In June, there were three job seekers for every open position in the U.S., according to Reuters. This is the lowest the ratio has been in more than four years, and is a strong positive sign for the labor market and the economy in general. Such a low ratio indicates wages may well rise, as employers have less leverage in that area when there are fewer unemployed people seeking jobs.
In a less competitive job market, employees have greater choice in where they would like to pursue a position. Many continue to choose to be temporary workers for a variety of reasons. Some prefer a part-time schedule, which is to their benefit as many of the jobs added last month had fewer than 35 hours a week. Others enjoy the flexibility and variety that comes with temporary work.
According to The Associated Press, fewer jobs are being created in the professional sector than in other, lower-paying industries. For this reason, many workers in professional fields are finding a new career as contract workers. Particularly as the ACA continues to loom large in the minds of company executives, despite the delay in part of its provisions, this can be a profitable choice for highly educated workers in any field. The chances of finding work may be much higher for someone who explicitly seeks a limited engagement.
