We have Jobs, we need New Skills

This past Friday, Feb. 2, 2024, the U.S. Bureau of Labor Statistics released its first jobs report of the year, revealing some truly stunning results. In January, total nonfarm payroll employment increased by an impressive 353,000, significantly surpassing the projected increase of 185,000. This remarkable growth underscores the resilience and dynamism of the labor market.

The report highlighted job gains in professional and business services, healthcare, retail trade, and social assistance. In fact, 144,000 of these new roles span sectors such as health care, engineering, data analysis, software development, computer design, science, research, legal, accounting, and related occupations..

While the unemployment rate remained steady at 3.7 percent, the number of unemployed people saw little change, totaling 6.1 million. At BuildWithin, these statistics provide valuable insights into the state of the labor market and highlight potential areas of focus for our workforce solutions.

Notably, 144,000 of the newly added roles encompass technical fields such as healthcare, engineering, and data analysis, further underscoring the increasing relevance of these industries in the job market. The rapid hiring of individuals with technical skills reflects a shift toward skill-centered recruitment strategies.

These data highlight the importance of prioritizing skills over credentials in hiring. At BuildWithin, we are dedicated to developing solutions that facilitate the convergence of aptitude and job opportunities, irrespective of one’s professional or academic background.

With an encouraging start to the year, we remain committed to helping employers and job seekers meet at the crossroads of skill sets and job opportunities. It’s the dawn of an exciting year, and we look forward to the transformative impact BuildWithin can have in cultivating dynamic workforce ecosystems that drive innovation.

Toward a skilled future,

Ximena Gates