Posted by Paladin on December 08, 2015
An employment summary based on the U.S. Bureau of Labor Statistics’ (BLS) December 2015 monthly jobs report.
According to BLS’s latest jobs report, the U.S. economy added a stronger-than-expected 211,000 jobs in November, beating economists’ expectation by 11,000 jobs. The unemployment rate remains unchanged at 5 percent. The latest employment figures is fueling speculation on Wall Street that the Federal Reserve will raise interest rates later this month.
BLS also revised employment gains for October and September to show 35,000 more jobs than what was previously reported. Notable jobs gains by sector are as follows:
- Construction: +46,000
- Retail trade: +30,700
- Professional and business services: +27,000
- Healthcare: +23,800
- Financial activities: +14,000
- Government: +14,000
The government data does not break down employment gains by marketing and creative jobs. However, professional and business services added 27,000 new jobs for the month.
The Federal Reserve is considering the first rate increase since June 2006. The Open Market committee will hold its last meeting of the year in mid-December, and Feds chairwoman Janet L. Yellen has consistently argued that the economy can support higher interest rates.
CEOs remain cautious
Despite the positive outlook, many CEOs from leading U.S. companies remain cautious about the economy. The Business Roundtable CEO Economic Outlook Index finds that 27 percent of CEOs want to decrease capital spending over the next six months. The survey shows that hiring plans remained consistent, but the plans to lower capital investments is the biggest anticipated reduction since 2009.
American workers continue to increase their productivity, but wage stagnation has persisted since the recession began. This week, BLS announced that labor productivity is on pace for 2.2 percent annual growth.
How creative professionals can succeed
Marketing and creative professionals who can produce results will find their share of career opportunities and job options. Employers want performance and are willing to pay for it.
For instance, Web gurus who can optimize Internet sites and social media channels will get financially rewarded. Marketers who can create a seamless omnichannel experience will have job security—and perhaps other lucrative job offers. [ Take a look at Paladin’s free 2016 Salary Guide. ]
Many employers are looking to hire professionals who can add new skills at a time when innovation and best practices are seen as competitive advantages. In creative, educational pedigree has less importance—it’s all about having the ability to boost organizational results.
Here are the top 10 creative and marketing jobs in 2016:
- Account Executive: $70,578
- Media Buyer: $63,069
- Market Research Analyst: $64,599
- Brand Manager: $100,931
- Marketing Manager: $100,645
- Graphic Designer: $54,198
- Art Director: $121,974
- Content Manager: $99,967
- User Experience Designer: $95,717
- Web Producer: $78,135
If you work in marketing, public relations/communications, creative, social media and digital, it’s important to stay up-to-date. If you have the relevant skills, you’re likely to come across your share of attractive opportunities—if you look for them.
The corporate world is continuing its march toward digitization, analytics, mobile and social media. And a wave of innovations are pressuring most companies to place a premium on skills that are suited for more sophisticated campaigns—indeed, skills that recruiters and classically-trained managers often have trouble defining or understanding.