How is USA Job Market in 2023?
- There are more than 5,867,000 job vacancies in the USA.
- Colorado, Utah, and Massachusetts have the most number of job vacancies.
- The average working hours in the U.S. is 40 hours.
- The unemployment rate of the USA is 3.5%.
- The average annual income in USA is 31,133 USD.
Number of Job Vacancies in USA
There are over 10.5 million job vacancies in the USA. Employment is expected to increase by 6.5% during 2014–2024. It is projected that there will be 160.3 million jobs by 2024. The BLS or Bureau of Labor Statistics of the USA Employment Projections program released projections for 819 occupations. Employment in 602 occupations is expected to increase.
Occupations related to Healthcare and technical services are expected to be the flourishing sectors, adding 2.3 million jobs.
The top 3 states of the USA with the highest job vacancies are:
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- GDP growth
The GDP Growth Rate of the USA is projected to increase by approximately 0.50% in 2023 and 1.70% in 2024, according to reports. The GDP of the USA is 25.035 trillion USD, currently.
- Unemployment rate
The unemployment rate of the USA is 3.5%, the lowest figure in the past 50 years. It implies that candidates have more opportunities to choose from. There is a demand for skilled professionals.
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Job outlook in Canada, 2023
Detailed information about the job outlook in the USA is given below:
The I.T. professionals create or support computer systems, applications, and networks.
Employment in computer and I.T. occupations is expected to increase by 15% from 2021 to 2031. The increase is expected to generate approximately 682,800 new job roles in the next decade. There are approximately 418,500 openings every year.
The average annual income for this sector is 97,430 USD.
Sales & Marketing
There are over 172,000 job opportunities in the Sales & Marketing sector in the USA. The market size is measured by revenue, and this sector would be worth 73.3 billion USD in 2023.
Sales and marketing are essential to every business. They influence in generating profit. Marketing builds awareness about an organization or a brand, and sales convert that into profits by attracting customers.
Finance & Accounting
An accountant is a professional who maintains financial records. The Bureau of Labor Statistics expects employment growth of 5.6% for accountants during 2021 and 2031. In this period, approximately 81,800 jobs would be generated.
The estimated revenue from accounting services is approximately 133 billion USD in 2022.
The healthcare expenditure of the U.S. is approximately 4.3 trillion USD and is expected to be 6.2 trillion USD by 2028, according to the Medicaid Services and Centers for Medicare.
Employment in healthcare occupations is expected to increase by 13% from 2021 to 2031.
It is expected that there would be around 1.9 million jobs, that is, a 23.1% increase in employment in the sector of leisure and hospitality.
The hospitality industry in the U.S. includes hotels, restaurants, amusement parks, cruises, casinos, events, and other tourism-related services. This industry is vital to businesses, employees, customers, and economies.
The USA has almost all the reputed restaurant chains, and the scope of hospitality management in the country is high. Multiple states in the USA give importance to the travel and hospitality industry.
Apply for USA work visa
Step 1: Find an H1B Sponsor
Step 2: Submit an LCA or Labor Conditions Approval
Step 3: Submit the Form I-129
Step 4: Complete the application at a U.S. Consulate or Embassy
Step 5: Duly fill out Form DS-160
Step 6: Schedule an interview
Step 7: Pay the required fees for a work visa
Step 8: Submit the required documents
Step 9: Attend the interview
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Jobs outlook in USA for 2023-24
Posted on January 12, 2023