\/b>Job growth statistics<\/b> show that the healthcare industry adds an average of 30,000 jobs every month.<\/b><\/h3>\n
6. The average change between the first and final month\u2019s job gains and losses has been an increase of 11,000 jobs, as the <\/b>monthly employment growth statistics<\/b> report.<\/b><\/h3>\n
7. Compared to all other sectors, retail trade experienced the biggest job growth in December 2019, with more than 41,000 added jobs.<\/b><\/h3>\n
8. The construction industry added 20,000 job positions in one month alone.<\/b><\/h3>\n
9. In 2019, the professional and business services industry saw an employment increase of 397,000.<\/b><\/h3>\n
10. The information services industry had the lowest job growth, with only 3,000 new jobs in December 2019.<\/b><\/h3>\n
Job Loss and <\/b>Unemployment Rate Statistics<\/b><\/h2>\n
\n11. With just 3.5%, December 2019 had the lowest unemployment rate since 1969.<\/b><\/h3>\n