The most recent Purchasing Manager’s Index (PMI) returned good news for this region’s abysmal economy. According to the index, a value of 50 or more indicates an expanding economy. December’s value was 51.5 revealing slight signs of growth. According to the report - half of the respondents believe that the regional economy will maintain its current status, while slightly more than1/4th believe that the economy will become "more stable". The bad news is that the index indicates that employment continues to decline in SE Michigan. State economist believe that this is a possible of sign of stabilization.
What does this really mean to local job seekers?
1. You will have to work harder to find a job.
Searching the daily classifieds isn’t enough to find a job in this economy. Leverage your personal and professional networks. Use multiple job boards to post your resume and search for jobs. Hone your interviewing skills to land that rare job interview.
2. It will take longer to find a job.
In a good economy statistics indicate that for every $10K worth of income you earn, it takes 4 weeks to find a job. In a bad economy this time line is extended considerably. Prepare yourself financially and emotionally for an extended period of unemployment.
3. This is not the economy to be finicky about your job.
To land a job sooner be more flexible with your salary, commute time, relocation and benefit requirements. A mediocre job is better than no job at all.
Our economy will stabilize and the job market will recover. The challenge; however, for many job seekers in today's employment market is to develop the stamina to keep going and keep applying for jobs.