Each month we examine our job market data and find trends worth sharing.
Here are the latest highlights from September 2018:
Target Holiday Hiring Boost
In September, Target announced plans to hire a record 120,000 seasonal workers in 2018, a 20 percent increase over 2017. In our September data, we saw Target increase its job listings by 7,000 openings (a 21% increase over August). The increased job openings are in large part for Retail Salespeople, Cashiers, and Order Fillers.
While Target was growing their seasonal workforce, other retailers were taking a more conservative approach, as retail hiring overall saw a one percent decline last month.
Job Openings by Sector
In September we saw the biggest gains in the Professional, Scientific, & Technical Services sector, driven in part by increased hiring at consulting and tax firms General Dynamics Information Technology, RSM, and Jackson Hewitt.
Educational Services was weakest, though its drop in listings from August to September was consistent with our data the past five years, indicating a trend of seasonality.
Job duration is the amount of time a listing remains on a company career site. It allows us to make inferences about supply and demand for sectors, companies, or regions. Interestingly, we found Education Services had the longest duration in September, likely related to the seasonality we mentioned above.
What we’re watching
Unemployment is the lowest it’s been in nearly 50 years due to eight years of job gains. While full employment is great news for countless businesses and workers, we are paying attention to how it is impacting the economy as a whole.
Get the data
Download the data behind this monthly job market recap. Each month the excel file includes: job openings by sector, job openings by state, job duration by sector, and our non-farm payroll forecast.