Job Statistics Improving, but Economy Still Shaky

January 9, 2013

Job Hunt, Unemployment Stats

The latest job statistics provided plenty of good news for those trying to find a new job. But even as unemployment falls in the vast majority of states, finding a job remains a challenge today.

The reason? Unemployment is falling, but it isn’t falling fast enough. Until more jobs are created, job seekers will continue to face intense competition for every job opening that comes along.

The Numbers

According to recent numbers from the Bureau of Labor Statistics, unemployment fell in 45 states and Washington, D.C. during the month of November. Get Hired Fast - job statistics

The largest unemployment drop came in Louisiana, which saw unemployment fall from 6.6 percent to 5.8 percent, and Nevada, which saw its unemployment rate dip from 11.5 percent to 10.8 percent.

Unfortunately for Nevada, it still has the highest unemployment rate in the nation. Second on that dubious list? Rhode Island at 10.4 percent.

And what state has the lowest unemployment rate? You might be surprised to learn that it’s North Dakota, with a miniscule unemployment rate of 3.1 percent. Credit a new oil boom with North Dakota’s low rate.

Relief on the Way?

A recent story by USA Today suggested that those who need help finding a job might find even more relief in the near future. That’s because many Baby Boomers are reaching retirement age.

As these Boomers leave the workforce, that reduces the overall competition for employment. And because there are so many Baby Boomers, their impact on unemployment is rather outsized.

What it Means

What do these numbers mean to you? First, you should take some solace from the fact that the country continues to see at least modest job growth. We’d all like to see more jobs created each month, but at least the economy continues to grow.

Secondly, you need to focus on your job search strategies. Unemployment is falling, but the competition for open positions remains high. You need every job search tool at your disposal to set yourself apart from your competitors.

For more information on job search advice, sign up for our Get Hired Boot Camp today.

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