The jobs reports have been exceptional lately.
The labor market today is completely different compared to a year ago... which was already dramatically improved at this point, may I add.
LinkedIN's Workforce Report which tracks trends is showing how much better the opportunities are today and what's happening right now. Here are some of the top takeaways:
- Overall hiring is 19.3% higher year over year
- Hiring trends today are stronger than the 2nd half of 2017 and are still rising
- Hottest sectors for hiring right now are:
- Financial services
- Automotive & Transportation
So, on average your odds of obtaining a job you're interested in are about 20% better today compared to a year ago and that's great news for those looking for career advancement in addition to those simply looking for employment. We can see the impact of the strong stock market and increases in net take home pay wash through into more jobs and that we're likely to continue to see manufacturing prosper.
Something that is a bit worrisome though, in the context of the news of the day. Aerospace, automotive and transportation sectors are all potential losers in the Chinese tariff standoff. Hopefully we don't an escalation of the trade issues and hopefully we continue to see the follow-through with hiring in those sectors in the meantime. Uncertainty could cause some businesses to pause expansion plans.