Wednesday, February 27, 2008

Jobs- supply, demand & unemployment rates

How long did it take you to land your current job? Are you currently looking to get a job, sending out hundreds of resumes, searching all the job posting sites and asking around and still can’t find anything? Well, don’t blame yourself because you might not be the problem.

State Unemployment Factors

Check the unemployment rate in your state ---that rate is directly related to the length of time it takes an employee to land a job.

A recent article from listed the top ten worst states to find a job, ranked by their unemployment rate. If you're are in one of those states you can expect to spend more time on your job hunting efforts in order to land a job.

You may have the right skills and experience but the jobs are just not there. And if they are, there are too many qualified applicants, so your odds getting that job significantly decrease because there are many competitors competing for that position.

As a job hunter, this situation obviously works against you.

What does it mean for HR mangers?

From the recruiter and HR manager side, this situation is better.

For every job opening in these states, you will probably receive piles of resumes from qualified candidates.

The results are twofold:

A better selection of applicants

High unemployment means you can afford to be very picky about whom you choose to fill out a position.

Lower salary expectations

You may be able to offer a lower pay for the position, knowing that someone qualified will be willing to take it. But be careful. Employees who feel they are seriously underpaid tend to have lower performance, despite the dire job situation.

The plus for recruiters in better job markets

If low unemployment in your state is making qualified applicants difficult to find, consider focusing your advertising and recruitment in states on CNN's list. With or without relocation benefits, you might find the perfect candidate for those hard to fill positions.

The other side of the coin

If you are a job seeker, check out this article about the top 15 great cities for job seekers. You may want to relocate!

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