The US economy has been on a roll in the last few years, and this was confirmed by today’s news. The new jobs report showed that there were 211,000 more jobs in April than there were in March. This is great news for workers who are looking to find new opportunities or get higher wages at their current job. At the same time, it’s also good news for new graduates who are looking to enter the workforce.
A growing economy means more jobs. More jobs mean a larger number of openings for recent college graduates. As the unemployment rate continues to fall and more people get hired, finding a job becomes harder because there are simply fewer positions available in the market. At the same time, more recent graduates compete with one another for a limited number of positions.
This means that workers who are already employed have an advantage over those looking for jobs. A worker is much less likely to lose his or her job if there are abundant openings within the company. In fact, many companies now offer incentive packages which help to retain employees. In addition, the latest jobs report showed that the labor force participation rate fell slightly to 62.8%. This means more people are working and fewer people are unemployed.
While the unemployment rate is low and increasing number of jobs were created in April, there’s no telling how long this trend will last. It’s possible for an economy to go through peaks and troughs. When the economy is going well, it’s a good time to job search, either at your current company or with a new one. In the meantime, keep busy and take advantage of this good news by doing something worthwhile.
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This article originally appeared on JobMob. Copyright 2013. Follow JobMob on Twitter .
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About Michael Michael is the cofounder of Jobmob , a blog dedicated to helping people find jobs and grow their careers, and author of ” Find A Job You Love .” He writes about personal development at The Daily Helping . Join his free newsletter list for new articles every Tuesday.