The April 2016 labor market stats from the Bureau of Labor Statistics showed another strong month of job growth.
Signs indicate those previously on the sidelines have jumped back in the game at a near-record rate AND are finding work, according to author Akin Oyedele’s analysis on Business Insider and the take by New York Time’s contributors Nelson Schwartz and Neil Irwin.
When you drill down, however, there is good news and some that is less so.
The Good: Jobs ⇑⇑
☑ We added 215,000 jobs in March alone, with gains in retail trade, construction, and health care.
☑ Economists expect to the unemployment rate to remain steady.
☑ According to Indeed.com’s chief economist Tara Sinclair as reported in Forbes, there’s more room for this labor market to grow.
The Bad: Stagnant Pay ðï
☑ Minimal wage gains amidst strong demand. According to New York Times authors, while top jobs on Wall Street and leading companies have seen large compensation jumps, most have experienced modest wage gains at best.
While better than last year’s job reports with zero wage gains, many would appreciate improvement on this front.
☑ Job losses manufacturing and mining impacted by the drop in energy prices and the strength of the U.S. dollar.
What this Means for Job Seekers: ⇔⇔
☑ More jobs to be had but steep competition for those roles commanding top pay.
How to Maximize Your Earning Potential:
#1 Write for Online Readers
Online resume reading, not print reading, is the norm, and small screen, online reading is fast on its heels. Your resume must be easy read on a screen of any size. Do this by
☑ Keeping bullets to about two lines on a standard laptop screen
☑ Selecting sans-serif fonts (i.e. Arial, Tahoma, Calibri)
☑ Keeping at least .5 pts between each bullet.
TIP: Read your resume on your handheld – see if you can read the salient points in less than 10 seconds.
#2 Remember that Numbers Speak Louder than Words
Numbers are more compelling than words when it comes to resume reading. Wherever you can quantify an achievement, do so. Having trouble translating successes into quantifiable achievements?
Ask yourself:
☑ Did I save money?
☑ Did I save time?
☑ Did I contribute to the company’s bottom line?
☑ Are people happier because of me and by how much?
#3 Results v. Responsibilities
Ask yourself when/if you walk(ed) out the door what you are/were proudest of…and lead off with it when describing each role.
Skim readers often never make it past the first bullet when reading about a role – make sure your response to a proud moment is the first thing they see.
TIP: Read just the first bullet under each job description on your resume to confirm it showcases achievements only you could have achieved.
Your Best Shot at Top Pay
Now that more folks are jumping into the job market and even more are on the job search bandwagon, the hope is that people will see a bump in pay industry-wide.
Let’s hope this happens sooner rather than later but until then put your best foot forward to maximize your shot at top pay!
Interested in learning more about getting your career documents ready for today’s readers?
Check out my Emergency Career Toolkit – a series of 8 short and sweet videos that explain the techniques I employ with my clients to create resumes, LinkedIn profiles and cover letters that land interviews in 60 days.