Some American employers are adding jobs like gangbusters. Here's who is hiring.
The economy may be showing signs of weakness, with consumer spending wobbling and home purchases sinking on higher borrowing costs, but there's one economic pillar that isn't slowing down yet: the job market.
Friday's jobs report "crushed" expectations with 517,000 new jobs created in January, as Josh Jamner, investment strategy analyst at ClearBridge Investments, put it. That's more than double what economists had forecast for the monthly report, which serves as a barometer for the health of the U.S. labor market.
And the unemployment rate sank to 3.4% last month — the lowest since 1969.
The jobs report may have taken some economic observers by surprise given a number of high-profile layoffs in recent weeks, chiefly concentrated in the technology sector. Google, Microsoft, PayPal and more have shed in excess of 60,000 jobs on a combined basis, reversing a hiring spree that began in the pandemic when demand for digital products surged during the initial shutdowns and stay-at-home orders.
But other industries remain desperate for workers, partly due to the fact that there are still fewer workers in the labor market today than prior to the pandemic. Most of the new job additions are coming from the service sector, especially from leisure and hospitality companies.
"It's hard to say the economy's deteriorating when you see 500,000-plus job gains ... things are looking good, if not a bit crazy," Lightcast senior economist Elizabeth Crofoot on a webcast on Friday.
Here are some of the businesses that have announced recent hiring sprees, while plenty of smaller employers are also hanging out their "help wanted" shingles.
Alaska Airlines: 3,500 jobs
Alaska Airlines last month said it plans to hire more than 3,500 new workers in 2023 across a number of roles, including maintenance technicians, flight attendants, pilots, customer service agents and software engineers.
The company said most of the new jobs are at its Seattle and Portland hubs, as well as across the west coast.
Boeing: 10,000 jobs
The aircraft maker said last month that it plans to hire 10,000 workers in 2023 as it ramps up production as the pandemic eases, according to Reuters. That comes after it added 14,000 new employees in 2022.
Most of the new jobs will be focused in Boeing's business units, plus engineering and manufacturing, Reuters reported.
Chipotle: 15,000 jobs
Chipotle said last month that it's looking to hire 15,000 people in North America to ensure its stores are staffed up ahead of its busy spring season, which runs from March to May.
As part of its campaign to recruit new workers, the company is running ads that highlight workers who rose in its ranks to management positions. It's also stressing benefits such as tuition reimbursement and free meals.
Moderna: 2,000 new jobs
Moderna plans to add about 2,000 new employees in 2023, the industry publication Fierce Pharma reported last month.
After those additions, the company will have about 6,000 workers, Moderna said. Most of the new hires will be in jobs in technical development and chemistry, manufacturing and controls, Fierce Pharma said.
United Airlines: 2,500 jobs
The airline industry has been struggling to meet a surge in travel demand, prompting United Airlines to announce last month that it plans to hire more than 2,500 pilots in 2023.
United said it currently employs more than 14,000 pilots. Captains at the helm of its Boeing 787s and 777s can earn more than $350,000 annually.
for more features.