Labor Day 2024 vs. Labor Day 2023: changes in the job outlook
Oakland, California - Labor Day became a national holiday 130 years ago to honor workers' contributions to the economy and American culture. It figures most prominently in Presidential Election years, and it marks the unofficial beginning of the campaign run-up to election day.
California's unemployment rate has slowly increased from 4.6% on Labor Day of 2023 to 5.2% on Labor Day 2024.
"At 5.2%, by historic standards, is not high but, we are well above the national rate, and we're the second highest as of Labor Day 2024, the second-highest unemployment rate in the nation," said employment lawyer and former Employment Development Department Director Michael Bernick.
A Now Hiring sign hangs where workers are needed. (Photo by Joe Raedle/Getty Images)
Only Nevada is higher. Though job gains were strong in 2023, that not the case in 2024.
"Job growth over the last six months has slowed," said Mr. Bernick.
The small job growth we've seen this year is concentrated almost entirely in public spending.
"Government and in government-related payments; that is the healthcare sector which is so dependent on government," said Bernick.
Private business hiring has been flat.
"Those sectors have gained little," said Bernick. "California, we have about 20% of the nation's claims even though it has less than 13% of the nation's workforce," said the employment lawyer.
Technology sector layoffs, which were expected to slow down, have not slowed. Jobs in Artificial Intelligence have yet to explode. Chip manufacturing will likely not have a job boom.
"It’s becoming a highly automated industry," said Bernick.
On Labor Day last year, there were 902,000 job openings. This Labor Day, 667,000; 26 percent fewer open jobs but still a healthy number.
The not so healthy challenge is a declining trend in overall days workers are on the job.
"For now, employers are not engaging in large scale layoffs, but they are cutting back hours and that's of concern," said Bernick.
There are plenty of opportunities for law enforcement, truckers, teachers, programmers, accountants, solar installers, wind turbine techs, field techs, food service and personal care.
Job posting sites such as Indeed, Zip Recruiter, LinkedIn and Glassdoor have lists of the most readily available types of jobs.