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With nearly 6.7 million open jobs today, hiring by U.S. employers remains strong. As of June, the BLS reports the ratio of unemployed workers to open jobs nationally hit 1:1. That’s down from a peak of 6.6 unemployed workers per job opening seen during the depths of the Great Recession and is another stark reminder of the intense competition for skilled talent many employers are struggling with today.
These conditions are good for workers’ wages. After years of slow wage growth, there’s growing evidence that paychecks are finally on the rise for a growing number of workers. The August edition of the Glassdoor Local Pay Reports found U.S. wage growth for full-time workers reached its fastest pace in 15 months. That’s consistent with other measures of wages: Last month’s BLS jobs report showed average hourly pay rose 2.7 percent from a year ago, up from the 2 to 2.5 percent pace of the past two years; similarly, the Atlanta Fed’s Wage Growth Tracker shows U.S. pay growth steadily rising, up 3.3 percent year-over-year as of July 2018.
Dr. Andrew Chamberlain @ Glassdoor.com
CSRA Career Coaching LLC