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Quintessential Careers Blog |
February Jobs Report Showed Massive Labor Force Growth: What That Means for You Posted: 21 Mar 2016 07:00 AM PDT
The job market is now bouncing back to pre-recession levels. If you abandoned your job search or put your career growth on hold in recent years, now may be the perfect time to polish your resume and get back in the game.
Yes, this is great news for everyone. It’s especially spectacular news for those who are struggling to find work and those who have lost jobs during the past decade. With more open positions available, it’s easier to bring a sidelined career back on track. The BLS (US Bureau of Labor Statistics) actually tracks rates of “discouraged workers,” (those who have abandoned their job searches and left the marketplace without actually finding jobs) and these numbers are dropping as well. In one month, they’ve gone from 732,000 to 599,000. So if you fall into this category, what do these numbers mean for you?
It’s time to get back in the game
Regardless of your industry—or how long it’s been since you last held a position relevant to your long term career goals—it’s time to take a fresh look at the opportunities available in your area. If you’re holding down a temporary position while you wait for conditions in your field to improve, don’t let this moment pass. You don’t have to let go of your stand-by job just yet, but start looking for new opportunities and updating your resume. Don’t stay on the proverbial treadmill waiting for conditions to change; they’re changing now, and it’s time to act.
School is important, but so is your career
Some ambitious, career-minded individuals choose to return to school during downturns in the job market. There are plenty of advantages to this plan. But if you’re only heading back to school because you’ve heard dismal reports about your job prospects, conduct more research before you start taking out student loans.
Employers need you as much as you need them
Staffing and business expansions are serious issues. When new distribution and call centers are in the works and new product lines are poised for release—for example—employers are serious about finding the right candidates and finding them quickly. Jobs aren’t handed out like benevolent favors. Make your profile available and throw your name into the ring. Somewhere out there, your new boss is looking for you just as urgently as you’re looking for her.
Wage growth is not keeping pace
Despite the urgency of candidate searches, some employers are fighting hard to keep wages from growing at a pace that matches that of position availability. In fact, median salaries (which hover around $52,000 per year) haven’t changed very much since the early 2000s, despite overall increases in company profits and worker productivity. Keep your starting salary expectations reasonable, but don’t settle for less than your skills are worth. If a potential employer can’t (or won’t) offer a salary that falls within your well-researched range, keep looking. The next one will. If you’re employed, apply yearly pressure for meaningful raises, and don’t let a misguided sense of loyalty keep you bound to an employer who won’t compensate you for your contributions.
If you feel trapped in an underpaid position or one that doesn’t align with your long term plans, now is the time to reevaluate your circumstances. If you think you have no other options, think again. Look around, reach out, and get ready to roll the dice and take a risk. Start by creating a powerful resume using the tools and templates available on Quintcareers. The post February Jobs Report Showed Massive Labor Force Growth: What That Means for You appeared first on Quintessential Careers Blog. |
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