The Advisor - September Employment Update
Acara Solutions, An Aleron Company
We bring people together with a purpose.
The American employment landscape is constantly changing. Our team at Acara is here to break down the numbers and explain the latest developments in the job market each month. Keep up-to-date with the most recent trends with our monthly Employment Update.
Total nonfarm payroll employment increased by 254,000 in September, higher than the average monthly gain of 203,000 over the prior 12 months. Job gains were most notable in food services and drinking places, health care, government, social assistance, and construction. The unemployment rate slightly decreased to 4.1%, and average hourly earnings rose by $0.13 to $35.36.
Employment in IT occupation is projected to grow by 12% from 2023 to 2033. This growth rate is much faster than the average for all occupations, reflecting the increasing reliance on technology in various industries and continuous need for skilled IT professionals. Download our IT salary guide to prepare your organization to hire the IT talent it needs.
Phoenix, AZ is at a pivotal point in its economic development, particularly in the advanced manufacturing sector. As the city evolves into a hub for semiconductors, renewable energy, and aerospace industries, it faces several challenges in workforce development.