When the Great Recession hit in 2007, people started losing their jobs all over the country and panic was starting to set in. The unemployment rate spiked to over 10 percent and people who had been living in nice homes were suddenly forced to live in their cars. When an economic event hits that hard, the signs of recovery can be ignored for a variety of reasons. But with the release of the latest economic data, it is getting harder and harder to ignore the fact that the jobs recovery is picking up steam.
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April 2015 Was A Good Month For Jobs
According to FiveThirtyEight.com, there were 223,000 new jobs added in April 2015, which caused the unemployment rate to drop to approximately 5.4 percent. Some of the hardest hit industries such as finance and construction are finally seeing gains in job creation, which is good news for the entire country.
April’s job growth eclipses the March 2015 figure of 85,000 jobs added, which wound up being 41,000 below what was originally reported. But sustained growth is something that economists have been looking for and now it appears that the job market has achieved sustained job growth.
What Does This Mean For Job Boards?
According to the New York Times, job growth has not translated into wage increases. The average wage increase from 2014 to 2015 has only been 2.2 percent, which is good news for job board owners. With the increase in jobs that need to be filled, qualified candidates finally have options to choose from. If a worker does not feel that they are getting paid enough, then that worker will hit the online job boards to find a job that does pay better. The result has been that a decrease in unemployment means an increase in online job board activity.
Desperation Is Never The Answer
Online job boards struggled after the Great Recession because there were never enough jobs to be filled. That meant that a job board could have a long list of candidates looking for work, but very few companies that would actually pay to place ads to find employees. With the announcement of the April 2015 numbers, all of that is going to change.
There are plenty of jobs out there and there are plenty of employers willing to pay online job boards to help find the right employees. A job board prospers when employers are looking for employees and qualified employees are looking for work. For years, there were only qualified employees looking desperately to find work, but no employers to match those employees up with. Now that the desperation appears to be over, job boards can get back to making money by getting paid by employers to find those elusive qualified employees.
As the economic situation improves, online job boards need to become more proactive in their marketing to potential employers. The job boards have had qualified employees registered to their sites for years, but high unemployment prevented employers from searching as well. Now that unemployment has dropped and jobs are being created, job boards are scrambling to take advantage of the new glut of employers who want to spend money to find the perfect employees.