According to the Newark Star Ledger the job market is not just growing, it’s accelerating. The article states that we have had a drop in the unemployment rate over the last four months and it now stands at 7.7 %. Is it time to begin the celebration and pop the cork? Not so fast, there are still roughly 12 million people out of work and 130,000 people without jobs who have stopped looking for work. So what is really the problem facing people still looking for work?
Let’s examine what is behind the inability to find a job.
To begin with available jobs openings vary from state to state. For example if you live in New Jersey the unemployment rate is above the national average trailing at about 9.6% as of last December. If you live in Texas or some other state in the North West, the unemployment problems are not that severe.
Expected cuts in government spending will increase unemployment for many government workers and those workers who depend on government contracts as we move forward to establish the next congressional budget.
Some former jobs will never return due to increased automation and out sourcing of jobs to other countries where the labor is basically cheaper. In some cases the workers who still have a job are working harder to keep their job by doing additional work which really amounts to two jobs. Many areas of employment no longer exist due to changes in the customers buying habits to advances in technology.
Job requirements for those positions still available are very detailed, specific and demanding as to what the employer expects from a job candidate. This makes it more difficult for the average job seeker who now must possess specific requirements over and above the normal expectations in order to be considered for the job. In certain areas there are also more people seeking work than available jobs. When you consider that the basic job requirements have been tightening requiring the worker to be virally prepared on most aspects of the job on day one the previous time spent on training has become unnecessary. As the result of this job frenzy more people are now applying for open positions than needed, making the process of selecting the right person difficult as well as increasing the competition among those seeking the openings.
If you are a current unemployed person searching for work, what can you do to find work? Since the ability to find a job has become more restricted to each individual’s personal qualification, it becomes necessary for each job seeker to examine his own abilities and goals in light of the narrow specification and choices available. For example, if you are a professional it may be necessary for you to retain yourself through additional education that leads to new certifications. If you were employed at a factory which no longer exists, you may need to consider relocation to another area where jobs that fit your needs are available. Hard choices, but necessary when considering that our current economic growth which has a direct bearing on our rate of employment will probably continue at very slow pace over the next several years.
The comments stated in this blog are those of the writer and are not to be considered as answers to a given problem or issue. Please visit our Web-site at Compass Strategies Group for additional information if you plan to start your own business as an answer to the current unemployment problem.