Fortune 500: Business, technology, marketing and content marketing jobs up 2.5% from year ago
Businesses are continuing to grow their business through new platforms, new products and a growing focus on content marketing.
The job growth among Fortune 500 companies rose by 2.3 percent from a year ago to $1.3 trillion, according to data compiled by The Wall Street Journal.
That was a rise of almost 9% from a loss in 2017.
The companies are also hiring.
The number of people in jobs for content marketing, content marketing and related technical roles grew by 10.5 percent, or about 20,000 people.
The rise in job growth is driven by companies that have launched new products or services, or have expanded their business beyond traditional retail outlets.
“Companies are seeing the benefits of being able to offer more content and services to their customers through new channels,” said Scott Weingarten, chief executive of The Wall House, a business consultancy.
“The demand for those services and content is high.”
The jobs growth is up from 2.2 percent a year earlier, which included a 7.7 percent rise in retail and service jobs.
The overall job growth was 0.9 percent.
The hiring gains were offset by an 8.2% decline in the number of manufacturing jobs.
That’s partly because companies are struggling to find qualified workers to fill those positions.
There are a lot of people who are just not ready for those jobs.
“I’m not going to say this is a good time to hire for retail,” said Bob O’Neill, chief economist for Bank of America Merrill Lynch.
“We do believe it’s likely to remain a challenging time for job creation for many months.”
The jobless rate rose slightly to 7.1 percent.
It was the highest level since April.
The number of new jobs added was down 0.7 percentage points from a record set in April, according a Reuters survey.
The gain was mostly in non-farm jobs, which increased by 1.5 percentage points.
The economy was expected to add nearly 100,000 jobs in the fourth quarter, but that number was revised to 190,000.
The Labor Department said Wednesday that payrolls grew an annualized 1.9% last quarter.