We’ve all heard of buyers markets and sellers markets when discussing real estate. It boils down to supply and demand. When the inventory of homes for sale exceeds the number of potential buyers, sales prices remain low and homes take longer to sell. When the reverse is true, multiple bids on a home drive up prices and can create a bidding frenzy.
Jim Wall, communications director for CareerSource Southwest Florida, said the same principle applies to the job market. When the unemployment rate is high, and job vacancies are scarce, employers can be picky about who they hire. Unemployment rates have dropped in the past few years, and more businesses are hiring.
“It’s becoming a job seekers market,” Wall said, “but wages still lag behind.”
That means those of you job-hunting should find success; however, you shouldn’t expect multiple employers to engage in a bidding frenzy for your services. I’m sure that’s disappointing to recent college graduates, but all it takes is one job offer.
