Service Sector Jobs Are Still On The Rise
Let’s face it: The unemployment picture in the U.S. is not a pretty one, given the June jobs report that showed only about 80,000 net jobs added, enough to keep our unemployment level steady at a worrying 8.2%.
But it’s not entirely gloom and doom. Employment at U.S. service companies, which employ about 90% of the work force, has been expanding for the last 30 months. Though that expansion may not be exactly explosive, it is real. And that means most of us are moving in the right direction.
While it is true that the service sector includes low-paying positions in retail and restaurants, it also has higher-paying jobs in professions such as information technology, accounting and financial services. Indeed, of the 80,000 jobs added in June, 47,000 of them were in business and professional services.
What’s our takeaway from all the numbers? Employment may not be going gangbusters, but there are sectors—notably the service sector—where there is still competition for talented professionals. If you’re in the business of hiring, don’t assume finding the perfect employee will be easy or that you can make her a lowball offer. The economy may be slow, but it’s simply not THAT slow.