With the national unemployment rate at 3.9% and approximately 201,000 new jobs created in August 2018, the stage is set for a lot of people to be on the hunt for a new job.
According to a report by Glassdoor, 38% of working Americans were either actively looking or were planning to look for a new job in 2018. Not surprisingly, millennials (aged 18-34) were ahead of the job-hopping trend with 56%. However, the numbers might be much higher. A study commissioned by the non-profit groups Mental Health America and The Faas Foundation surveyed more than 17,000 U.S. workers and found that a staggering 71% were actively looking for a new job or were considering a change in careers.
“It’s a positive economic climate and there’s new job growth,” said Scott Dobroski, a trend analyst with Glassdoor. “So we know that more people will be searching for a job this year.”
With a really low unemployment rate and a strong economy, workers tend to think less about job security and more about new employment opportunities. In fact, workers today are leaving their jobs at the fastest rate in 17 years, encouraged by the prospect of bigger paychecks, better career advancement opportunities, more satisfying work and a more compatible company culture.
Currently, out of the 6.1 unemployed Americans, 1 in 7 are doing so voluntarily while they search for new jobs. And there’s some evidence to show they’re making the right choice. Compared to workers that have stayed in their current jobs for the past 12 months, people that job-hopped scored a 30% larger pay increase on average.
In Texas, solid job growth in construction and health care has pushed the Lone Star State towards the front of the line of the best states to find a job in the U.S. With 352,000 new jobs and 2.9% job growth in the last year, Texas has an unemployment rate of 3.9%. Below are how the major counties fared as of this past July:
- Travis County (Austin) – 3.0%
- Dallas County – 3.8%
- Tarrant County (Fort Worth) – 3.7%
- Harris County (Houston) – 4.4%
- Bexar County (San Antonio) – 3.5%
So if you’re one of the 38% actively looking for a new job, here’s a few tips that might help you land a better position.
First, polish up that resume. Customize it for each job you apply for, using keywords found in the job description.
Next, start prepping for your first interview. Figure out the best way to tell your personal story and practice it until you have it down.
You’ve got a network, right? Use it. Family, coworkers, bowling buddies, old high school friends, neighbors, etc… Let them know you’re looking and see if they know of any potential leads out there.
Last, just be yourself. Seriously, this is no time to ‘fake it til you make it.’ By being yourself, you’ll find out fast if you fit in with the culture of the company you’re interviewing with.
Just be careful before you do something crazy like quit your job before you have a new one lined up. Remember, you’re not the only one looking to score a new position with a bigger paycheck. Be smart about it, get a game plan and make your move when the time is right.
WSJ.com: In this economy, quitters are winning.
CNBC.com: Top 10 states where you are most likely to land your dream job.
CNBC.com: The strong economy could be your ticket to a new job.