August Jobs Report: 187K Jobs Added, Manufacturing and Engineering See Growth
August Jobs Report: 187K jobs added, life sciences contributes +21k
Another 187k jobs were added in June's Bureau of Labor Statistics Jobs Report, nearly matching analyst expectations (170k job additions predicted). The big news is the rise in unemployment rate which now sits at 3.8% (versus the predicted 3.5%) and wages went up .2%. Wage growth was a hot topic for this month's report. Too rapid could lead to a risk of reaccelerating inflation which would likely lead the Fed to raise interest rates further. Right now, job and wage growth indicate the economy is holding steady.
In terms of hiring, we're remaining in a "Goldilocks" economy, where growth is not too hot but also not too cool. Those are really good, solid, sustainable numbers that lead to gradual real wage growth, gradual increases in prime-age workforce participation rates and gradual expansion of the overall US workforce.
Professional, scientific and technical services, the subsector that includes STEM jobs and engineering, was once again a top performing industry with 21k jobs added and saw a slight dip in its unemployment rate for the second month in a row. Additionally, the Manufacturing industry added 16k jobs. Here's a look at key engineering and manufacturing jobs report insights.
Key Engineering and Manufacturing Jobs Report Insights
Total Jobs Added: +187k
Jobs Added in Professional, Scientific and Technical Sector: +21k
Jobs in Engineering: +4k
Jobs in Manufacturing: +16k
Growth In Manufacturing and Clean Energy Jobs
Since the Inflation Reduction Act was signed into law, outside groups estimate its provisions have created more than 170,000 clean energy jobs. The law is projected to create more than 1.5 million new jobs and add $250 billion to the economy by 2030. Companies have already announced more than $110 billion in clean energy manufacturing investments in the last year alone. The work is just getting started – and the manufacturing industry is in need of top talent to power the future.
Manufacturing incentives in the Inflation Reduction Act are encouraging companies to expand clean energy investments in the United States. The Environmental Defense Fund identified five communities in the U.S. that are winning clean energy manufacturing jobs:
- Schenectady, New York
- Queen Creek, Arizona
- Bryan County, Georgia
- Pueblo, Colorado
- Marshall, Michigan
“Building our cutting-edge, advanced materials in Georgia will not only create new careers in solar but help bring more affordable, reliable clean energy to customers across the country.” - CEO of solar supplier
Jobs Available Nationwide
New data shows which U.S. states have the most overall job opportunities and hires. We’re also drilling down which states are hiring the most workers in the manufacturing sector. Our analysis found significant hiring all across the country.
Florida in particular is seeing a manufacturing job boom. It added the third-highest number of manufacturing jobs in the country since 2021, according to the Bureau of Labor Statistics. The Tampa Bay area has approximately 74,000 manufacturing jobs, making up about one-fifth of Florida’s manufacturing workforce, according to Axios.
U.S. STATES WITH INCREASE IN OVERALL JOB OPENINGS
- California +161,000 openings*
- New Jersey +36,000 openings
- Texas +25,000 openings*
- New York +21,000 openings
- Florida +21,000 openings
Source: BLS
*States with Progressive offices
NEW HIRES IN MANUFACTURING
- California +6,800*
- Texas +6,500*
- Alaska +4,700
- Florida +2,600
- Oregon +1,900
- Kentucky +1,300
- North Carolina +1,200
- Minnesota +1,000
- Washington +900
- Wisconsin +600
- Colorado +500
- West Virginia +300
Source: BLS
*States with Progressive offices
Read more: Skills Needed For Renewable Energy Career
Custom Staffing Solutions For Top Talent & Companies
Progressive Recruitment is constantly connecting the best engineering talent with the top renewable energy, oil & gas, power & utilities, and manufacturing companies in the U.S. Our consultants are up to date on the latest market trends, allowing us to offer truly in-depth solutions regarding your unique challenges. Contact us today to connect with top talent or to accelerate your engineering career.
