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Job Market Remains Strong
You may have seen the news about the government’s latest job report which showed weaker job creation last month. On first glance, the report didn’t look very positive and created many questions among job seekers. Only 51,000 jobs created? Are we headed for a recession? Should I stay put in my job?
But a closer look at the results revealed that the news really wasn’t all that bad. Yes, only 51,000 jobs were created, but prior months’ reports were revised and looked much stronger than initially reported. I expect this initial report of 51,000 jobs to be revised up next month as well.
At the same time, the unemployment rate dropped to 4.6% -- that’s extremely low and is consistent with what we are seeing in the job market – a real shortage of good, skilled workers.
So, in my opinion, the outlook for job seekers is pretty good right now. Companies are creating a wide range of jobs across the country and the pool of available workers continues to shrink. When employers have fewer candidates to choose from, it gives you more options and puts you in the driver’s seat.
Our most recent confidence survey shows that workers are feeling more positive about their overall situation as well. This is yet another sign that job seekers are finding favorable conditions in today’s labor market.
Remember, one month of slowed job creation isn’t a trend and shouldn’t cause any concern for you as you look to make the next move in your career. This is a good time to sharpen your skills, get additional training, tweak your resume and be on the lookout for the next big opportunity.
Posted by Roy Krause on October 12, 2006 at 5:15 PM
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