Monthly Jobs Report: Monster’s Hiring Snapshot

We layered Monster job numbers with data from the BLS monthly jobs report to help employers navigate the current hiring landscape. Here's what you need to know.

The labor market appears to be rock-solid with another round of hearty job gains in February. According to the latest U.S. Bureau of Labor Statistics’ (BLS) monthly jobs report, 275,000 payrolls were added across industries, including healthcare, food services, transportation, and more. Monster Economist Giacomo Santangelo says February’s gain “indicates a positive trend in the labor market, signaling robust hiring activity. This increase suggests that businesses may be expanding, which can be interpreted as a sign of business confidence in economic growth.”

Below, we shared our breakdown of the latest job numbers along with key takeaways to help employers plan for the months ahead.

Healthcare Sector Remains in Stable Condition

Leading the way in the BLS monthly jobs report, the healthcare sector added 67,000 payrolls, accounting for nearly one-quarter of the overall gain in February. Monster job numbers showed a slight uptick in hiring, too, with the number of active healthcare job postings up 1% over the past month. Job postings for registered nurses remain #1 overall on site, while other top positions hiring include:

  • Licensed practical and licensed vocational nurses (#4 overall)
  • Physical therapists (#7 overall)
  • Medical and health services managers (#10 overall)

“Once again, the demand for healthcare services remains stable driven by factors such as an aging population, advances in medical technology (AI), and increased access to healthcare coverage,” Santangelo says. “It is also important to recognize that healthcare has proven to be a resilient sector, even during economic downturns, as healthcare needs persist regardless of broader economic conditions. This stability makes it an attractive sector for job seekers and may contribute to ongoing hiring even as other industries experience decreases.”

As the sector becomes increasingly attractive to job seekers, especially in the wake of inflation and mass layoffs, Monster job search activity shows where candidates are focusing their efforts within healthcare. Top healthcare job searches in February included those for:

  • Registered nurses
  • Medical assistants
  • Pharmacy technicians

Restaurants Spring into Action on the Hiring Front

After being cooped up all winter, an early spring is coaxing people to venture out, prompting businesses like restaurants, coffee shops, and bars to hire more workers. In February, the BLS monthly jobs report showed that employment rose by a solid 42,000 payrolls following a cold three months that yielded little change in employment. Meanwhile, employers on Monster hired for top restaurant positions, including:

  • Cooks
  • Food prep and serving workers
  • Waiters and waitresses

With St. Patrick’s Day, Easter, and Mother’s Day coming up, Santangelo says, “Businesses in the food service industry may have increased hiring in anticipation of upcoming events or the onset of warmer weather, which typically leads to increased foot traffic and outdoor dining opportunities.”

As seen in years past, the spring months of March, April, and May typically see an increase in hiring within the restaurant industry. And as we near summer break for high school and college students, job searches within the industry may pick up as well. Right now, top restaurant job searches on Monster include:

  • Cook
  • Bartender
  • Dishwasher

Transportation Industry Hits the Gas on Hiring

Following a 70,000 deficit, employment in the transportation and warehousing sector began to bounce back in February. According to the BLS monthly jobs report, the sector added 20,000 payrolls, primarily for couriers and messengers. What’s more is that Monster data suggests this growth may continue in the months to come with the number of active transportation job postings up 11% over the past month. Top jobs hiring include:

  • Heavy and tractor-trailer truck drivers (#3 overall)
  • Light truck or delivery service drivers
  • Motor vehicle operators

From a candidate standpoint, top jobs being searched within the category on Monster include those for:

  • Delivery drivers
  • Forklift operators
  • Drivers

Laid Off Tech Workers are Looking for Jobs

Despite February’s strong job numbers, the unemployment rate did trend up from 3.7% to 3.9% as consumer confidence declined. This may be, in part, due to an increase in layoffs — a job cuts report from Challenger, Gray & Christmas showed that layoffs increased 3% month-over-month in February, up 9% over the past year. These job cuts appear to be concentrated mostly within tech as firms like Google leverage advancements in artificial intelligence to streamline operations while others strive to cut costs amid high interest rates and inflation. So far this year, 168 tech companies have laid off 42,324 employees.

As more tech workers find themselves without employment, Monster data shows that some of the top job searches in February were largely for tech-related positions, which experienced month-over-month growth as well. These include:

  • Data engineer (#3 overall, candidates searches +20%)
  • Java developer (#6 overall, candidates searches +18%)
  • Devops engineer (#9 overall, candidates searches +35%)

“It is not unreasonable to think that laid-off tech workers are actively seeking new employment opportunities, particularly in roles such as data engineers, which are high in demand within the tech sector,” Santangelo says. For employers hiring tech workers, check out Monster’s recruiting resources.

Pay Plateaus as Inflation Creeps Back Up

After seeing huge pay hikes month and month in the BLS monthly jobs report, average hourly wage growth decelerated in February. The report showed a 5-cent (0.1%) increase over the past month, or 4.3% over the past year.

Santangelo says, “One possible reason for the deceleration in average hourly wage growth in February is that the rapid pace of wage increases seen in previous months may have reached a plateau as businesses adjust their compensation policies in response to uncertain labor market conditions and productivity levels. As for whether this downward trend will continue in the months to come, it’s difficult to predict with certainty. While it is possible that wage growth may continue to decelerate in the short-term, we still need wages to grow to meet the increased cost of living.”

While inflation has reduced significantly, consumer prices are starting to rise again, up 0.3% over the past month or 3.1% over the past year. Santangelo says, “The fact that consumer prices are starting to rise again speaks to the strength of inflation’s momentum. Whether inflation will rise further or move closer to the Fed’s target of 2% depends on the effectiveness of the Fed’s interest rate policy.”

Stay Tuned for the Next Monthly Jobs Report

Monster aims to provide employers with the insight needed to move forward. As you plan your hiring strategy over the next month, check out Monster’s 2024 Work Watch report for the latest hiring trends and insights.

We’ll see you here again in April when we will release our next take on the monthly jobs report.