The Bureau of Labor Statistics released the latest job numbers on Friday, October 3rd, and it tells two stories.
The first is that more people are finding work. The unemployment rate dropped from 6.1% to 5.9% in September. The second is that more people are stopping their job search. What does it all mean for you?
I always say stop watching the news if you’re looking for work. The reason is that we are likely to hear reports and expect to see the world change tomorrow and that’s not always the case. It can also simply take the air out of your sails if you hear any negativity.
However it is helpful to know what’s going on at a glance and to let the good news sneak in when it’s out there.
This jobs report is in many ways just that: good news. Yes wage growth (the aggregate or average amount salaries went up for a particular group) is stagnant and many of the long-term unemployed are dropping out of the work force, but there are new jobs out there being filled, 248,000 of them last month alone.
Segments that added jobs were employment services (34,000 added), management and technical consulting (12,000 added), architectural and engineering services (6,000 added).
This tells us the new jobs being created are in need of re-trained workers.
Technology has a huge impact on the economy and the addition of computers everywhere means fewer people are needed to work in the old way, and the people who are needed now must know how to work with computers. Think of how robots are being used on assembly lines in manufacturing plants for one example.
Want a job? Learn a computer skill. Almost any will make you a more attractive candidate and here’s some free or inexpensive places to learn:
September brings new job numbers, and a reminder to go back to school. And remember, when it comes to jobs, you only need one.
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.
The job market is showing promise with the best statistics since 2001, according to the Labor Department. If you are looking for work or even if you have given up looking, now is the time to job search.
There were 4.7 million job openings on the last day of June, according to the Bureau of Labor Statistics, and other signs of hope surround the report which was released on August 12. The number of openings is the most recorded in 13 years.
What does all this mean for you?
It means a few things. These jobs openings vary from region to region. The Northeast has 791,000 openings, while the Midwest, 1,044,000, the West, 1,057,000, and the South, 1,780,000. With population densities different in each of those areas it may mean there’s a better chance of landing what you want in another region. Should you relocate? That depends.
Where to look.
Each region has different types of job openings. There are also other factors to consider, cost of living expenses and lifestyle, for example, all play a role. Industries like finance and education are going to be stronger in regions with urban communities while other regions might offer more manufacturing opportunities. Then there companies like Amazon which announced approximately 6,000 openings at various shipping centers all around the county. So see the big picture before renting that van.
What about the many part-time job openings out there?
If you see a part-time job for a career you like or might have a future in, take the job. These jobs are great for getting in the door and proving yourself. Remember–many times these companies are only offering you part-time until you prove your value.
Here’s the most important thing to understand about this.
These are openings that increased by 100,000 from the previous month which means more job openings are being created, but are not being filled. The reasons for this vary but one obvious one is a poorly prepared labor market.
Employers are taking their time hiring, making specific choices based on lots of data. If you want these jobs you need to meet the challenge, but learning is good and you would be surprised at how easy it is to get with the times.
- Make sure your resume is up to snuff. Optimizing it for keywords can help a lot.
- Sharpen your interview skills. Know what you want and know what they want.
- Present yourself online. Understand that potential employers have Google too.
- Learn technology. Take a course or just read–but getting even a little technical knowledge can change your career path.
This report is optimistic, so let this news drive you to look for what you want. Let’s keep an eye for the next report due out on the employment situation which is scheduled to be released on September 5.
Jason Veduccio’s book, The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy, can help you develop a plan for landing that job. Click here to buy on Amazon.