A Strengthening Job Market – January 2023

With January job gains surpassing expectations, the job market’s strength is increasing. In January 2023, job growth totaled more than half a million . Despite the Federal Reserve’s year-long efforts to cool the job market’s momentum, hiring did not show signs of slowing in the first jobs report of 2023.

Organizations continue seeking to hire individuals, as shown by the double-digit month-over-month percentage increases in nearly all Rose International job opening categories. The Rose International Team remains at the forefront of connecting professionals with the right job opportunities.

Job Landscape Evolution

According to the Bureau of Labor Statistics jobs report, the job landscape gained 517,000 jobs in January 2023. The job gain easily surpassed Dow Jones’ prediction of 187,000 . National unemployment decreased to 3.4%, the lowest level since May 1969 .

In January 2022 , the labor market gained 467,000 jobs and the national unemployment rate was 4%. Moreover, in January 2021 job growth totaled 49,000, and the national unemployment rate was 6.3%. Additionally, 225,000 jobs were added in January 2020 , and national unemployment was 3.6%.

Other notable points from the January 2023 jobs report include:

• The professional and business services sector added 82,000 jobs in January 2023. Monthly job growth in this field averaged 22,000 in 2022.
• The November 2022 jobs total was revised from 256,000 to 290,000.
• The job growth in December 2022 was also revised from 223,000 to 260,000.

?Following losses in November and December 2022, the temporary help services sector grew by nearly 26,000 jobs in January 2023.

In January 2023, Rose International saw 48% growth in total job openings month-over-month. The three categories with the highest monthly job opening increases were IT, business professional and admin/clerical.

Rose International Month-Over-Month Overall Job Openings Growth:

• 2023: 48%
• 2022: 46%
• 2021: 22%

The Rose International Team is dedicated to supporting individuals as they find job opportunities that are right for them. The team is eager to assist professionals of all experience levels with the next chapters of their career journeys.

A New Career Direction

With shifts in the labor market, including layoffs, hiring freezes and fast-growing job titles, individuals might seek to create changes in their career paths to ensure sustainable growth. Whether it's due to unfortunate news or a yearning to gain new experience, there are things job seekers can implement as they navigate the jobs environment.

• Resume: Update online profiles with job experience and skills. Preparing multiple versions of a resume may also be beneficial, as needed. Ask previous supervisors or colleagues to write recommendations on LinkedIn.
• Network: It's becoming more common for job seekers to create posts where they share that they are looking for a job and ask their connections to keep them in mind for job opportunities. In addition, interacting with professionals who work in a desired field can also help grow a professional network. Joining online or in-person groups and events are other valuable ways to continue networking during a job search.
• Connect with a recruiter: Recruiters provide support throughout the job search and interview processes. They have in-depth knowledge of available jobs, needed skills, techniques to optimize resumes and interview preparation strategies. When job seekers connect with recruiters and maintain a reputable relationship, the recruiters are more likely to consider them for future opportunities. Connect with the Rose International Team by clicking here .
• ?Upskill and reskill: When job seekers work to enrich their skillsets, they enhance their employability and professional growth, which can help improve the likelihood of mobility within an organization. Additionally, doing skills assessments identifies possible gaps.

The job market had tremendous growth in January 2023. As many hope the labor landscape continues rebuilding in the coming months, improving adaptability benefits professionals, business leaders and organizations of all scopes.

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?? Rose International ?is one of the largest providers of Staffing and Total Talent Solutions to corporations and government agencies, employing thousands of people in all 50 states. Certified minority- and woman-owned, the company is headquartered in St. Louis, MO and has offices and service delivery centers across the U.S. and India.

?? Rose International is hiring!?Click here to view our available job openings . Know someone looking for the next step in their career? Send them?this link . Jobs are updated frequently, and we encourage you to check back often.

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