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Home Blog 25+ Mind-Boggling Labor Statistics [Updated 2020]

25+ Mind-Boggling Labor Statistics [Updated 2020]

by Darko Jacimovic

The last couple of years have been quite successful for America when it comes to employment rates. They have been rising in most states, and many sectors have recorded a healthy demand for new positions. Moreover, the latest labor statistics show that wages have also been increasing on a regular basis.

However, average workweek hours seem to be dropping continually, with the demand for tech jobs falling, and the number of jobs lost to automation rising. These negative trends are somewhat unexpected and quite worrying, especially for the labor force.

Now, let’s take a look at the most important figures regarding labor and employment, and how they affect the economy:

US Labor Statistics & Facts (Editor’s Pick)

  • $7.25 per hour is the minimum wage in America for 2020
  • There are 8.8 million veterans in the US labor force
  • $22.83 is the hourly rate for manufacturing workers in 2020
  • College recruiters earn a yearly average of $72,630
  • As of July 2020, there are 143.5 million US citizens in employment
  • 79.6% is the acceptance rate for interns
  • 40% of all occupational category jobs will diminish by 2030
  • There will be about 6 million new job opportunities by 2029

US Employment Statistics 2020

Labor statistics - Stats

1. The minimum wage in 2020 remains $7.25 per hour.

(Source: Trading Economics)

Even though the US has endured, and is still enduring, two major crises from 2008 until today, there’s one thing that remains unchanged — the minimum hourly wage.

Reports indicate that the minimum wage a worker can earn in 2020 amounts to $7.25. This also marks an all-time high, which has been consistent for the past decade.

2. Hourly earnings in the US have reached $29.39 in July 2020.

(Source: Trading Economics)

Judging by today’s jobs report, even though we are in the midst of a pandemic, the hourly wage in the US private nonfarm payroll rose by 7 cents, and as of July, these employees earn $29.39.

Employees of the private-sector production, though, received an average hourly pay of $24.63, marking a decrease of about 11 cents. Currently, it’s difficult to create an accurate analysis of recent and future trends due to large employment fluctuations because of the worldwide pandemic.

3. There were 1.8 million nonfarm job openings in July 2020.

(Source: BLS)

The U.S. Department of Labor issued a report in July stating that the total number of nonfarm payroll employment rose to a whopping 1.8 million.

These are fantastic news as the labor market improves each month significantly, reflecting a resumption of economic activity throughout the nation.

Leisure and hospitality, retail trade, government, and health care recorded the most notable gains.

4. Only 8 metropolitan areas in the US have unemployment rates below 5.0%.

(Source: BLS)

According to the latest U.S. unemployment rate report, 8 of 389 metropolitan areas have an unemployment rate below 5.0%. On the other end of the spectrum, 6 metropolitan areas have an unemployment rate of 20% or more, with one area recording a shocking 34.3% unemployment.

Even though the percentage has been falling steadily since January of 2020, these are still alarmingly high figures that the administration needs to deal with as soon as possible.

5. The Veteran joblessness rate fell to 8.0% in July 2020.

(Source: DOL)

Veteran labor statistics indicate that the unemployment rate fell by 0.8% from last month, registering a positive trend for our veterans.

Comparingly, the overall non-veteran rate for the month of July was 10.3%, which means our veterans are deservedly getting employed more regularly.

6. Among the US labor force, there are 8.8 million veteran men and women.

(Source: BLS)

Veterans take up 8.8 million of the total US labor force, according to official statistics on jobs across the states.

7.8 million of them are men, while a little over 1 million are women. In terms of employment, 7.5% of men and 10.7% of women are currently without a job. The total number of jobless veterans amounts to 700,000 who are all eligible to apply for a state’s unemployment insurance program or the UCX.

These programs are an amazing opportunity for veterans to ease their burdens, especially those who recently left the military.

Bureau of Labor Statistics Salary Report

Labor statistics - Laptop

7. Real average hourly earnings regressed by 0.4% from June to July of 2020.

(Source: BLS)

The Consumer Price Index (CPI) saw an increase of 0.6% in July, resulting in an increase in the average hourly earnings of about 0.2%. However, the real average earnings regressed the third month in a row, this time by only 0.4%.

Last year’s data show similar percentages, and when adjusted seasonally, result in an average increase of 3.7% during a twelve-month period.

8. Job creation statistics show that wages for production and nonsupervisory positions are lower.

(Source: BLS)

It comes as no surprise that the average earnings for production and nonsupervisory positions in the US are lower.
For instance, the respective real average hourly and monthly earnings were $24.63 and $837.42 in July 2020. Nevertheless, both segments improved from their July 2019 results, or $23.54 and $788.59, respectively.

9. Salaries in the US have decreased for three months in a row.

(Source: Trading Economics)

US labor statistics indicate that things were looking good before the start of the pandemic in terms of salaries. A steady monthly increase from 3.83% to 4.73% was maintained for a longer period, up until the month of March in 2020, when the lowest increase was recorded at only 0.8%.

April recorded the lowest decrease in over 50 years, with 6.95%, while June and July recorded decreases of about 4.37% and 2.42% due to the coronavirus pandemic.

However, the US is slowly recovering from this massive economic hit. As we can see, the decrease is slowing down while the latest job data estimates predict another rise in salaries.

10. Manufacturing salaries hit an all-time high in July 2020 at an hourly rate of $22.83.

(Source: Trading Economics)

Manufacturing salaries have come a long way since the end of the Second World War. In the 1950s, manufacturing workers were earning $1.27 per hour, with the hourly rate increasing exponentially with each passing month.

Today, these workers’ hourly wage rose to a record high of $22.83 per hour up from $22.58 in June, per the latest statistics on jobs salary and benefits.

11. The average yearly salary for college recruiters is $72,630.

(Source: NACE Web)

According to this report, in 2019, college recruiters were paid handsomely. Namely, the average monthly wage amounted to $6,052, not including any performance-related bonuses, overtime work, or other forms of compensation.

This is a pretty solid salary for hiring professionals who are responsible for attracting and employing top-talented students from colleges.

12. 392,000 workers received the minimum pay in 2019.

(Source: BLS)

Jobs data from 2019 indicate that the number of workers who receive the federal minimum hourly wage, and those that earn below the federal minimum of $7.25, make up 1.9% of all workers who receive hourly pay.

Breaking it down into numbers, 392,000 workers receive a $7.25 hourly wage, while about 1.2 million have wages below the federal minimum.

The total number of workers getting paid at hourly rates amount to 82.3 million, or 58.1% of all workers.

Bureau of Labor Statistics Jobs Report

Labor statistics - Job

13. 143.5 million Americans are employed as of July 2020.

(Source: BLS)

The BLS issues economic news releases and employment summary regularly, and according to the latest data available, there are more than 143.5 million Americans currently employed.

This means that close to 89.7% of the civilian labor force is working, which marks an employment to population ratio of 55.1%.

14. 23.9 million Americans are currently working as part-time workers.

(Source: Trading Economics)

Jobs report today suggest that 16.6% of the total labor force in the United States are part-time employees.

The majority of the labor force remains with full-time employment or about 119.5 million US citizens.

15. 79% of all businesses have rejected an applicant because of their social media activity.

(Source: Martech Series)

Social media is among the top assets used by HR professionals when scouting for potential candidates.

Upon reviewing applications, 9 in 10 recruiters would check out the candidate’s social media presence. And, according to these employer statistics, 8 in 10 would decline a candidate if their social media activity is filled with inappropriate content.

16. 72% of all employers state resumes are of vital importance for candidate evaluation.

(Source: Martech Series)

Personal branding is also a crucial aspect that job seekers must focus on, especially in 2020.

Almost three-quarters of all employers evaluate the candidate’s personal brand. Numerous hiring professionals are stressing the importance of more depth in resumes as opposed to the standard run-of-the-mill set of skills and qualities.

17. The acceptance rate for interns is 79.6%.

(Source: NACE Web)

Job demographics for interns are looking good. The offer rate stands at 70.4%, which is not bad at all. Next comes the acceptance rate of 79.6% that is incredibly promising, with a conversion rate of 56.1%.

Even though these are not record-high percentages, they are still an improvement from the previous year, a positive difference of 15.6%.

Interns also see improvement in terms of the average hourly wage. Check out their earning potential in the next jobs statistics:

18. The average yearly starting salary for Bachelor’s degree graduates is $59,853.

(Source: NACE Web Publication)

Students who are holding a Bachelor’s degree can rest assured that they will be earning solid amounts after graduating. There’s an overall improvement in the wages for the Class of 2020 compared to the Class of 2019 by 0.15%.

This may seem like an insignificant percentage, but it is an overall average estimate for a broad category of Bachelor’s degrees. Besides, if these labor statistics are any indication, then graduates who have ongoing student loan debts would have an easier time dealing with regular monthly payments.

19. Engineering graduates are expected to earn the highest starting salaries of $69,961 per year in 2020.

(Source: NACE Web Publication)

This marks a slight change (1.1%) from last year’s average starting salaries when engineering graduates were also the highest-paid holders of a Bachelor’s degree.

Occupational employment statistics indicate that chemical engineering majors are projected to be the highest-paid of this occupation, earning a yearly starting salary of $73,719.

20. Agriculture and natural resources graduates are expected to earn the lowest starting salaries of $53,504 per year in 2020.

(Source: NACE Web Publication)

On the other end of the table, graduates who hold a Bachelor’s degree in this field will be subject to the lowest yearly incomes.

Namely, their average monthly starting salary amounts to $4,458, which is a decrease of about 4% from the year before.

Now, let’s turn our attention toward what the future holds for jobs in America:

American Careers & Future Job Market Trends

Labor statistics - Kitchen

21. By 2030, about 60% of job growth will be congested in only 25 cities.

(Source: McKinsey)

Megacities in the US account for nearly 44% of all employment today, with reports suggesting an 11% growth rate for the next 10 years.

Due to automation increasing, the need for displacement also rises, and this would mean many people could be relocated for company purposes. The latest labor trends indicate that 60% of the job growth by year could be concentrated in only 25 major cities alongside their peripheries.

22. 40% of all US jobs that are in occupational categories could diminish by 2030.

(Source: McKinsey)

Americans who are working in occupational categories could have a bit of a hard time in the next 10 years. Reports indicate almost 40% of all US jobs are likely to shrink.

Jobs trends suggest that not all workers will be displaced, as these jobs aren’t disappearing altogether. This decline means that many people are still likely to remain on the payroll, although they’ll need to learn new skills in order to adapt.

23. 6 million new jobs are expected to become available over the next 9 years.

(Source: BLS)

BLS’ latest reports indicate that by 2029, a whopping 6 million new opportunities will become available for Americans.

This data on trending jobs, published on the 1st of September in 2020, suggests an annual growth of only 0.4%, which is slower than the prior 10 year estimate period.

24. 6 of 10 fastest-growing occupations in the US are related to healthcare.

(Source: BLS)

The healthcare industry, alongside the social assistance sector, is expected to add the most new jobs by 2029.

Together, they’re projected to add an astonishing amount of 2.4 million new jobs. These job market statistics indicate new opportunities for registered nurses, medical assistants, cooks, and food preparation workers, among numerous others.

Now, let’s see which occupation will add the most jobs:

25. Home health aides and personal care aides are projected to add 1.1 million new jobs by 2029.

(Source: BLS)

To work as a home health aide or a personal care aide, you’d need at least a high school diploma, formal training, and pass a standard aide test.

Perhaps the low education levels are a reason why this occupation is the highest in-demand right now. And according to the latest national labor statistics, these professionals will have the opportunity to choose from the highest number of jobs available.

Nevertheless, working as a home health or personal care aide is a really responsible and accountable job.

26. Workers over the age of 50 are at a higher risk of losing their jobs.

(Source: McKinsey)

About 11.5 million US workers over the age of 50 are at an increased risk of being displaced by automation.

On the other end of the spectrum, career trends show stunning figures about young workers. Namely, about 14.7 million young workers are currently occupying highly automatable jobs, which means they are also likely to be displaced.

However, the situation is not the same as with the older generation, primarily because the younger generation is more prone to coping with the latest trends and technological advancement.

Nevertheless, workers aged 34 or less will likely need to rethink their steps, build new qualities, and gain a new foothold into today’s modern business world.

Final Thoughts on Labor and Statistics

Labor statistics - Business

Staying up to date with the latest employment reports is vital for both job seekers and employers. They’re also incredibly useful to students who are deciding on their next step of education while keeping in mind future job opportunities.

The latest trends indicate that times are changing across America, and, even though the demand for specific roles is slowing down, there’s a huge diversity in hiring trends, as well as a modest growth of the labor force.

These mind-boggling stats show that the job market and the economy are changing exponentially, registering more positive than negative future trends.

Frequently Asked Questions (FAQ)

What are current employment statistics?

Current Employment Statistics (CES) are defined as estimates of employment, earnings data, and hours worked for each industry, state, and major urban area in the United States.

It is a federal-state cooperative program and the BLS is running it. The BLS conducts a monthly survey of 140,000+ companies, businesses, and government agencies per pre-specified guidelines.

It gathers all relevant information, which state employment agencies then use for various purposes.

What job has the highest employment rate?

Working as a healthcare professional can be quite daunting, especially in challenging times like these.

However, there are numerous benefits, like an excellent paycheck or the opportunity to be able to help other people.

With that in mind, healthcare professions have the highest rates of employment. Here’s a list of the jobs with the highest employment rates:

  • Dental Practitioners – 99.72%
  • Medical Practitioners – 99.72%
  • Medical Radiographers – 99.72%
  • Ophthalmic Opticians – 99.72%
  • Pharmacists – 99.72%
  • Psychologists – 99.72%
  • Veterinarians – 99.72%
  • Environmental Health Professionals – 99.67%

What is the current US unemployment rate?

The employment situation in the United States is slowly stabilizing, with reports indicating a rise in total nonfarm payroll employment. July alone saw about 1.8 million new jobs, as the labor market improves after the devastating effects of the pandemic.

As of July 2020, the unemployment rate stands at 10.2%, signaling a decrease from previous months of 0.9%.

Job gains are most notable in leisure and hospitality services, professional and business services, and healthcare, among others.

How many careers are in the United States?

There are more than 12,000 various job titles and descriptions available for people to choose from in the US in today’s modern age.

Many new professions have popped up, such as acute care nurses, art therapists, biofuels production managers, business continuity planners, music therapists, and many others.

When we break them down into career categories, we can come up with a list of 1,300 careers. Most of them are similar occupations, and if we divide them further, we can see a total of 440 career occupations.

What jobs will be in demand?

The current pandemic situation has made many people rethink their futures, especially those that are about to go to college and the ones already in college.

With that in mind, many people might opt to search for a new job or a career path, so they’ll need to be wary of what to expect.

Here’s a list of the top careers that will be in high demand over the next 5 years, as numerous job growth statistics suggest:
  • Home Health Aide – $24.918 per year
  • Nursing Assistant – $28,454 per year
  • Construction Worker – $31,616 per year
  • Physical Therapy Aide – 33,238 per year
  • Medical Technologist – $56,368 per year
  • Truck Driver – $57,616 per year
  • Operations Research Analyst – $61,457 per year
  • Financial Advisor – $66,083 per year
  • Health Services Administrator – $70,147 per year
  • Registered Nurse – $70,366 per year
  • Web Developer – $72,040 per year
  • Physical Therapist – $74,672 per year
  • Information Security Analyst – $81,555 per year
  • Statistician – $83,291 per year
  • Software Developer – $105,090 per year

How many Americans are of working age?

The current population in the United States is estimated to be about 328.2 million. 260.3 million of these are counted as civilian noninstitutional population, of which 159.8 are registered in the labor force, while 100.5 million are not registered in the labor force.

Every American between the ages of 15 and 64 is considered to be of working age.

Currently, there are about 205.9 million US citizens of working age or about 62.7% of the total population that reside in the United States of America.

Whats the average salary in America?

As of July 2020, the average yearly salary for workers in America amounts to $51,230. United States citizens currently average 34.5 hours per week for which they are paid approximately $24.63 per hour.

The highest ever average yearly salary was recorded just a few months earlier, in April of 2020, when workers earned $52,249, or $25.12 per hour.

Minimum wage remains the same with those on this type of payroll earning $15,080 per year or $7.25 per hour.

What is the job that pays the most?

The healthcare industry is the highest-paying industry in the United States at the moment, and with good reason too. Healthcare workers are responsible for people’s health, especially in crises such as the one we’re currently enduring.

Therefore, it’s quite understandable that they earn the highest wages. Here’s a list of the top 5 jobs that pay the most:
  1. Anesthesiologist – $267,020 per year
  2. Surgeon – $255,110 per year
  3. Oral & Maxillofacial Surgeons – $242,370 per year
  4. Obstetrician & Gynecologist – $238,760 per year
  5. Orthodontist – $225,760 per year

All of these occupations require a Doctorate degree, so if you’re looking to help people, save lives, and earn hefty sums in the process, then judging by these labor statistics, these 5 healthcare professions are your ideal pick.

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