November Jobs Report’s 321k New Jobs is Highest Since April

by Modis on December 5, 2014

November Unemployment Rate

According to the monthly Employment Situation released by the U.S. Bureau of Labor Statistics today, November reported the creation of 321,000 new jobs. November is the first month reporting more than 300,000 new jobs since April of this year. Despite widespread job gains, the unemployment rate remained steady at 5.8% nationally.

The 321,000 new jobs far surpassed the 224,000 average monthly gain over the past twelve months. So far in 2014, the annual monthly average of new jobs is 241,000 per month. From an annual perspective, the average monthly gains in 2012 and 2013 were 186,000 and 194,000 respectively.

The November Employment Situation also revised numbers for September and October. The September Jobs Report originally reported 248,000 new jobs, which was revised up to 256,000 in October, and up to 271,000 in November. The October Jobs Report initially reported 214,000 new jobs, and the November report revised up to 243,000. These two revisions equaled 44,000 more jobs than reported last month.

Spotlighting November’s Tech-specific Stats

Professional and business services (the industry containing the tech sector) led in job growth for the month with the creation of 86,000 jobs. This far surpasses the average gain of 57,000 per month over the past twelve months.

Within the professional and business services industry, the IT-specific growth was also on par with the past several months. Management and technical consulting services reported 7,300 new jobs, while computer systems design and related services reported 6,500. This is indicative of the sustained, long-term growth in information technology.

Projected Tech Growth for 2015 and Beyond

By 2022, most of the major IT professions are expected to undergo significant growth due to the booming tech revolution. Understanding these changes and how the industry reached this point is essential for success moving forward in the competitive IT hiring space. Our latest infographic highlights the major tech milestones of the last quarter of a century and how they’ve shaped the IT professionals we see today. View it here.

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