Blog – Employment and Labor Market – United States – August 2022 The United States middle class continues to struggle with high cost of living. Employment was up in August 2022 as compared to July 2022. Employment gains on the service side (263k) were disproportionately concentrated in professional & business services (68k), healthcare (62k), retail trade (44k) and leisure & hospitality (31k), though financial services (17k) and wholesale trade (15k) also recorded decent gains. Goods producing industries (45k) had another solid month of hiring, with manufacturing (22k) and construction (16k) both chipping in with decent gains. Motor vehicle & parts (-2k) shed jobs in August, which is consistent with some automakers announcing layoffs in recent months. Near shoring is leading to more automation!

1. EMPLOYMENT
AND LABOR
MARKET –
UNITED
STATES –
AUGUST 2022
Paul Young CPA CGA
September 2, 2022

2. PAUL YOUNG - BIO
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
Youtube - https://www.youtube.com/user/youngercga1968/videos

3. AGENDA
• BMO / Employment
• Net new jobs – United States
• August/21 vs Dec/21 Employment
• USA Metro areas
• Job Vacancies
PRESENTATION TITLE 2/11/20XX 3

4. USA VS CANADA EMPLOYMENT
BMO - Employment -
Canada - July 2022.pdf
Steady Growth In
Payrolls ... As It Was.pdf

5. NET NEW JOBS – UNITED STATES
Source - https://www.bls.gov/news.release/empsit.nr0.htm#
PRESENTATION TITLE 2/11/20XX 5
Employment - USA -
August 2022.pdf

6. NET NEW JOBS – UNITED STATES
Source - https://www.bls.gov/news.release/empsit.nr0.htm#
PRESENTATION TITLE 2/11/20XX 6
Employment - USA -
August 2022.pdf

7. USA METRO AREA
Source - https://www.bls.gov/news.release/metro.nr0.htm
PRESENTATION TITLE 2/11/20XX 7
Metro - USA -
Employment.pdf

8. JOB
VACANCIE
S
PRESENTATION TITLE 2/11/20XX 8
Source – USA government
20220209_Job
Vacancies and Turnove - July 2022 - USA.pdf

9. BLOG –
MANUFACTURING
PRESENTATION TITLE 2/11/20XX 9
Blog – Top 7 trends for Manufacturing for 2022 - https://www.linkedin.com/posts/paul-young-055632b_top-7-manufacturing-trends-
for-2022-activity-6913100677200130049-aUiH?utm_source=linkedin_share&utm_medium=member_desktop_web
1. Onshoring
2. A Shift from B2B to B2C
3. Additive Manufacturing
4. Cybersecurity
5. Smart factories
6. ESG initiatives
7. Talent acquisition
https://www.thomasnet.com/insights/top-7-manufacturing-trends-for-2022/?ecms_id=be52c10e-4a96-49ec-92e8-
3fe6cea78bda&ecms_short=ART6835&doc_type=ted_article&sponsored=&acct=&parent_id=357a9397-5b6e-4a4b-92e1-
9b9c901450e4&utm_content=featuredstory&position=1&linktype=title&channel=email&campaign_type=thomas_industry_update&ca
mpaign_name=tiu220325&utm_campaign=tiu220325&utm_medium=email&utm_source=thomas_industry_update&tinid=221763045
My links
USA - https://www.slideshare.net/paulyoungcga/united-states-manufacturing-sector-continues-to-face-many-challenges
Canada - https://www.slideshare.net/paulyoungcga/canada-what-is-next-for-manufacturing-february-2022-and-january-2022

10. SUMMARY
1. USA gain over 390K net new jobs. The problem is key sectors that drive GDP growth have lagged in job
growth, especially Information technology
2. USA continues to face high energy prices due to supply issues. The USA government has not budge on
expanding domestic production of LNG and Oil
3. More and more organizations are implementing more business automation processes as part of optimizing
their operations.
4. Government continues to lag when it comes to digital adoption
5. USA manufacturing sector continues to look at ways to automate more of their operations
PRESENTATION TITLE 2/11/20XX 10
Blog – Employment and Labor Market – United States – August 2022
Employment - USA -
August 2022.pdf
Steady Growth In
Payrolls ... As It Was.pdf
20220209_Job
Vacancies and Turnove - July 2022 - USA.pdf
Summary:
It’s counterintuitive — 3.7% unemployment certainly seems worse than 3.5% — but more
workers entering the job market is a positive development.
The news was less good on the revisions front: Job totals from June and July were both revised
down, with June’s totals showing an especially sharp drop. Nevertheless, today’s data is broadly
encouraging.
So far in 2022, the economy has created 3.5 million jobs, and that’s after just eight months. By
any fair measure, that’s an extraordinary total, more in line with what we’d expect to see in a full
year.
We’ve all heard plenty of talk about a possible recession, but at least for now, there’s no
evidence of it in the surprisingly resilient U.S. job market
Source - https://www.msnbc.com/rachel-maddow-show/maddowblog/resilient-us-job-market-kept-hot-
streak-going-august-rcna46024
New data reports US
oil production hitting two-year high in June Upstream Online.pdf
U.S. job growth solid
in August; unemployment rate rises to 3.7_.pdf
USA Youth
Unemployment.pdf
COVID-19 Wreaks
Havoc on Youth Employment.pdf
Middle Class and
Cost of Living.pdf
Slump In Second
Quarter U.S. Labor Productivity Revised To 4.1_ Nasdaq.pdf
U.S. manufacturing
sector steady in August; price pressures ease further - ISM.pdf
Push to shorten US
mine permit review process gains steam - MINING.COM.pdf
US Construction
Industry Lags Due To Global Labour Shortage.pdf
U.S. Employment
(August 2022).pdf
Automation Use
Expected to Surge with Reshoring and Legislative Support Automation World.pdf
U.S. Nonfarm
Payrolls Rose a Solid 315k in August but Wage Growth Slowed By Investing.com.pdf
As inflation rages on,
Fed hopes August hiring report will show slowdown Business Standard News.pdf
HighestPayingCareer
sResults.pdf
More than 29,000
Skilled Tradespeople Trained in Four Years, Exceeding The Home Depot Foundation's Initial Goal.pdf
Industry
Organizations Work to Help Close Skilled Labor Gap Builder Magazine.pdf
EIA U.S. LNG exports
drop week on week - Offshore Energy.pdf
1. Wages / USA - https://www.investing.com/news/economic-indicators/us-nonfarm-payrolls-
rose-a-solid-315k-in-august-but-wage-growth-slowed-2885125
2. Inflation - https://www.business-standard.com/article/international/as-inflation-rages-on-fed-
hopes-august-hiring-report-will-show-slowdown-122090200234_1.html
3. Highest paying jobs - https://www.careeronestop.org/Toolkit/Wages/highest-paying-
careers.aspx
4. Skill trades - https://finance.yahoo.com/news/more-29-000-skilled-tradespeople-
120000701.html or https://www.builderonline.com/building/trades-subcontractors/industry-
organizations-work-to-help-close-skilled-labor-gap_o