Stock market, job market…all these markets to watch, but we don’t see any snacks! 🍩 No, the hot financial advisor you met in line at Starbucks doesn’t count. 😅
Americans are right smack in the middle of some major policy shifts and we’re waiting to see what kind of impact they’ll have. 🤔 On the job market front, some warning bells are sounding, but should we be worried (yet)?
Here’s Five Fast Facts about our current job market:
- 🔢 Numbers Game - According to the March jobs report, the US economy added 228,000 jobs in March. That’s up quite a bit from February’s total of 117,000. Why the gain? Analysts say it could be our rebound from bad weather and natural disasters like wildfires that ripped through January and February. However, March’s unemployment rate jumped from 4.1% to 4.2%.
- 🦺 Up In the Air - Although reporting shows a 51-month hot streak of adding jobs, it’s uncertain that will continue. Trump administration policies like tariffs, deportations, and DOGE layoffs could shake things up. Elon Musk's team cut a whopping 216,000 federal jobs in March alone. Right now, everyone’s in wait-and-see mode.
- 💸 Paycheck Heck - Labor force participation rose a little bit to 62.5%, but hourly wage growth slowed down. While temporary layoffs died down, we saw an increase in permanent job losses. Jobs in the private sector seem to be humming along, but pay growth there slowed as well.
- 💼 Silver Linings Playbook - If you’re currently in the thick of your job search, don’t let this data get you down. Sectors like healthcare, energy, and tech are growing and will likely continue to do so. If you want to make a career shift into those industries, now might be the time. In states like Ohio, major healthcare networks offer huge incentives for people looking to take up a hospital career.
- 🧑💻 Pass Me the Remote - Another bright spot? Remote work is still very much on the rise. Depending on your skill set, remote jobs can unlock a ton of opportunities across the country without ever having to leave your house. Bonus: landing a remote gig means saving money on a commute and working from your couch in those fuzzy slippers.
🔥Bottom line: Your pops may have worked at the same company his entire life, but that trend is Hillary Duff so yesterday. In this day and age, job loyalty is way down and people hop quite often. However, there *are* perks to staying in your job for the long haul. Check those out here!
How’s your job search going?
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