Even a partial government shutdown couldn’t slow January’s new jobs rate of over 300,000 jobs added.
Despite hundreds of thousands of workers being furloughed through almost the entire month of January as part of a partial government shutdown, the latest jobs report for January shows almost twice the expected growth in job creation. Over 300,000 new jobs were created in January.
For several months in a row now, there have been more jobs available to be filled than there are unemployed people looking to fill them. In the field information technology, an ongoing shortage of talent has made jobs plentiful and caused companies to look far and wide for the talent they need.
“This jobs report is showing no evidence of an economy slowing, certainly not falling into recession,” Michelle Meyer, chief United States economist for Bank of America Merrill Lynch, said in the New York Times. “It’s still a tight labor market. Employers are still actively looking for jobs, and with wages ticking up, it looks like workers are getting some more bargaining power.”
How Workers Can Benefit From the Tight Labor Market
A tight labor market means that there are plenty of jobs available, which means that workers may find it easier to get hired. Some employers may be willing to do on-the-job training for workers they think have potential, so being able to learn new things quickly could become a top asset in this employment climate.
Today’s tech jobs are in abundance thanks to business growth that leads to a need for more technology.
If you don’t have any experience, don’t despair. This labor market may be just what you need to get an entry-level position where you can work hard and prove yourself so that you can move up the ranks, gaining experience as you go.
Additionally, salaries are beginning to rise as employers compete over scarce resources. If you do have top-notch skills and the amount of experience detailed in a job description, you may be able to negotiate a higher rate of pay than would have previously been possible. Job seekers should still put their best foot forward by keeping their resumes and LinkedIn profiles updated, and by earning new credentials and certifications whenever possible in order to have the best salary prospects.
Employers who are not able to offer higher salaries may turn to benefits and perks to level the playing field. You may be able to work from home or get unlimited paid time off (based on getting the work done), or some other benefit that is meaningful to you.
PC AGE offers IT courses that could help you earn valuable certifications in high demand by employers and even earn credits toward an IT degree. Request info about our programs and how we can help you prepare for a high-demand tech job to better your future.