Job Market vs Diamond Market: Which Is Better?
article Posted August 24, 2018 08:52:58 The job market is in a steady state, with the unemployment rate remaining at 6.9%, a rate that is higher than it was in September 2017, according to a recent survey of employers by the American Association of University Women.
The survey showed that a majority of employers surveyed say the unemployment benefits that are provided to unemployed Americans, as well as the unemployment insurance they receive from their employers, are enough to offset the costs of unemployment, and that many companies are planning to keep hiring at a rate of at least 4,000 workers per month, according the survey.
Job Market is the first step in a job seeker’s journey towards finding a job, according Rachel Schumacher, CEO of the National Association of Realtors, which has been tracking job openings for two decades.
Job market is what helps us find our best-paying jobs.
Job seekers have to look at the job market and the best-value options, she said.
The unemployment rate is the rate of unemployment that is being experienced by Americans.
In contrast, the job-market rate is an estimate of how many people are actively looking for jobs, and is not a measure of unemployment.
The current unemployment rate for the country is 5.6%, which is the lowest since the recession began in December 2007, according, the Bureau of Labor Statistics.
However, the labor market has been in a long-term uptrend, with employers adding jobs at a fast clip, according an August 2017 report by the National Bureau of Economic Research.
That uptrend was helped by the global economic recovery, which also benefited businesses and the economy as a whole.
“We see a lot of positive trends that are helping the economy,” Schumachers said.
“The labor market is still strong.
Companies are still adding jobs.
We’re seeing a recovery in housing, retail, and construction.
All these things add to the strength of the job creation in the United States.”
The unemployment benefit, meanwhile, is a major source of job seekers’ income, according Schumchers.
The government provides jobless workers with about $8,600 in benefits every month, but employers often choose to give job seekers only about $1,600, she noted.
That’s a difference of about $100 per month that job seekers have.
“It’s not enough to buy food for your family,” Schumsacher said.
“[Job seekers] have to pay for their own food.
They have to take care of their own kids.
They pay their rent.
They can’t just pay for the things that their employers are paying them for.”
The economic recovery and a rebound in consumer spending has helped job seekers feel better about their prospects, she added.
Job-seekers also have access to social-service programs and the safety net, as unemployment benefits expire.
But that can change quickly, Schumakers said.
If job seekers lose their benefits, their benefits expire, and they have to find a new job, their costs can skyrocket.
The federal government will reimburse job-seekers $1 for every $1 that they spend on food, shelter, and other necessities.
“People have to decide if they want to be able to afford that and still go out and do the work,” she said, adding that job-hunters can lose out if they’re overburdened by food, clothing, and rent.
The U.S. Department of Labor said that more than 2.4 million people were unemployed in August, the highest monthly total in more than two years.
About 5.3 million people are employed full-time and looking for work, the Labor Department said, and 1.9 million are looking for part-time work.
“These are not the best times for anyone to be out there looking for a job,” said Lisa Wylie, a spokeswoman for the American Federation of Government Employees, which represents the federal government workers who represent nearly 30% of the U.s. workforce.
“There are a lot more jobs than we’ve had since the last recession.
That will be the reality of this recovery and the next one.”
Job-hunting opportunities are expected to increase in 2018 and 2019, as the economic recovery begins to show signs of lifting.
Unemployment benefits expire for most people between March 1 and July 31.