Posted by Dave Lorenzo - Business Coach

Employers added 51,000 jobs in September. This is sparse.  In fact, this is the fewest new jobs added in about a year. The unemployment rate fell to 4.6% from 4.7% in August. 

What does this mean for you? 

Well, for one thing, it means that you should be able to get another job if you want one. 

For another thing, it means that wages should increase.  Doesn’t that make sense?  It seems like basic supply and demand.  If the supply of workers decreases (as less people are unemployed) employers will need to offer better packages to workers to get them to take jobs.

Unfortunately, companies usually don’t react until it’s too late.  In order to benefit from this condition, you’ll need to look for another job.  In a phenomenon that effects most of the companies I’m familiar with, they wait until most of their best employees leave before they change the compensation. So what do they get for their efforts?  They get inexperienced workers that they have to pay more money.

Here’s an idea:  Give the existing super-stars 30% more and let them figure out how to pick up the slack of the open positions. 

Filed under: Job Stats
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