New Trends in The US Labor Market

The financial crisis of 2008 has significantly affected the economy of the United States, including in the labor market. In recent years, the labor market began to recover, and today it demonstrates good activity. We can see it in the number of job vacancies available in our country. On job sites, such as, you will easily find hundreds of jobs in your area.

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The CNN Money report identifies the major trends that affect the monthly reports on the American unemployment.

Some information from the report.

Today, the number of officially employed people in America has exceeded the history higher number of employed people in the United States.

Despite the fact that during the crisis many jobs has been cut, today they managed to recover. Today, 139 million Americans officially receive wages.

About a third of workers are out-of-staff.

A recent study by the Union of freelancers showed that today in the United States there are about 53 million persons, or 34%, who are not among the personnel of the company, but are independent contractors, temporary workers, or part-time employers.

What interesting from the study is the rise of moonlighters – those who have traditional job as a primary source of income, while doing freelancing with private clients to supplement their income. 14.3 million of the 53 million freelancers are moonlighters.

Experts believe that the number of freelance workers will increase and exceed 40% of all employees in 2020.

5 million of young people from 16 to 24 years old are unemployed and do not attend schools.

In the United States young labor force is often not involved in the workflow. In some areas, youth unemployment reaches 30%. At the same time, the level of unemployment among young African-Americans and Hispanics higher than among whites.

However, the Bureau of Labor Statistics reported that the unemployment rate will gradually decrease.

The salary of women is 82% of the men’s one.

American women, working full-time, earn on average 18% less than men, who hold the same position in 101 of the 112 occupations.

The largest wage gap between men and women is observed in highly paid jobs. Thus, financial managers women earn 30% less, developers – 21% less, CEOs – 20% less.

Baby Boomers retire en masse.

Every day, about 10 thousand workers retire in the United States. Until 2030, about 70 million representatives of the baby boom generation will need social assistance due to reaching retirement age. Experts note, that despite the fact that the government will have to allocate a large amount of budget to finance pensions, by 2020 more than 30 million vacancies may appear in the labor market that will benefit the unemployment activity.


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