As a Career Consultant and Coach I generally try stay out of the prognostication arena however the question I am asked the most is “how is the job market?”. So in the spirit of the new year here are some thoughts about what we can expect in the new year based on what we have seen this year, influencers on the horizon that affect the job market and what it means for you whether you are in a job or in between jobs.
So it is no surprise that 2015 prove to be a robust job market here in the Twin Cities. Minnesota touts one of the lowest unemployment rate in the nation, the Twin Cities community seemed to absorb almost all of the 1700 people laid off by Target as well as those from other more quieter lay offs, and there was a lot of M&A activity meaning lots of movement and possibilities for workers.
I am anticipating that 2016 will stay on trend without any forseeable or dramatic changes as is typical in an election year. Lending will continue to be cheap for companies, even despite the recent interest rate hike, which spurs on investment and growth. Consumer confidence and spending is high which is a sign that workers feel optimistic.
What this means for those presently in job search, stay the course, work your job search plan diligently and know that in time your efforts will pay off. For those in jobs, it is a good time reassess your career path and options. Are you where you’d like and hope to be in your career? Know that you have options.
So as we turn the corner into a new year, please join me in being grateful for the opportunities the job market has produced in 2015 and encouraged by the possibilities to come in 2016. Wishing you and yours a Happy New Year.