Job Growth Statistics By New Jobs, Region, Industry, Occupation And Demographic

Introduction

Job Growth Statistics: The global job market has substantially changed in the last few years due to technological advancements, the changing priorities of economies, and the long-standing effects of the pandemic. It seems that job growth trends in the year 2024 will be a combination of hope and challenge since the industry will be stoked to thrive more in technology, healthcare, and renewable energy.

It will discuss the job growth statistics, trends, and factors that shape the employment landscape in 2024.

Editor’s Choice

• According to job growth statistics, the American economy created a possible 175,000 jobs last month but only added a net new 85,000 jobs because of the population growth requirement of 90,000 jobs per month.
• Thus, the unemployment rate climbed to 3.9% while average weekly earnings were down by 1.1% annually in the month of April, giving a nominal 6% depreciation in real terms.
• Global employment dropped by 3% in 2020 as a result of the COVID-19 epidemic. The global workforce is estimated to recover in 2024, with an increase of only 1.1%.
• Geographic disparities exist with reference to job growth as an 85% increase is attributed to urban centers where economic activities are concentrated, metropolitan areas recorded a 70% increase, suburban areas up by 50%, and rural areas growing at a slower rate of 30%.
• Job growth statistics reveal that the U.S. Economy has thus lost 818,000 jobs from the projection when it revised the employment figures for the period of March 2023 and March 2024.
• The solid annual job growth of 2.08 million jobs over the 12 months remains.
• According to downward revisions affecting the professional services, retail trade, and manufacturing sectors, industries like leisure and hospitality added 300,000 jobs.
• Among the high-growth sectors are wind turbine service technicians (45%), nurse practitioners (45%), data scientists (35%), information security analysts (32%), and medical and health services managers (28%). Other significant projections include epidemiologists (27%), physician assistants (27%), software developers (26%), and solar photovoltaic installers (22%).
• The private education and health services section experienced a growth of 4.2% from December 2022 to December 2023, thus creating 1.05 million new jobs. From this number, healthcare contributed 654000 jobs.
• The government sector grew by 3%, leisure and hospitality by 2.9%, construction by 2.5%, and professional and business services by 0.6%.
• Inside the first quarter of 2024, total hours worked was up 0.7% year-on-year, while employment gained 1.8%.
• Average weekly hours worked per employee dipped by 1%, suggesting firms manage labor costs by cutting hours.
• According to job growth statistics, job growth will slow to 0.5% per year during the last quarter of 2024 because of a deceleration in GDP growth.
• From 2010 to 2022, the employment of women in the U.S. increased by 15.7%, slightly ahead of 14.8%, which was the growth for men.
• Education is not only the best part of getting employment but also enhances job growth, as the increase for those with a bachelor’s degree reaches 18.9%, while the increase for high school diplomas or less is just 9.8%.

Job Growth Statistics By New Jobs

(Source: jabberwocking.com)

• Job growth statistics state that last month, the American economy created 175,000 jobs, but with a requirement of 90,000 new jobs each month just to keep up with growth in the population, it netted only 85,000 jobs. That is not very good news.
• Meanwhile, the headline unemployment rate ticked up to 3.9%. Average weekly earnings fell at an annualized rate of 1.1% in April.
• Accounting for inflation, this translates into a nearly 6% decrease- a significant drop.
• This should lay to rest any concerns the Federal Reserve might now have that the economy is overheating or that wage growth would lead to inflation.

Growth In The Number Of Employees Worldwide

(Reference: statista.com)

• On a worldwide scale, the 2020 decline in employment rate was 3% when compared to the previous year, thus becoming the only one in this period to a decrease in employment numbers.
• The decline was the result of the disruptions caused by the COVID-19 pandemic.
• Job growth statistics indicate that by 2024, however, the global workforce is expected to rebound and grow, with an estimated increase of 1.1%.

Job Growth By Region

(Reference: jobspikr.com)

• Job growth statistics state that Job growth is generally very disparate across regions. The largest increase occurs in cities with an 85% increase, which in part is due to an extreme concentration of economic activity and opportunities.
• The next largest increase is in metropolitan areas, which show a 70% increase because of their proximity to the urban center area.
• The suburbs boast a more moderate growth of 50%, as there is both expanding residential growth and emerging job growth.
• While the urban areas would report 30% growth, this low growth reflects the many challenges limiting the effectiveness of rural economies, such as insufficient infrastructure and fewer economic drivers.

Job Growth By Industry

(Source: statista.com)

• Job growth statistics reveal that the U.S. economy created 818,000 jobs less than what was estimated from March 2023 to March 2024, as said in the provisional annual benchmark revisions to employment figures.
• Annually, the Bureau of Labor Statistics (BLS) relies on bringing March employment estimates up to date with millions of records submitted into state unemployment insurance tax databases, filed by nearly all employers.
• Most of the time, these revisions are very small, averaging about zero point 1% of total non-farm employment in the past decade.
• Nevertheless, this year’s adjustment is the highest ever made for the period, to the tune of a 0.5% figure for a total of 818,000 jobs.
• That doesn’t mean a sudden loss of jobs or an increased unemployment rate, but merely that the initial count of job levels was a bit high.
• Even after revision, however, job growth remains unaffected and strong.
• Job increase in the US was reported to be 2080000 jobs for the 12 months ending March 2024, down from the original estimate of 2900000.
• This now reduces the average monthly job growth during that period from 242000 to 174000 but remains a robust figure.
• According to job growth statistics, four industries account for more than 90% of the downward revision into professional and business services, leisure and hospitality, retail trade, and manufacturing jobs.
• The net effect of this revision, however, is that leisure and hospitality created almost 300000 jobs for the year, while these other three had losses of jobs based on the new estimates.

Projected Job Growth By Occupation

(Reference: skillademia.com)

• Wind turbine service technicians are going to get 45% more than the amount they earn now because of that big shift into renewable energy in the U.S. and the increasing emphasis on sustainable sources of energy.
• With the same growth rate, nurse practitioners play an equally important role in bridging gaps in primary and specialty services in an ever-increasing healthcare industry.
• Data scientists are expected to grow by 35% because the industries heavily prefer their decision-making based on valid data.
• Information security analysts account for a growth projection of 32% since these professionals are very much in demand in the fight against increased sophistication in cyber threats while at the same time making demand for solid measures of security.
• Medical and health services managers are predicted to have a rise in demand of about 28% due to the ever-increasing numbers of healthcare facilities and the need for streamlining healthcare provision.
• Epidemiologists are projected to grow by 27% because they are increasingly being called upon in today’s global health arena due to the onslaughts from international health disasters such as the COVID-19 pandemic, which has highlighted the need for expertise in understanding and controlling disease patterns.
• Also projected with the same increase of 27% are physician assistants, who are playing an important role in widening the accessibility of healthcare services through the provision of access to physicians and the extension of their medical services.
• Even with a consistent 26% growth rate during the last decade, software developers remain hugely in demand as firms continue to digitize and undergo digital transformations.
• Computer and information research scientists are also at the leading growth level, with about a 23% growth rate owing to technological innovation at the frontiers of computing and IT.
• Solar photovoltaic installers will see a sharp rise, projected at 22% because they are more attached to the fast-growing solar branch of the energy sector concerning overall renewable energy take-up around the globe.

Most Promising Job Growth By Industry

(Reference: skillademia.com)

• Employment varies by industry, and the BLS data has furnished in white segments observed most keenly for the increase on the job front from December 2022 to December 2023, and those sectors are noted down in the context of more sectors that will ameliorate in the coming times in 2024.
• Job growth statistics state that the most pronounced growth sector is Private Education and Health Services, at 4.2% or a net change of 1.05 million newly employed among more than 25.87 million.
• Within this sector, healthcare managed to record 3.9% growth in more than 654,000 jobs, comprising more than 17.24 million employed.
• The next category was government, with an increase of 3%, netting 672,000 jobs with more than 23 million workers. The local government sector was seen to have the most increase, with 342,000 new hires, in contrast to state and federal levels.
• The leisure and hospitality grew by 2.9%, a net change of 466,000 jobs, employing more than 16.7 million. Accommodation and food services contributed significantly to this increase, with a 2.5% increase, representing close to 14.3 million employees.
• Construction also experienced significant growth at the rate of 2.5% and added over 197,000 jobs, employing more than 8 million workers.
• Specialty trade contractors experienced an increase of 2%, most covering the nonresidential specialties, totaling more than 2.7 million.
• Professional and business services scaled the lowest among these, with a modest growth of 0.6%, resulting in a net change of 132,000 jobs and a workforce of over 22.9 million.
• Within this industry, however, professional, scientific, and technical services were notable, with a 2.5% growth rate and almost 11 million jobs in their payrolls.

Total Hours Work With Percentage Of Growth Year Over Year

(Source: morningstar.com)

• The total hours worked grew by 0.7% in the first three months of 2024 from the figures of a year earlier.
• While employment increased by 1.8% annually, average weekly hours per employee decreased by 1%. Organizations manage their rising labor costs by reducing employee working hours.
• However, as they are already close to maximum reductions, it may be time for businesses to start decelerating the pace at which they bring on new employees.
• A deeper slice of the organization will be added towards controlling such increases in labor costs because slower growth is projected in the GDP.
• Accordingly, employment growth is expected to decline to an annualized 0.5% for the last quarter of 2024.

Job Growth By Demographic

• Job growth statistics categories shed light on employment trends and labor market dynamics across different population groups, although detailed information on job creation by specific demographics may sometimes be limited.
• Historically, the differences in labor market conditions of men and women have been responsible for different rates of employment growth for men and women. In the new days, the states run an improvement in gender equality.
• For instance, between 2010 and 2022, women’s employment in the U.S. increased by 15.7%, very narrowly surpassing the 14.8% growth in that of men. These numbers might differ according to industry or profession.
• Age-related job growth rates are affected by experience, educational qualifications, and retirement trends.
• Younger people usually enjoy the benefit of employing a faster rate of job growth as they enter the workforce, while older workers may experience slower growth due to the accountability of retirement.
• The bias with race and ethnicity is still obvious in the labor market, given different levels of employment growth across different groups.
• Historically, African Americans and Hispanics have borne the high unemployment rates, and they have indeed also had slow job growth, unlike their counterparts in the White and Asian populations.
• Education is vital in defining job opportunities and employment growth. Between 2010 and 2022, those who had attained at least a bachelor’s degree were shown to have received a job increase of 18.9%, as opposed to the 9.8% increase for those with just a high school diploma or less.
• Such rates can differ greatly among sectors and occupations. It is also known that geographical location has an influence on job growth rates.
• The more an economy is concentrated in urban towns, the greater the job growth relative to rural regions.
• The latter usually harbors more problems that threaten to limit the extent of opportunities available to people while also luring them away through migration to the urban centers.
• The employment status of immigrants, on the other hand, can feature both opportunities and difficulties.
• On the one hand, they contribute highly to further economic development through important sectors missing labor supply; however, language barriers, qualification recognition, and cultural differences impede their employability.

Conclusion

Job growth statistics in 2025 bring a promise of change and hope. Although areas such as renewable energy and AI are at the head of the race, automation and the skill gap must be addressed. Upskills and the importance of adaptability are keys to the future development of a sustainable job market.

Barry Elad

Barry is a technology enthusiast with a passion for in-depth research on various technological topics. He meticulously gathers comprehensive statistics and facts to assist users. Barry's primary interest lies in understanding the intricacies of software and creating content that highlights its value. When not evaluating applications or programs, Barry enjoys experimenting with new healthy recipes, practicing yoga, meditating, or taking nature walks with his child.

More Posts By Barry Elad

Job Growth Statistics By New Jobs, Region, Industry, Occupation And Demographic

Industrial Biotechnology Statistics By Therapeutic Area, Market Capitalization, Employees, Profit Growth And Diversity

Cannabinoid Pharmaceuticals Statistics By Treatment, Clinical Trials, Intervention And Regions

Roche Statistics By Facts, Revenue, Therapy Area, Operating Profit, R&D Expenditure, Net Income, Total Sales And Customer Area

Biofuels Statistics By Market Value, Production, Product Type, Consumption, Regions, Facts Challenges And Forecast

Dietary Sugar Statistics By Production, Age And Facts

AstraZeneca Statistics By Key Facts, Revenue, Region, R&D Expenditure, Therapy Area, Operating profit And Number Of Animals Used

GlaxoSmithKline (GSK) Statistics By Divisions, Revenue, Advertising Spending, Operating Profit, Stock Price, Patents Portfolio And Facts

Facial Recognition Statistics By Revenue, Market Share and Facts

Internet of Things Statistics By Sector, Market Share and Revenue