Key Takeaways:

• Focus on Durable Goods Manufacturing
  • Despite an overall decline in manufacturing (-46,000 jobs) due to strike activity, nondurable goods saw marginal growth. Explore opportunities in resilient manufacturing niches and support transportation equipment manufacturers recovering from strikes to strengthen relationships in this sector. 
• Enhance Food & Beverage & Lodging Efforts
  • While leisure and hospitality employment showed little change overall, internal data revealed food services and drinking places remained stable, contributing 56.42% to revenue share. Focus recruitment efforts on year-round roles and strategies to maintain this sector’s dominance. 
• Strengthen Public Sector Recruitment
  • Government employment continued its upward trend with 40,000 jobs added in October, particularly in state government (+18,000). Leverage these hiring trends by targeting key public sector roles, including state and local government positions, to align with sustained growth. 
• Capitalize on Health Care Growth
  • Health care added 52,000 jobs nationally in October, continuing its upward trend. Significant growth occurred in ambulatory health care services (+36,000) and nursing and residential care facilities (+9,000). Target these high-demand areas to expand contributions in this consistently growing sector.
• Address Professional Services Challenges
  • Professional and business services, including temporary help services, saw a decline (-49,000 jobs). Refocus recruitment strategies on stable niches such as consulting and IT services to counteract these losses and unlock new opportunities.

 

 

October 2024: High-Performing, Mid-Tier, and Emerging Opportunity

High-Performing Industries

• Food & Beverage & Lodging (56.42%)

• Performance: Dominating our sales, this sector accounted for over half of total contributions.

• Insight: A strong area of expertise for us, with consistent results. Continuing to invest in partnerships and building pipelines in food services and lodging will help sustain momentum.

Healthcare Services (3.36%)

• Performance: Underperformed relative to market opportunities.

• Insight: Leverage October’s national job growth in ambulatory services and nursing care to increase contributions in this sector.

Mid-Tier Industries

Manufacturing (4.32%)

• Performance: Steady despite external challenges, with nondurable goods showing resilience.

• Insight: Maintain strong relationships in stable manufacturing subsectors while exploring new opportunities in durable goods post-strike recovery.

Finance (6.60%)

• Performance: A steady contributor to sales, indicating consistent hiring demand.

• Insight: Prioritize recruitment in financial analysis and compliance roles to align with stable industry trends.

Sales (17.62%)

• Performance: A significant contributor, showcasing strong demand for skilled professionals.

• Insight: Continue refining efforts on leadership and high-value sales roles to capitalize on demand.

Emerging Opportunity Industries

Marketing (0.00%)

• Performance: No recorded contributions this month despite opportunities in areas like digital marketing and strategy.

• Insight: Evaluate recruitment strategies to identify and target high-demand marketing niches for future growth.

Legal (0.51%)

• Performance: A minimal contributor relative to other functions.

• Insight: Target specialized legal roles such as compliance and corporate consulting to enhance performance.

Human Resources (0.57%)

• Performance: Underperformed despite consistent demand for HR professionals.

• Insight: Focus on growing fields like HR analytics and leadership development to capture more opportunities.

 

 

End Notes

Goodwin Recruiting aligns with October 2024 labor market trends, offering clients and candidates unmatched expertise to thrive in key sectors.

• Leading in High-Impact Sectors
  • Goodwin’s proven success in Food & Beverage, Lodging, and Sales underscores our ability to deliver consistent results. By focusing on year-round hiring strategies, we ensure our clients stay ahead in these competitive industries.
• Expanding into Growth Markets
  • With strong job gains in Healthcare and Government, Goodwin is primed to connect organizations with top talent in these rapidly expanding fields. Our expertise positions us as a trusted partner for clients navigating these high-demand sectors.
• Unlocking New Opportunities
  • By refining recruitment strategies in Professional Services and emerging fields like Marketing and HR, Goodwin helps organizations uncover untapped potential, ensuring sustainable growth and success.

Why Goodwin Recruiting? We combine deep industry knowledge with a client-focused approach to deliver the talent you need to thrive in today’s dynamic job market.