What 3.9% Unemployment Really Means

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I feel like every day I read about how the economy is teetering on the edge due to trade wars, tariffs, and soaring equity prices.  While it is true these things have the potential to threaten the economy that doesn’t mean you can’t enjoy the good times while they last.  I guess that kind of news just doesn’t sell well.

Now, I am not saying to spend your raise or bonus lavishly.  I am not telling you to go all in on stocks, in fact I would advise against that.  I am simply talking about how now is the time opportunity knocks.  The labor market is stretched really thin right now while people are lining their pockets with cash.  Don’t have a job? Apply.  Want to change industries? Do it.  Want to launch that business or super successful personal finance and investing blog?  There is no better time to do it than right now.   (oh wait thats us)

From my personal experience, during my job search a lot of opportunities were presented to me that probably would not have if firms were not scrambling for talent.  Additionally, during the interview process multiple hiring managers from some of America’s most competitive firms told me its a job seekers market, meaning the supply of jobs is outpacing demand, and to be aggressive when negotiating an offer.  Seniors in college especially apply for that job you don’t think you’re qualified for!

Further evidencing this claim is the Bureau of Labor Statistics Employment Situation report published each month.  You’ll notice over the past year unemployment has steadily declined and seems to have leveled off around 3.9-4.1% range.  Firms are simply running out of talent to recruit.

source: tradingeconomics.com

If you want to learn more about what sectors are benefiting the most and the BLS outlook for unemployment you can access them at BLS.gov in the news release section.  You can find last months (August 2018) here.

I urge you to take the leap now that times are good instead of waiting and regretting what could have been.

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