U.S. Outlook: On the hunt for a better job

Scott Anderson
Posted by Scott Anderson
Chief Economist

It is widely known that the U.S. economy is creating new jobs at a rapid pace. Since the expansion started, the economy has added nearly 20 million jobs.

Business man on Wall St. at top of escalator carrying folded newspapersWhat is less well-known is the improvement we have seen in the quality of the jobs being created.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Sept. 28.

Key observations:
  • With nearly 7 million open positions in the United States — a new national record — it is getting harder and harder for employers to find qualified candidates.
  • As of August, part-time employment in the U.S. had dropped by 616,000 jobs, while full-time jobs were up by 2.7 million.
  • This labor-shortage trend likely extends into the gig economy as well.
  • Our forecast for the September payroll report is for another increase of 180K nonfarm jobs, with the U.S. unemployment rate moving back down to 3.8%.

Read my full report.

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