What’s in an employment report?
Last week, the U.S. Bureau of Labor
Statistics’ Employment Situation Summary was full of encouraging data. Employment
numbers for last November and December were revised higher which made 2014 the
strongest year for job growth since 1999. However, 2015 isn’t off to a shabby
start. The economy added just over a quarter of a million jobs in January. In
addition, Barron’s reported:
“…Wages for private-sector workers ticked
higher in January, rising 0.5 percent from December and 2.2 percent
year-over-year. That sort of growth must persist to indicate a trend, but it is
a promising sign, and one that could quell chatter about deflation in the U.S.
The good news doesn’t end there. Low gas prices could save the average
household $750 this year, and household net worth remains near an all-time
high. It’s no wonder consumer confidence hit its highest level last month in
more than seven years.”
Consumers are happy. Workers are happy. Who’s
not happy? The answer may be companies and investors. Barron’s speculated workers’ gains could come at the expense of
corporate profits.
Last week, Factset.com reported analysts are expecting to see year-over-year
declines in both the overall earnings and revenues of companies in the Standard
& Poor’s 500 Index during the first half of 2015. The downward revisions primarily
reflect the expected performance of companies in the energy sector. While prospects
for the first half of 2015 have dimmed a bit, analysts are expecting profit
margins to expand and companies to have record earnings per share, overall,
during the second half of 2015.
what is the most common job in the united states? In the late ‘70s and early ‘80s, secretary
would have taken top honors in more than one-half of the United States. Machine
operators and factory workers were in demand then, too. However, since then, personal
computers have made secretarial work less prevalent, and technology and globalization
erased many manufacturing positions in the United States.
Since the
mid-80s, truck driving has become the most common occupation in most states,
according to National Public Radio (NPR).
One reason is that, so far, truck driving has been relatively unaffected by
globalization and automation. As NPR
reported, “A worker in China can't drive a truck in Ohio, and machines can't
drive cars (yet).”
If you’re
looking for recession-proof jobs (take that with a grain of salt – the Titanic
was billed as being unsinkable), CareerProfiles.com
reported the following industries are expected to have the greatest job growth
during the next decade:
·
Sales and Finance
(marketing managers and financial managers)
·
Computer software
(systems software engineers)
·
Engineering (chemical,
electrical, mechanical, and civil engineers)
·
Computer systems
(systems analysts)
·
Finance/Accounting
(financial analysts, accountants)
·
Education
(certified teachers, teaching assistants and aides)
The U.S.
government’s predictions for the fastest growing jobs through 2022 are slightly
different. The top occupations on that list include:
·
Industrial-organizational
psychologists
·
Personal
care aides
·
Home health
aides
·
Insulation
workers, mechanical
·
Interpreters
and translators
Other fields
with good prospects include energy and the environment, healthcare, and
security.
Weekly
Focus – Think About It
“The Eskimos
had fifty-two names for snow because it was important to them: there ought to
be as many for love.”
-- Margaret Atwood, Canadian novelist
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