September 23, 2013 | 5 min read
State of the Job Market: Current Labor Indicators

Tandym Group

The Labor Department’s August jobs report, released in early September, shows that the workforce is continuing to make small gains, marking a slow and steady path to recovery. Unemployment rates were down in many sectors, maintaining the upward trend that signals a healing economy. Here are some key findings from the report:

  • Employment increased by 169,000 jobs in August, and the unemployment rate was calculated at 7.3 percent, down from one year ago, when it totaled 8.1 percent.
  • Good news for millenials! The college-educated unemployment rate reached a record low of 3.5 percent, the lowest rate since November 2008.
  • The contract staffing industry, a growing sector in the workforce, grew by 1.8 percent in the past twelve months, according to the American Staffing Association, with an average of 2.96 million temporary and contract workers working per day in the second quarter of 2013.
  • Health services jobs grew by 33,000 jobs, and employment in professional and business services continued to grow as well, adding 23,000 jobs to the workforce.
  • The accounting and bookkeeping services industry grew by 2,400 thousand jobs, and administrative and support service jobs grew by 14,600 thousand.

As we head into October, and look forward to the release of the September Jobs report, prospects are looking positive for those seeking employment.  For help landing a position, consider jumpstarting your job search. Submit your resume to The Execu|Search Group, today.

Subscribe to the Tandym blog

Get our latest hiring and workplace insights delivered straight to your inbox

Related Resources