Job Market Predictions
Wide spread job market improvements arrive with the New Year.
The US stock market (a leading economic indicator) continues
its healthy increases forecasting better times ahead. Temporary
employee demand (another leading indicator) has risen every
month since August 2003. The index of recruiter confidence
has also risen steadily since May. Additionally, each of the
past two (2) job market recessions (that began in the early
1980s and 1990s) ended in the fourth year of their respective
decades. The current recession is taking the same path. For
example, the job market recessions that began in the early
1980s and 1990s ended in 1984 and 1994 respectively, ushering
in the strongest US economy in history. Finally, it's a presidential
election year and the economy cycles upward during such times.
The recession is recovering in similar manner to previous
Turnover Dramatically Increases
Over 38% of employees surveyed indicate that they will be
seeking a new job as soon as the economy improves. Job dissatisfaction
and stress are at their highest levels in memory and will
be the catalyst for dramatic increases in employee turnover.
More people changing jobs means more job openings and more
Power Returns to the Individual
Job market power and salary leverage returns to the individual
as demand for skilled workers greatly exceeds the supply.
During this recession, many professionals left their profession,
changed careers or started their own companies hence further
reducing the supply of skilled workers.
Companies that behaved unprofessionally toward job seekers
during the past few years will now suffer the consequences
of their actions. "Job seekers have very long memories"
and "What goes around, comes around" are sentiments
that will now be felt by most corporations. Job seekers with
in-demand skills and good interview skills will enjoy renewed
success and leverage.
- Michael R. Neece
CEO Interview Mastery