The US Bureau of Labor Statistics has released data for the third quarter of 2024, showing noteworthy shifts in county-level job growth and wage trends.
Here’s a breakdown of the findings from September 2023 to September 2024.
Employment Growth Across US Counties
Between September 2023 and September 2024, employment rose in 264 of the 369 largest US counties.
This increase corresponds with a 0.8% rise in national employment, reaching 155.4 million in total.
Notable Trends:
- Kings County, NY led the way with a substantial 4.9% increase in employment. The largest job growth in Kings occurred in the education and health services sector, which grew by 11.1%, adding 40,483 jobs.
- Elkhart County, IN, on the other hand, faced a 2.7% decrease in employment. Manufacturing in the county saw the steepest drop, shedding 2,668 jobs, a decline of 4.2%.
Wages on the Rise
Across the 369 counties, 363 experienced increases in average weekly wages for the third quarter of 2024.
Nationally, the average weekly wage reached $1,394, marking a 4.5% rise year-over-year.
Highlighted Wage Changes:
- Benton County, AR had the most significant rise, with average weekly wages surging by 15.5%. A key driver was the professional and business services sector, which saw an increase of $615 (+28.9%).
- In contrast, Weld County, CO faced a decline in wages, dropping by 1.3% overall. The natural resources and mining sector saw the largest wage cut, with a decrease of $722 (-30.2%).
Employment and Wages in Major Counties
Among the 10 largest US counties, most reported growth in both employment and wages.
Employment in Major Counties:
- Miami-Dade County, FL, saw the largest employment increase among the largest counties, rising by 1.7%. The biggest contributor was the education and health services sector, which added 5,228 jobs (+2.5%).
Wage Trends in Major Counties
- King County, WA experienced the largest wage gain in the top 10 counties, with wages rising by 6.4%. This increase was driven by the information sector, where average weekly wages jumped by $903 (+14.4%).
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Key Takeaways and Future Outlook
The data shows there was robust employment growth and rising wages across the US in Q3, with certain counties, like Kings leading the way.
However, there are some areas of concern, particularly in counties like Elkhart, where manufacturing declines have taken a toll.
Moving forward, continued growth in sectors such as education, health services, and professional business services will likely drive further wage increases.
At the same time, the recovery in Colorado’s data publication will help provide more comprehensive insights into the state’s economic trends.
The ongoing job growth in major counties like Miami-Dade and King, combined with rising wages, indicates that the U.S. labor market remains resilient and dynamic, despite some regional challenges.
