October 2018 Jobs Report

October 2018 Jobs ReportOctober 2018 Jobs ReportOctober delivered a stronger jobs report than most economists had expected, with employers adding 250,000 positions, according to the Bureau of Labor Statistics (BLS). Since the start of 2018, the economy has grown by more than 2.1 million jobs. The following sectors created the most jobs in OctoberLeisure and hospitality 42,000 jobs addedEducation and health services 44,000 jobs addedProfessional and business services 35,000 jobs addedManufacturing 32,000 jobs addedConstruction 30,000 jobs addedUnemployment tarif holds steadyThe unemployment rate in October remained at 3.7 percent, a 49-year low.The unemployment rate for college-degreed workers who are 25 or older was also unchanged from September, at 2.0 percent. These workers are in highest demand by employers.Other data from the BLS help to underscore the challenge that many employers face in this current environment, with historically low unemployment and a persistent lack of skill ed talent available for hire. According to the latest Job Openings and Labor Turnover Summary (JOLTS) there were 7.1 million job openings in the United States at the end of August - a record high.What employers need to knowIf your company is pulling out all the stops - from competitive compensation to outstanding perks - and not making much headway with potential hires, youll may want to assess the quality of your organizational culture. If your firms work environment is unattractive, or simply unremarkable, it could be contributing to your hiring challenges. And if you have a great corporate culture, but youre doing little or nothing to promote it externally, that could be hurting you, too.Organizational culture is a make-or-break factor in hiring (and retention). research shows a professionals fit - or lack thereof - with an employers workplace culture can strongly influence that persons decision to work for the firm.So, take stock of what youre doing to foster a positive wor k environment. Also, think of how to draw attention to your workplace culture, such as through social media or in job descriptions.What job seekers need to knowCan there really be too much of a good thing? That answer may be yes for highly skilled professionals who are currently pursuing new employment opportunities.Its not unusual for in-demand candidates, especially in top markets, to find they have multiple job offers to consider. While that sounds like a good problem for a job seeker to have, the decision-making process can be agonizing if the opportunities are all compelling - especially from a compensation perspective.But its essential for candidates to keep one key thing in focus when evaluating any job opportunity fit with the organizational culture. Heres why It doesnt matter what level of pay or what type of perks you receive if you dont find the work environment appealing - or you discover too late that its downright toxic.So, be sure to do your homework on the companys culture before applying for a job. During the hiring process, ask questions such as, What do you like most about work here? and What attributes do I need to succeed at this company? The answers you hear can help you determine if you would be a good match for the company and, most important, if the company would be a good match for you.