Economic Perspective: Where Are the Jobs?

MIKE WALDEN:

“Today’s program asks, ‘Where are the jobs?’ People hear that companies are hiring, and that the job market is hot, but those seeking jobs always want to know specifics. So then what parts of the economy is hiring the best?”

“Well we have some data that shows hiring in the country, and the first thing that the data show is that hiring in all of major economic sectors has been strengthening. So really if you look anywhere you’re going to find that there are jobs available, but if we look at the top-five sectors they really stand out.”

“The biggest relative hiring, which means hiring compared to positions open, is in the transportation sector. If you want to drive big trucks right now you really have your picking. Next is the information sector. Of course this makes sense, that’s technology. Third is retail trade, followed by hospitality and then rounding out the top-five is hiring in professional occupations.”

“The big implication here is if you don’t have a college degree, which years ago you used to have to get in order to get a good job, there are lots of job openings for you.”

Walden is a William Neal Reynolds Distinguished Professor and Extension Economist in the Department of Agricultural and Resource Economics at North Carolina State University who teaches and writes on personal finance, economic outlook and personal finance.