This country has overcome many things in its storied history, and it continues to attempt more, such as win the 2015 Women's World Cup or overcome The Great Recession. The latest hiring summary indicates that, on that latter point, the country has been making great strides in 2015 even despite setbacks.
In fact, through 2015 so far, with the help of a robust hiring month in May, the economy has added over 1 million jobs. Last month, the U.S. gained 280,000 jobs in a powerful performance sure to quell worries that another harsh winter could set back the hiring situation in the country. The economy contracted through the first few months of this year, which fueled concerns that 2015 may not turn out ideal regarding job gains. While wage growth remains slow, hiring numbers through May certainly show that employers have open positions to fill.
"Through 2015, the economy has added over 1 million jobs."
Despite a rough start to 2015, signs point toward growth
"This is the best combination of numbers we have seen in many months," said Tara Sinclair, an associate professor of economics at George Washington University and economist for a career-building company, told The New York Times. "Wages are ticking up and attracting people back into the labor force; we are still seeing strong employment growth."
The unemployment rate did move up ever-so-slightly, but that was more due to the fact that there was an increase in people searching for employment, rather than a lack of interest from both job candidates and employers. In addition to the over 1 million jobs gained through 2015, the economy has added more than 3 million in the past 12 months, despite some bumps in the road. Also, despite the sluggish wage growth month-to-month, average salaries are up 2.3 percent over May 2014. Rising pay could be one reason that more people are deciding to enter the workforce.
Other indicators that the employment situation is strong in the U.S.
Another sign that employment is growing is the Federal Labor Market Conditions Index. Released monthly, the LMCI draws from 19 labor market indicators to determine the state of hiring in the U.S. An index of over 0.0 indicates that employment is on the rise, and in May, the LMCI was 1.3. While this wasn't the highest LMCI recorded in the last several months – 2014 ended with two months in a row over 7.0 – it was still a sign of growth, a positive after a difficult winter proved an obstacle to growth in the early months of 2015.
Finance employers also experienced substantial growth in May as that particular sector of the economy continued its trend upward, according to the Bureau of Labor Statistics latest Employment Situation Summary. The financial activities portion of the job market added 13,000 jobs in May, to add to the over 160,000 gained through the past 12 months. This is a good sign for anyone in search of top finance jobs, and those people should take a look at OneWire to see what is available right now. After a slow winter, it seems hiring is revving up again, a great sign for job seekers.