Employment Numbers and Salaries on the Rise
The main activity in June revolved around Enterprise Content Management, Mobile Video Advertising, Social Technology Platform, and Software Companies. Placements primarily comprised Channel Account Management, Sales, Product Management, and Lead Architect Roles.
While tech salaries have been increasing this year, this latest jobs report indicates that there was a significant increase in wages overall. The unemployment rate however held steady at 7.6%.
Overall employment came in better than many expected; private payrolls increased by 202,000 in June and May’s private payroll figures were revised upwards from 178,000 to 207,000. Sectors showing increased employment were: leisure & hospitality (up 75,000), professional & business services (up 53,000), retail trade (up 37,000), and health care (up 20,000), construction (up 13,000), and mining (up 1,000). Job decreased occurred in manufacturing (down 6,000), and government (down 7,000).
“Consumers are considerably more positive about current business and labor market conditions than they were at the beginning of the year,” says Lynn Franco, director of economic indicators at the Conference Board. In terms of consumers’ outlook for the labor market, 19.6% expect more jobs in the coming months, up from 16.3%.”
The Wall Street Journal reported that the U.S. Supreme Court ruling striking down the Defense of Marriage Act applies only to the workers in the 12 states and the District of Columbia that recognize gay marriage currently. “Companies in those states must make sure their employee benefit packages do not discriminate against gay spouses. Gay spouses automatically will be considered beneficiaries of 401(k) retirement plans and pensions. Married gay couples will now receive equal tax treatment of health-insurance premiums. Currently, two-thirds of Fortune 500 companies offer domestic partners health benefits; the ruling will make their benefit plans simpler and reduce paperwork, but will mean companies must alter tax calculations for same-sex partners.”