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The boom in construction activity has largely been fueled by the oil and gas industry, which has been responsible for a 26.4% increase in oil and gas pipeline construction employment nationwide over the past year. In the fourth quarter of 2018, oil prices fell sharply, leading to a significant drop in hydraulic fracturing activity and introducing uncertainty into the outlook for the industry. The 2019 first-quarter rebound in oil prices should help the industry extend its streak of job gains this spring and summer. The 2019 first-quarter rebound in oil prices should help the industry extend its streak of job gains this spring and summer.

Growth in the employment rate for prime-age women (those between 25 and 54) broke away from that for prime-age men starting in late 2015, and women haven’t looked back since. After several years of sustained job gains averaging around 200k new jobs per month, the labor market finally became tight enough to deliver nominal wage growth above 3% beginning in 2015. The healthcare industry, for example, has seen explosive growth over the past decade, accounting for more than a quarter of the net new jobs created between December 2007 and November 2018. The shift towards women having children later is leading to women experiencing shorter labor force interruptions and being more financially prepared to balance the demands of childcare and careers.

The Personal Care Aide (PCA)—the Home Health Aide’s (HHA) non-certificated cousin and soon-to-be fixture in every aging Boomer’s home The Labor Department has two main designations for home health care workers: Personal Care Aide and Home Health Aide. Employers aren’t just deferring to a role with fewer skill requirements to meet demand in the midst of a talent shortage, they are also actively lowering the bar to entry for home health care roles overall—including for job titles typically associated with formal certifications. Based on an analysis of more than 200,000 home health care job postings on ZipRecruiter since 2017, job postings mentioning HHA certifications declined 9.3% year over year in 2018.

The report’s three key metrics—job growth of 196,000, an unemployment rate of 3.8%, and wage growth of 3.2%—calmed fears substantially and buoyed stocks. Investors seemed relieved that the economy continues to add jobs at a healthy pace, that unemployment remains low, and that wage growth—which has now topped 3% for six months—remains robust enough to deliver meaningful increases to household incomes, but not so rapid as to stoke fears of inflation. In just the past year, the number of Americans aged 55 and over outside the labor force has increased by 1.5% or 860,000, while the number of employees aged 55 and over has increased more than twice as quickly, by 3.1% or 1.121 million. Over the past year, over 534k new jobs have been created in professional and business services, 484k in health care and social assistance, 435k in leisure and hospitality, 246k in construction, 225k in trade, transportation, and utilities, and 209k in manufacturing.