It is a good sign the overall unemployment rate is trending downward, especially for occupations that have had an unemployment rate above the national average.
There are 22 SOC (Standard Occupational Classification System) codes. Seven of these occupations have had unemployment rates greater than the national rate, 6.3%. The unemployment rate has declined in 6 of the 7 categories.
There are about 3.5 million unemployed workers in occupations with unemployment rates above 6.3%, compared to 4.4 million a year ago. Many of these positions are easier to fill than those with lower unemployment rates because they do not require a college degree. On the job training or certifications are often required for some of these positions.
Having said that, it should be noted the construction industry is facing shortages in specialized areas in certain parts of the country. This is particularly true in Northern Colorado with the rapid growth of the extractive industries.
The overall downward trend in the unemployment rates is expected to continue. As a result the occupations with higher rates are expected to see lower unemployment rates in the months ahead.
