Recently, the unemployment rate has dropped significantly in the Commonwealth of Massachusetts. This drop has led to an increase in job opportunities for millions of workers in Massachusetts. Indeed, the outlook for employment in the commonwealth is better than it has been in a decade, and it is expected to continue to improve over the next couple of years.
While the source of this upswing can be traced to a multitude of causes, one thing is certain: Massachusetts employment figures tell the tale of a rapid increase in prosperity, not only for businesses in the commonwealth, but also for the workers who will fill these newly available positions. The influx in available jobs has provided job seekers with better opportunities, increased bargaining power for wages and benefits, and competing offers being directed to them by multiple employers.
Revisiting Pre-Recession Prosperity
The outlook for jobs in Massachusetts is constantly improving, thanks to the falling unemployment rate. In fact, the unemployment rate in the commonwealth is currently estimated to be 4.7% compared to the 4.6% pre-recession national unemployment figures. As a result of this change, employers all across the commonwealth are faced with a whole new problem: the need to hire more workers, as fast as possible. Massachusetts employers and job placement companies are at a bit of loss trying to keep up with the ever-increasing job openings. In fact, leading manufacturing companies are asking their legislative officials how they can help them fill these newly created manufacturing positions.
Taking Advantage Of A Strong Job Market
As a result of this new economic upswing, workers are being encouraged to take advantage of an increasingly strong job market. If they are unhappy with their job or have taken a position that classifies them as one of the “underemployed,” it is time to revisit the market. Experts predict that the growing employment opportunities in Massachusetts will level out sometime in 2017, but only because there will not be enough people to fill the positions that are available. Thus, while it lasts, the increasingly lucrative opportunities that await workers in the Commonwealth of Massachusetts should be snapped up as soon as possible.