May 5, 2006
Unemployment Flat and Wages Up
The US Government has released the latest unemployment stats and they look good for job seekers. The report says the unemployment rate remained at 4.7% and average hourly earnings increased 9 cents, or 0.5%, to $16.61. Hourly wages are up almost 4% (3.8% to be exact). When unemployment stays flat (or decreases) wages increase. This is simple supply and demand.
What does this mean for you? If you are creating and demonstrating value regularly you should be able to demand a premium over and above the standard.
How much would it take to get you to switch jobs? Is a 10% increase enough? How about 20%?
Neither of those is outside of the realm of possibility.
You need to decide for yourself how much you think you’re worth. Once you have come to grips with that number (most people underestimate their own value) you need go out and get it.
The time has never been better. What are you waiting for?
Filed under: Job Stats
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