2016 Data Predictions | Increased Wages and Fewer Layoffs

2016 Data Predictions Increased Wages and Fewer Layoffs

 

After some struggling, the job market is projected to continue improving favorably for candidates. However, to prepare most effectively for your job search in 2016, it’s essential to be informed about projected trends to you can adapt accordingly. Check out the 2016 data predictions for the job market and what they could mean for you.

More Available Opportunities

Great news if you’re job hunting – there are likely to be a significant amount of open positions you can apply for, as 2015’s year-end unfilled jobs trends are predicted to carry over into 2016. There were approximately 5.4 million unfilled jobs as of the end of October 2015, according to data from the Bureau of Labor Statistics. This is thought to be the result of workers reaching retirement age and either leaving the workforce entirely or transitioning to different, less involved jobs.

Increased Job Security

The worst looks to be behind workers in 2016 in terms of job loss. 2015 had a spike in job cuts, at 574,888 total jobs cut as of November 2015. This was a six year record high and nearly 100,000 more jobs lost than in 2014, and is largely attributed as the result of a steep decline in oil prices and mainly affected the energy sector. Across all industries, the number of layoffs in 2016 is expected to be fewer than in 2015 as companies bounce back.

Higher Salary Offers

As more jobs are created, employers are more focused than ever on hiring and retaining top talent and not being too picky since they could risk losing them to competitors, especially for the most in-demand skill sets. As a result, employers are less likely to “lowball” candidates on initial salary offers or be overly stringent on candidates meeting every item on their qualification wish lists. If you’re a job seeker with resume gaps or other traits once considered undesirable, you’ll likely have better luck selling yourself as a viable candidate if you possess the skills employers need.

Take advantage of a market that’s favorable to job seekers and work with Spectrum Staffing Services. For over 25 years, we have provided staffing and recruitment services for employers nationwide and can provide you access to quality job listings that you won’t find elsewhere. Take the first step to finding a job and search Spectrum’s current open positions.

Spectrum Staffing Services Contact US Call to Action