November 2015 Jobs Report: 271k Jobs Added in October

Posted by Paladin on November 09, 2015

An employment summary based on the U.S. Bureau of Labor Statistics’ (BLS) November 2015 monthly jobs report.

The economy bodes well for creative and marketing professionals who possess the skills that are relevant for innovative practices that drive performance in the digital age. In October, a bullish U.S. economy added 271,000 new jobs. This figure beat Wall Street’s expectation of 180,000 new jobs.

Jobs Report for November 2015 - Chart Showing 271,000 New Jobs Added in October

The biggest employment gains came from professional and business services (+78,000 new jobs in October). But unfortunately, BLS did not categorize the number of new marketing jobs as it did in previous jobs reports.

August and September had brought weak employment numbers as companies laid off temporary workers after summer. In November’s jobs report, BLS revised August’s and September’s employment gains to add 12,000 jobs for each month. The unemployment rate remains unchanged at 5 percent, but the civilian labor force participation rate was also unchanged at 62.4 percent.

Jobs Report for November 2015 - Chart Showing National Unemployment Rate January through October 2015

Strong holiday hiring expected

Many analysts anticipated an increase in hiring close to the holiday season as retailers need temp workers for a busy two-three month period. Deloitte’s survey predicts that holiday sales will increase from 3.5 percent in 2014 to 4 percent in 2015. Consumers will likely spend more in 2015 than in past holiday seasons, according to the survey.

Retail trade is seeing a strong uptick in hiring, and creative/marketing workers in this industry should have their pick of opportunities. But unfortunately, most hourly workers will continue to see wage stagnation that has affected most workers in all industries since the Great Recession. Pay increases—about 10 percent the past two years—have largely been reserved for professionals.

What employers want

Employers want top-line results, and are willing to pay for it. Creative pros who can design infographics that boost Web traffic will get financially rewarded. And similarly, digital marketers who can integrate a seamless omnichannel experience will get their just compensation. More often than not, top talent can negotiate above “market values” if they know how to leverage their scarce, but extremely valuable, expertise. [ Take a look at Paladin’s free 2016 Salary Guide. ]

According to an American Express survey, 46 percent of retailers recruited staff with new skills to achieve growth. So for creative job candidates, educational pedigree has less importance than differentiation through your current skill sets or ability to boost performance.

Marketing/creative is one of the key business areas that’s constantly being disrupted by new practices, innovation and technology. And gone are the days where a classically-trained MBA can rely on past approaches to apply to today’s digital challenges—such as SEO, analytics or brand design for mobile.

But the acquisition of these skills don’t necessarily bring long-term job security—because many of today’s marketing technologies have a short shelf-life. Therefore, digital experts are incentivized to reap the financial harvests of their skills on the front-end—through negotiation—before their bargaining chips begin to vanish. They’d have little or no leverage when their skills are replaced by another disruptive method or technology.

Here are the top 10 creative and marketing jobs in 2016:

  1. Account Executive: $70,578
  2. Media Buyer: $63,069
  3. Market Research Analyst: $64,599
  4. Brand Manager: $100,931
  5. Marketing Manager: $100,645
  6. Graphic Designer: $54,198
  7. Art Director: $121,974
  8. Content Manager: $99,967
  9. User Experience Designer: $95,717
  10. Web Producer: $78,135

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Posted in: Jobs Reports, Monthly Economic Reports

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