{"id":18972,"date":"2023-06-30T12:56:39","date_gmt":"2023-06-30T19:56:39","guid":{"rendered":"https:\/\/essential.construction\/news\/where-are-the-jobs-that-are-driving-the-u-s-unemployment-rate-so-low\/"},"modified":"2023-06-30T12:56:40","modified_gmt":"2023-06-30T19:56:40","slug":"where-are-the-jobs-that-are-driving-the-u-s-unemployment-rate-so-low","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/where-are-the-jobs-that-are-driving-the-u-s-unemployment-rate-so-low\/","title":{"rendered":"Where are the Jobs that are Driving the U.S. Unemployment Rate So Low?"},"content":{"rendered":"<p> <a href=\"https:\/\/essential.construction\/files\/membership-default-internal\/\" class=\"memberhide\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/01\/20220718_175041000_iOS.jpg\" alt=\"-\"><\/a><br\/><br \/>\n<\/p>\n<div>\n<p>So far, minimally deterred by the Federal Reserve\u2019s interest rate hikes, the unemployment rate in the U.S. has stayed near rock bottom. Seasonally adjusted (SA), it\u2019s been less than 4.0% for 15 months in a row, indicative of a labor market that\u2019s about as tight as it has ever been.<\/p>\n<p>In the 15 graphics that follow, the historical figures on employment are presented in charts and analyzed in accompanying text boxes for 30 key sectors in the economy.<\/p>\n<p>There are many instances of astonishing growth in the number of jobs. There are also cases where employment has languished and can draw on few reserves of adrenaline.<\/p>\n<p>In many of the graphs, deep crevices appear in the number of jobs at the outset of the coronavirus pandemic. What\u2019s interesting is the degree to which recovery has occurred.<\/p>\n<p>In graphs for other sectors, coronavirus effects washed over them with little or no impact.<\/p>\n<p>A key point moving forward is to realize that there will be job opportunities in areas requiring skill sets barely imagined, outside of science fiction, not so long ago.<\/p>\n<p>The construction industry, which has been listing a shortage of qualified workers as perhaps its biggest problem, especially with experienced trades people retiring in droves, will be hard pressed to fill gaps from the young adult workforce pool.<\/p>\n<p>It\u2019s not really fresh news, but creative recruitment thinking must become a priority.<\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 1<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317951\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-1-1024x701.png\" alt=\"-\" width=\"1024\" height=\"701\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 2<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317952\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-2-1024x692.png\" alt=\"-\" width=\"1024\" height=\"692\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 3<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317953\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-3-1024x690.png\" alt=\"-\" width=\"1024\" height=\"690\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 4<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317956\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-4-1024x678.png\" alt=\"-\" width=\"1024\" height=\"678\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 5<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317957\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-5-1024x680.png\" alt=\"-\" width=\"1024\" height=\"680\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 6<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317958\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-6-1024x679.png\" alt=\"-\" width=\"1024\" height=\"679\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 7<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317959\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-7-1024x681.png\" alt=\"-\" width=\"1024\" height=\"681\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 8<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317960\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-8-1024x698.png\" alt=\"-\" width=\"1024\" height=\"698\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 9<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317961\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-9-1024x681.png\" alt=\"-\" width=\"1024\" height=\"681\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 10<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317963\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-10-1024x688.png\" alt=\"-\" width=\"1024\" height=\"688\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 11<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317964\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-11-1024x677.png\" alt=\"-\" width=\"1024\" height=\"677\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 12<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317965\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-12-1024x679.png\" alt=\"-\" width=\"1024\" height=\"679\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 13<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317966\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-13-1024x673.png\" alt=\"-\" width=\"1024\" height=\"673\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 14<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317967\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-14-1024x693.png\" alt=\"-\" width=\"1024\" height=\"693\"><\/p>\n<p>\u00a0<\/p>\n<h4><u>Graph 15<\/u><\/h4>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-large wp-image-317968\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/06\/Z-U.S.-Sub-Sectors-May-23-15-1024x680.png\" alt=\"-\" width=\"1024\" height=\"680\"><\/p>\n<p>\u00a0<\/p>\n<hr\/>\n<p>Alex Carrick is Chief Economist for ConstructConnect. He has delivered presentations throughout North America on the U.S., Canadian and world construction outlooks. Mr. Carrick has been with the company since 1985. Links to his numerous articles are featured on Twitter\u00a0<a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/ConstructConnx\" target=\"_blank\">@ConstructConnx<\/a>, which has 50,000 followers.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5143531171910809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- News - Bottom -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-5143531171910809\"\r\n     data-ad-slot=\"8320848692\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/canada.constructconnect.com\/dcn\/news\/economic\/2023\/06\/where-are-the-jobs-that-are-driving-the-u-s-unemployment-rate-so-low\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>So far, minimally deterred by the Federal Reserve\u2019s interest rate hikes, the unemployment rate in the U.S. has stayed near &#8230; <a title=\"Where are the Jobs that are Driving the U.S. Unemployment Rate So Low?\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/where-are-the-jobs-that-are-driving-the-u-s-unemployment-rate-so-low\/\" aria-label=\"Read more about Where are the Jobs that are Driving the U.S. Unemployment Rate So Low?\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":18973,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1037],"tags":[357,295],"class_list":["post-18972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-commercial-news","tag-blog","tag-technology","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/18972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=18972"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/18972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media\/18973"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=18972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=18972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=18972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}