Employment Data Shows Pockets of Opportunityby Robert Hellmann
The latest BLS report showed the unemployment rate stuck at a dismal 9.1%. BUT, more positive news for many jobseekers can be found within the data. In particular, the unemployment rate for those with a bachelors degree or higher remained much lower than the overall rate, at 4.3%, while the unemployment rate for all those 25 and over was a lower 7.8% (teenagers aged 16-19 continue to see very high unemployment rates, at over 25%). The latest Bureau of Labor Statistics report can be read here.
In addition, the website Simply Hired, a Google-like aggregator and search engine for job-postings across the web, just released a report that shows job-postings up by 16.5% year-over-year. The entire report contains posting statistics by industry, occupation, region, and company that can be very useful if you are thinking about new job targets or a career change.
For example, results by industry show sharp year-over-year increases in job postings for the retail (150.6%), transportation (81.3%), and automotive (34.1%) sectors, while declines were seen in military (-34.6%), technology (-25.3%) and legal (-12.5%). Another measure, “job competition” (the ratio of unemployed to job-openings) reveals the least competition in Washington DC (ratio of 1:1) and the most in Miami/Ft. Lauderdale (9:1), with a national average of 4:1.
On a personal note, I (and other Five O’Clock Club coaches) are continuing to see clients at all levels land jobs they are interested in. The bottom line– while the job market remains difficult for many of you, the details within the data reveal substantial opportunity, and a more upbeat outlook.