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Posted on February 15 2024

Which industry is hiring and which industry is firing workers in America?

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By  Editor
Updated February 15 2024

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Workforce dynamics in different industries in the United States

  • The current employment landscape in the United States faces growth and decline across different industries.
  • American companies and employers added 353,000 new jobs in January, indicating the largest monthly gain in a year.
  • The US economy has increased, with 248,000 new jobs per month.
  • Furthermore, despite layoffs in certain sectors, the hiring statistics from ADP shows overall stability in economic growth and the job landscape in the US.

 

*Want to work in the US? Y-Axis is here to help you.

 

Employment landscape across various industries in the United States

Over the past six months the US economy has seen an average increase of 248,000 new jobs per month. Industries such as manufacturing, hospitality, healthcare, and professional services have contributed significantly to this growth. Notably, high-paying professions like accountants, engineers, and lawyers have seen substantial increases in employment.  

 

In January, 353,000 new jobs were added by American companies and other employers, which is the largest monthly gain in a year. Additionally, job gains were increased by the government by a total of 126,000 in November and December combined. 

 

*Looking for jobs in the US? Get expert guidance from Y-Axis. 

 

Certain industries witness layoffs in United States

Despite overall job gains, certain industries like media, finance, and technology have witnessed layoffs. Few of the well-known companies like Google, Amazon, and Facebook’s Meta are among the corporations that have announced layoffs.

 

Layoffs happen for various reasons, and some of such stated by companies are to:

  • To preserve or increase profit margins
  • To adjust business strategies
  • Restructuring purposes
  • Due to changes in economic conditions 

 

*Know more details about the Job outlook in United States!


Job gains across various industries in United States

For the last three months, companies have continued to hire more people in the majority of industries. The details about the industries and the number of jobs added have been given below:

Month

Industry

Number of jobs added

November, December, and January combined

Manufacturers

56,000

Restaurants, hotels and entertainment companies

60,000

Health care providers - hospitals, doctors' offices, and dentists

300,000

October

Accountants, engineers, lawyers and their support staff

120,000

September

Federal, state and local governments

120,000


Despite the layoffs in certain industries, the hiring data from ADP shows that low unemployment benefit claims and consistent private-sector businesses hiring contribute confirm overall stability in employment landscape across various industries and economic growth in the United States. 

 

Planning for US Immigration? Talk to Y-Axis, the world’s no. 1 overseas immigration company.

For more updates on US Immigration news, follow Y-Axis US news page!

 

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Web Story: 
Which industry is hiring and firing workers in America?

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