July 27, 2016
Though there have been many strides to combat it, the job market has mostly failed to meet the demand to match qualified candidates with job roles that have both “good pay and healthy wage gains”. Today, it seems like job seekers have a variety of options to choose from – however, today’s job market may leave much to be desired. Reports have been undergone that examine how the growing economic discontent occurs among these job seekers and the possible ways for job seekers to overcome it.
In their latest study examining the effects of the job market trends, Indeed has found specific trends that speak to how today’s job candidates are getting hired, and what industries are finding themselves with significant growth or decline.
“The Economic Crisis Is Over, But The Wage Crisis Persists”
Indeed opens their report with: “On a deep level, many people feel that the opportunities available to them are dwindling. This sense is perhaps confirmed by analysts who note that the economy is growing more ‘polarized,’ with a few high-skill, highly paid people at the top, and a large number of low-skill, poorly paid people at the bottom. Meanwhile, the middle continues to shrink.”
Researchers found that only about “15 percent of the working-age population held a job with salary growth that at least matched the high-water mark for household income and had held up to inflation over the past decade.” In fact, increased purchasing power and pay were found to be the most changing over the last few years.
However, it was found that U.S. salaries were on the decline. That, coupled with the fact that only 16 percent of the workforce was seeing the opportunities to work in satisfying jobs that offered at least good pay, has the work done so far simply failed today’s workers?
Where Are The New Opportunities?
There is an upside these changes found in job hiring patterns. Specific industries are finding themselves seeing exponential growth from the challenges of the job market.
As The Wall Street Journal finds with their own examination of the information, only a handful of industries were seeing growth, despite the slowdown of wage increases across the board.
Even though these trends highlight the specific challenges that the job market holds for hopeful job seekers, there’s still the hope that they can use this information to carve out their own opportunities.
Did you like this article?
Get more delivered to your inbox just like it!