Since the great depression of 2007-08, the job markets all over the world have never been able to recover fully. Although over the past ten years, there have been some improvements, but it is still too early to say that the job market is completely out of the woods. Among all the insecurities in the economy reflecting on the job market, there are a few factors which give us some hope.
In the past few years, the manufacturing industry has seen many ups and downs. But the good news coming from this sector for the potential job seekers is that, this sector alone has added 36000 new professional positions in just one month. If we consider the data from December 2009, the total number of positions added has been over 183,000. This presents great hope for the fresh graduates as well as experienced professionals.
The jobs in the fields of management, professional and other related occupations have increased in the past few years. This has resulted in the unemployment rate going down to 5 percent in comparison to the previous year’s 5.5 percent. Similarly the unemployment rate among the fresh graduates or student with a bachelor’s degree has also gone down from 4.7 percent to 4.5 percent. This is definitely something to feel really positive about. This reduced unemployment rate is not just a reflection of an improving job market, but it also shows the improving condition of the economy.
Private Sector Employment
For an economy to flourish and the market depression to end, it is important that not just the public sector, but also the private sectors starts to do well for themselves. The improvement in the condition of the private sector is reflected in the restart of the hiring process by them. Although this hiring is slow in comparison to the past, but slowly and the trend shows that the sector is on the path of recovery. The employment rate in the sector has been showing a steady increase for the past seven months on a continuous basis. As many as 71,000 new positions have been added by this sector. The rate of growth of this sector is still quite slow and will not be able to match the unemployment rate at this pace, but the current growth rate is a good indicator and a positive hope for the future.
The health of the job market can be accessed on the basis of the number of opportunities available to every prospective member. In the last three months around 6.3 million vacancies were opened for the job seekers. Out of this, only 3.8 million vacancies have been filled while the other 2.5 million vacancies are still open and left unfilled. This shows that the demand and supply ration between jobs available and job seekers has improved.
The above discussed facts and statistics about the job market are a very positive indicator of the times to come. Yet as mentioned earlier, The bad times are still not over, and if we are not careful, things might get worse again.
How To Get A Job
If you are out of work and want to figure out how to get a job, then you are in luck as there are a plethora of outlets for you to search from. No longer are you subjugated to just your local paper or Cragislist. With sites like Monster, Indeed, Glassdoor, Careerbuilder, and many others, you have plenty of opportunities that help you land the job of your dreams.