On the surface, June was a bust when it came to new jobs with the economy creating only 18,000 jobs. However, it's not as bad as it seems at first glance.
About.com's Guide to U.S. Economy Kimberly Amadeo explains "Buried among the data is a surprising trend. June's year-over-year employment is actually better than May's. That's right -- total employment in June 2011 is 131.017 million, which is 1 million jobs higher than June 2010." Here's more from Kimberly on the employment numbers and why it's not time to panic - yet.
In addition, there are a few bright spots in the job market and it's a good idea to search for jobs in the sectors which are hiring, if you have the right skill set. The Monster Employment Index for June reports:
- Monster Employment Index U.S. at 146, its highest level since October 2008
- Annual growth rate at 4 percent in June, marking the 17th consecutive month of year-over-year growth
- The top growth industries for jobs were Retail Trade (19% YOY growth), Wholesale Trade (17% YOY growth) and Information (15% YOY growth)
- Top growing occupations were in Installation, Maintenance, and Repair (27% YOY growth), Architecture and Engineering (22% YOY growth) and Computer and Mathematical (15% YOY growth)
On the flip side, it's important to note, as well, where the jobs aren't because the competition is going to be tougher than ever in the industries which lost jobs. Indeed's Industry Employment Trends for June reports the biggest declines in healthcare and retail, with job postings flat in most other industries other than real estate which had a 9% increase.
Regardless of the numbers, it's still a tough job market by anyone's definition and it's important to job search accordingly. Here are tips and advice on how to job search in a tough market.
Image Copyright Michal Rozanski