Each year, we ask Movin’ On Up readers to share their predictions for the job market in the coming year. With 2016 coming to a close, we want to review your answers and analyze this year’s economy.
Your Predictions
For 2016, the majority of readers (34%) answered that the market is “good enough to test the waters and see what else is out there.” The year before, readers felt the same way. In fact, take a look at just how similar the past couple of years have been:
“It’s good enough to test the waters:”
- 2014: 35%
- 2015: 34%
“Things are going to get worse before they get better.”
- 2014: 27%
- 2015: 25%
“I’m definitely getting a job offer or promotion this year.”
- 2014: 17%
- 2015: 18%
“I’m staying where I am. I don’t expect things to get better.”
- 2014: 11%
- 2015: 11%
Analyzing the Results
In November, the national unemployment rate in the U.S. was 4.6%, a decrease from 4.9% the month before. This time last year, the rate was 5%. A year before that, it was 5.8%, marking a clear trend toward lower unemployment rates. Additionally, Fung Global Retail and Technology predicted a retail sales increase of 3 to 4 % this holiday season, up from a 2.5% average over the past decade. Furthermore, the National Retail Federation expects retail sales at the end of the year to exceed $626 billion.
Given these predictions and trends, it seems as though readers’ belief may have been right that the 2016 economy would be strong enough to allow them to look for a new job.
Will next year’s results be similar? Vote in our poll and let us know how you think the 2017 job market will shape up.
Movin’ On Up is brought to you by Express Employment Professionals.