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Signs of job growth in US, Capital Region
ALBANY -- A significant drop, in local jobs ahead of Black Friday. But jobs expert and Answers Team member Dan Moran of Next-Act says we're already seeing signs of a rebound this week.
Meanwhile, good news out of the nation's Capitol; the Labor Department is reporting that the unemployment rate fell to seven percent. That's a five year low.
While that is good news for the nation's economy, is our local economy following suit? Experts believe the overall outlook is positive in the greater Capital Region. Growth in the technology sector is promising and some areas are seeing growth that for so long have been signs of decline.
Moran says this was a very strong hiring report. It shows confidence in the market, and barring anything significant, he believes the first quarter of the new year will be a good one, too. "In the United States and in our region we hit the highest number of jobs available in over 5 years," Moran said.
More people are working, Moran says, and more people are getting paid for the work they do. "Employers are beginning to add to their payrolls cautiously but they are adding so we're seeing some lift," he said.
There are certain fields where you're most likely to find a job, even ones once known to be some of the most available in Upstate New York.
"Here's where the bug surprise is -- they're in transportation and warehousing. Obviously healthcare which we know -- in manufacturing. You don't hear that word "manufacturing" as one of the top job categories. But you did see that in this past report."
Transportation and warehousing, Moran says, sees an increase because of the push to buy items online rather than in stores. Nationwide, the manufacturing industry added 27,000 jobs -- that's the most since March of 2012. So, where are they hiring here? "Small manufacturing firms," Moran said. "Here in our region we had a lot of large manufacturers, they're for the most part gone. What's really fueling it is this smaller manufacturing companies, the ones under 500 employees."