November 2014 Economic Report Positive

The November 2014 Economic Update report from CareerBuilder shows some positive signs for the economy. Hiring is on the rise; is your job search campaign and personal brand fully prepared and polished to be the candidate that gets hired?

Unemployment Rate Fell

The jobless rate for October 2014 fell to 5.8%, the lowest it has been since 2008. Out of those who were unemployed in September, 24% found jobs in October, which is an increase of almost 1.5% from August to September for those finding work. More people are entering the job market than giving up and not looking for work.

SC&C November 2014 Unemployment Rate

Hiring Industries

Some job sectors are showing more job gains than others. As shown in the chart below, the Leisure & Hospitality sector has shown a significant increase in hiring followed by the Education & Health Services industry.

SC&C November 2014 Sector Job Gains

As a job seeker, your skills and knowledge can translate into any of these sectors. You can tailor your resume and interviewing skills to showcase how you can add value to a company in any industry. Whether you’ve been in one or two particular sectors for your career path, consider another sector that is having positive job gains as this could be the opportunity you are looking for.

Wage Growth Stagnant

Unfortunately, the report does note that higher wage growth has been stagnant. Although companies are hiring, they are not increasing salaries. One reason the report points to companies being reluctant to increase payrolls is the part-time market. There are still many people working part time; however, the average number of hours for the workweek increased to 34.6 hours. This signals that companies are needing work hours and are allowing employees to work extra hours.

You don’t have to take the next available positing that is offered to you and accept a lower pay level. If you are interested in the position, make sure your interview and negotiation skills are beyond exceptional, and you’ll get the salary you deserve. Companies are willing to pay those who demonstrate exceptional Value-Add propositions.

This November 2014 Economic Update report shows that companies are ready to hire. As a job seeker, how are you tailoring your resume or WebFolio to showcase your skills and expertise to get one of these jobs? Also, connect with Stewart, Cooper & Coon through their LinkedIn page.

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