Recent analysis of the job market in the United States show that while the job market itself might be slowing somewhat, the job outlooks for the future and overall situation could be better than expected. The report was released on Friday in what is being called the U.S. Employment Situation Report. It included a combination of private and public analysis of the labor and job market, including various different sectors, according to UPI.


Lack of Jobs


This report is released on a monthly basis so job seekers and professionals in this industry are able to look at the trends of the job market in the U.S. It first seemed rather unfortunate because for the second month in a row, the U.S. Employment Situation Report showed a significant decrease in new jobs being added to the job market. In 2013, there were about 194,000 new jobs added a month, but by January 2014, it was down to only 113,000 new jobs added a month. This was much lower than the expectations.


Analysis


However, that didn’t stop the Conference Board from using private and public analysis to look at the report further and find some positive trends, aside from the downturn in new jobs being added. The first thing the analysis showed them was that the quit rate for employees voluntarily leaving their jobs went up. This is actually considered a good thing for two reasons. For one thing, it means individuals feel confident enough in the job prospects that they an quit their job and find another one, or that they have already successfully found one. Another reason it is a good sign is because it opens up a larger percentage of jobs for other job seekers.


According to the Labor Department, the national quit rate rose to 1.8 percent in November 2013, which is the highest it is has been in over five years. In 2009, the quit rate was at 1.2 percent. These numbers suggest through analysis of job markets that workers are being promoted to higher levels and opening up lower level jobs for new job seekers, getting other jobs in a growing market, and providing more job openings for others.


Other trends show an increase in the jobs index, as well as higher wages and the ability for employees to move up the ladder at their companies. Gad Levanon, who is the director of macroeconomic research at the Conference Board, told reporters, “Despite weak job reports in December and January, the Employment Trends Index is not signaling a slowdown in employment growth.”


Some other positive increases include better unemployment benefits, inflation-adjusted industries like production and manufacturing, and an increase in various levels of job availability.