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The Job Market in 2015

The Job Market in 2015

2015, according to the Chinese zodiac calendar, is the year of the sheep, a year believed to embody peace and tranquility. Here’s why we, and the majority of U.S. economists, think 2015 just might be your year to take charge in the market place, to grab the sheep by the horns, and find some peace and success in your career.

+++More Jobs+++
Predictions from economist boast job gains in 2015 to average 250,000 per month. Translating to approximately 3.0 million for the year and just above 2014’s addition of 2.95 million jobs. Expectations were already surpassed in January with companies hiring 257,000 workers in industries including health care, food service, retail, and construction. Experts anticipate unemployment rate to fall from 5.8% to a near-normal 5.4-5% by the end of this year. Numbers don’t lie; more jobs mean more opportunities. Whether you are a recent college graduate, feeling unfulfilled at your current job or unemployed there is no better time than now to begin your career search.

+++Increased Wages+++
Average annual wage growth, which has been hanging in around 2% for most of the economic recovery, is expected to pick up to 3% by midyear as unemployment rates decrease and force employers to pay more to entice workers. Research indicates people who quit a job for another typically do so because they are offered higher pay. If your current job is not meeting your financial goals it may be the right time to start exploring the possibility of internal promotion or a new job.

In addition to a steady increase of jobs and wages, there are several other signs indicating a relatively stable economy in 2015. Consumer spending, housing sales and business capital spending are expected to grow, fuel prices have declined, inflation will likely remain subdued, and the stock market is expected to hold strong. Is 2015 your year to find your first job, discover new career opportunities, or explore career growth? We think so.